PASADENA, CA, April 14, 2022 (GLOBE NEWSWIRE) — LIXTE Biotechnology Holdings, Inc. (Nasdaq: LIXT), a clinical-stage drug discovery firm growing pharmacologically lively medication to be used in most cancers remedy, right this moment introduced that it has closed a registered direct providing with sure institutional and accredited buyers for $5.8 million of frequent inventory. The Firm issued a complete of two,900,000 shares of frequent inventory at a purchase order worth of $2.00 per share.
WestPark Capital, Inc. and WallachBeth Capital, LLC acted as co-placement brokers for the providing.
The gross proceeds to LIXTE from this providing had been $5.8 million earlier than deducting the position brokers’ charges and bills, and different providing bills payable by LIXTE. The Firm intends to make use of the web proceeds from the providing for working capital and normal company bills, together with additional medical growth of the Firm’s lead compound LB-100.
The shares of frequent inventory had been supplied by LIXTE pursuant to a “shelf” registration assertion on Kind S-3 (File No. 333-252430) beforehand filed with the Securities and Alternate Fee (the “SEC”) on January 26, 2021 and declared efficient by the SEC on February 5, 2021.
A prospectus complement and accompanying prospectus regarding the securities supplied have been filed with the SEC. Digital copies of the prospectus complement and accompanying prospectus could also be obtained on the SEC’s web site at; or from: WestPark Capital, Inc. – Consideration: Jason Stern, 1900 Avenue of the Stars, third Flooring, Los Angeles, CA 90077; or by E mail: ; or by phone at (310) 203-2919.
This press launch shall not represent a suggestion to promote or a solicitation of a suggestion to purchase these securities, nor shall there be any sale of those securities in any state or different jurisdiction through which such supply, solicitation or sale can be illegal previous to the registration or qualification underneath the securities legal guidelines of any such state or different jurisdiction.
About LIXTE Biotechnology Holdings, Inc.
LIXTE Biotechnology Holdings, Inc. (Nasdaq: LIXT), is a clinical-stage pharmaceutical firm centered on new targets for most cancers drug growth and growing and commercializing most cancers therapies. Main drivers of most cancers are defects within the switches that flip the biochemical pathways in cells on or off. Most most cancers analysis over the previous 30 years has centered on the “on” switches as a result of the “off” switches, particularly the grasp “off” change protein phosphatase (PP2A), had been believed to trigger insupportable toxicity in sufferers. LIXTE has achieved a breakthrough with its novel, first-in-class lead medical compound and PP2A inhibitor, LB-100, demonstrating that LB-100 is instantly tolerated in most cancers sufferers at doses related to anti-cancer exercise. Primarily based on intensive printed preclinical information (see), LB-100 has the potential to considerably enhance outcomes for sufferers present process numerous chemotherapies or immunotherapies. LIXTE’s new method has no recognized rivals and is roofed by a complete patent portfolio. Preliminary proof-of-concept medical trials are in progress.
This announcement comprises sure forward-looking statements throughout the which means of Part 27A of the Securities Act of 1933, and Part 21E of the Securities Alternate Act of 1934. For instance, statements relating to the Firm’s monetary place, enterprise technique and different plans and goals for future operations, and assumptions and predictions about future product demand, provide, manufacturing, prices, advertising and pricing elements are all forward-looking statements. These statements are usually accompanied by phrases comparable to “intend,” anticipate,” “consider,” “estimate,” “potential(ly),” “proceed,” “forecast,” “predict,” “plan,” “might,” “will,” “might,” “would,” “ought to,” “anticipate” or the damaging of such phrases or different comparable terminology. The Firm believes that the assumptions and expectations mirrored in such forward-looking statements are cheap, primarily based on info accessible to it on the date hereof, however the Firm can’t present assurances that these assumptions and expectations will show to have been right or that the Firm will take any motion that the Firm might presently be planning. Nonetheless, these forward-looking statements are inherently topic to recognized and unknown dangers and uncertainties. Precise outcomes or expertise might differ materially from these anticipated or anticipated within the forward-looking statements. Elements that might trigger or contribute to such variations embrace, however will not be restricted to, regulatory insurance policies, accessible money, analysis outcomes, competitors from different related companies, and market and normal financial elements. This dialogue needs to be learn together with the Firm’s filings with the US Securities and Alternate Fee at .
Normal Telephone: (631) 830-7092
Investor Telephone: (888) 289-5533
The content material is by GlobeNewswire. DKODING Media isn’t accountable for the content material offered or any hyperlinks associated to this content material. DKODING Media isn’t accountable for the correctness, topicality or the standard of the content material.