LIXTE Biotechnology Holdings (NASDAQ: LIXT) has entered into definitive agreements with accredited investors for a registered direct offering expected to generate approximately $16.6 million in gross proceeds, the company announced. The transaction, priced at the market under Nasdaq rules, consists of 2,625,362 shares of common stock and pre-funded warrants at $6.31 per share, with closing anticipated on or about June 3, 2026, subject to customary conditions.
The financing is expected to materially strengthen LIXTE’s balance sheet and provide additional flexibility to pursue strategic priorities, according to the company. Net proceeds will be used for general corporate purposes, working capital, and strategic initiatives. CEO Geordan Pursglove said the offering positions the company for its next phase of growth, following the recent appointment of Denham Capital founder Stuart Porter to the board of directors.
LIXTE is a clinical-stage pharmaceutical and med-tech company focused on new targets for cancer drug development. Its lead compound, LB-100, is a first-in-class PP2A inhibitor that has demonstrated tolerability in cancer patients at doses associated with anti-cancer activity. Preclinical data suggest LB-100 may significantly enhance chemotherapies and immunotherapies, improving outcomes for patients. The company is advancing proof-of-concept clinical trials for Ovarian Clear Cell Carcinoma, Metastatic Colon Cancer, and Advanced Soft Tissue Sarcoma, with a comprehensive patent portfolio covering its approach.
Additionally, through its wholly owned subsidiary Liora Technologies Europe Ltd., LIXTE is developing the LiGHT System, an electronically controlled proton therapy platform for tumor treatment, which is believed to offer advantages over current technologies.
The offering follows a period of strategic moves for LIXTE, including board changes and ongoing clinical development. The capital infusion provides a runway to advance its pipeline and potentially achieve key milestones. The company’s focus on novel cancer biology and proton therapy positions it in two high-growth areas of oncology, though clinical-stage biotech investments carry inherent risks.
More information is available on LIXTE’s website at www.lixte.com and Liora Technologies at www.lioratechnologies.com. For full press release details, visit https://ibn.fm/rHL1p.
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