LIXTE Biotechnology Holdings Inc. (NASDAQ: LIXT) has announced definitive agreements with accredited investors for a registered direct offering expected to generate approximately $16.6 million in gross proceeds. The offering consists of 2,625,362 shares of common stock and pre-funded warrants priced at $6.31 per share, with the transaction priced at the market under Nasdaq rules. The company said the financing materially strengthens its balance sheet and provides additional flexibility to pursue strategic priorities.
LIXTE expects the offering to close on or about June 3, 2026, subject to customary closing conditions, and plans to use the net proceeds for general corporate purposes, working capital and strategic initiatives. Chief Executive Officer Geordan Pursglove said the financing positions the company for its next phase of growth and follows the recent appointment of Denham Capital founder Stuart Porter to the company's board of directors.
LIXTE Biotechnology Holdings is a clinical-stage pharmaceutical and med-tech company focused on new targets for cancer drug development and developing and commercializing cancer therapies. LIXTE has demonstrated that LB-100, its lead compound and first-in-class lead clinical PP2A inhibitor, is well-tolerated in cancer patients at doses associated with anti-cancer activity. Based on published preclinical data, LB-100 has the potential to significantly enhance chemotherapies and immunotherapies and improve outcomes for patients with cancer. It is part of a pioneering effort in an entirely new field of cancer biology – activation lethality – that is advancing a new treatment paradigm. LIXTE's novel approach is covered by a comprehensive patent portfolio, with proof-of-concept clinical trials currently in progress for Ovarian Clear Cell Carcinoma, Metastatic Colon Cancer and Advanced Soft Tissue Sarcoma.
Through LIXTE's wholly owned subsidiary, Liora Technologies Europe Ltd., the Company also is pioneering the development of electronically controlled proton therapy systems for treating tumors in various types of cancers. Liora's proprietary flagship technology, LiGHT System, is believed to provide significant advantages over currently available technologies for treating tumors with proton therapy.
The company's latest news and updates are available in the company's newsroom at https://ibn.fm/LIXT. More information about LIXTE Biotechnology Holdings can be found at www.lixte.com and about Liora Technologies at www.lioratechnologies.com.
