Lixte Biotechnology Holdings Announces $4.3 Million Registered Direct Offering to Advance Cancer Drug Development

Lixte Biotechnology Holdings, Inc. (NASDAQ: LIXT) has entered into definitive agreements for a registered direct offering with accredited investors, raising approximately $4.3 million through the purchase and sale of Common Stock and pre-funded and investor warrants. The offering was priced at $4.09 per Common Unit, which represents the market price under Nasdaq rules, and consisted of 1,051,342 Common Units or Pre-Funded Units. Each unit includes one share of Common Stock or one Pre-Funded Warrant along with one Common Warrant exercisable at $3.96 per share, with the Common Warrants becoming exercisable immediately and expiring 60 months from issuance.

The gross proceeds from this offering total approximately $4.3 million, with net proceeds designated for general corporate purposes and working capital. This financial infusion comes at a critical time for the clinical-stage pharmaceutical company, which focuses on developing new targets for cancer drug development and commercializing cancer therapies. Spartan Capital Securities LLC served as the exclusive placement agent for the transaction, while Sichenzia Ross Ference Carmel LLP acted as counsel to the company and Kaufman & Canoles PC served as counsel to the placement agent.

This funding is particularly significant for advancing Lixte's clinical programs, including its first-in-class lead clinical PP2A inhibitor, LB-100. The company has demonstrated that LB-100 is well-tolerated in cancer patients at doses associated with anti-cancer activity, based on extensive published preclinical data available through the company's website at https://lixte.com. The compound represents a pioneering effort in an entirely new field of cancer biology known as activation lethality, which is advancing a new treatment paradigm for cancer patients.

Lixte's comprehensive patent portfolio protects this innovative approach, and proof-of-concept clinical trials are currently in progress for Ovarian Clear Cell Carcinoma and Metastatic Colon Cancer. The additional information about the company's research and development efforts can be found at https://lixte.com. The $4.3 million capital raise provides essential resources to continue these clinical trials and further develop LB-100, which has shown potential to significantly enhance both chemotherapies and immunotherapies, potentially improving outcomes for patients with various forms of cancer.

The registered direct offering structure allows companies like Lixte to raise capital more efficiently than traditional public offerings, as it involves selling securities directly to accredited investors without the need for a public offering process. This approach can be particularly advantageous for biotechnology companies in clinical development stages, where timely access to capital can determine the pace of research and clinical trial advancement. The market pricing of the offering at $4.09 per unit reflects current market conditions and investor confidence in the company's direction and potential.