Lixte Biotechnology secures $5 million investment through shares and warrants, funding general corporate purposes and cancer research.
Quiver AI Summary
Lixte Biotechnology Holdings, Inc. announced a definitive agreement on June 30, 2025, to raise approximately $5 million through a private placement of common stock, Series B convertible preferred stock, and common warrants with accredited investors. The offering includes 2,382,084 shares of common stock (or equivalent pre-funded warrants), 3,573,130 shares of Series B preferred stock, and 6,355,214 common warrants, with the initial exercise price of the common warrants set at $1.00 per share. The transaction is expected to close around July 2, 2025, pending standard conditions, with proceeds intended for general corporate purposes and working capital. The shares are being sold under exemptions that prevent general resale without a registration statement. Lixte is focused on developing cancer therapies, including its lead drug candidate, LB-100, which has shown promise in early trials.
Potential Positives
- The company has successfully raised approximately $5.0 million through the sale of shares and warrants, which will provide additional capital to support its operations and development efforts.
- This offering allows the company to potentially enhance its financial position, especially as it continues to advance its clinical projects in cancer therapy.
- The offered securities are being sold at market pricing under Nasdaq rules, indicating a favorable reception and interest from accredited investors.
- The agreement includes a commitment to file registration statements for the resale of the securities, which can improve liquidity for investors and enhance the company's reputation in the market.
Potential Negatives
- The company is raising $5.0 million through a private placement rather than through public offering, which may indicate a lack of confidence from public investors.
- The securities sold are not registered under the Securities Act, potentially limiting their liquidity and raising concerns among investors about their reoffering prospects.
- The dependence on the successful filing of registration statements for the resale of shares may pose additional risks and uncertainties for investors.
FAQ
What is the recent funding amount announced by Lixte Biotechnology?
Lixte Biotechnology announced a funding amount of approximately $5.0 million from accredited investors on June 30, 2025.
What types of securities were offered in this transaction?
The transaction included shares of Common Stock, Series B Convertible Preferred Stock, and Common Warrants.
When is the closing date for the offering?
The closing date for the offering is expected to be on or about July 2, 2025.
Who is the placement agent for this private placement?
Spartan Capital Securities, LLC is acting as the exclusive placement agent for the private placement.
What will Lixte use the net proceeds from the offering for?
The net proceeds will be used for general corporate purposes and working capital.
Disclaimer: This is an AI-generated summary of a press release distributed by GlobeNewswire. The model used to summarize this release may make mistakes. See the full release here.
$LIXT Hedge Fund Activity
We have seen 6 institutional investors add shares of $LIXT stock to their portfolio, and 2 decrease their positions in their most recent quarter.
Here are some of the largest recent moves:
- TIAA TRUST, NATIONAL ASSOCIATION removed 101,834 shares (-100.0%) from their portfolio in Q1 2025, for an estimated $123,219
- FNY INVESTMENT ADVISERS, LLC added 67,781 shares (+172.8%) to their portfolio in Q1 2025, for an estimated $82,015
- CITADEL ADVISORS LLC added 24,522 shares (+inf%) to their portfolio in Q1 2025, for an estimated $29,671
- UBS GROUP AG added 6,335 shares (+323.9%) to their portfolio in Q1 2025, for an estimated $7,665
- GEODE CAPITAL MANAGEMENT, LLC added 6,175 shares (+36.6%) to their portfolio in Q1 2025, for an estimated $7,471
- TOWER RESEARCH CAPITAL LLC (TRC) removed 681 shares (-100.0%) from their portfolio in Q1 2025, for an estimated $824
- SBI SECURITIES CO., LTD. added 151 shares (+397.4%) to their portfolio in Q1 2025, for an estimated $182
To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard.
Full Release
PASADENA, CALIF, July 01, 2025 (GLOBE NEWSWIRE) -- Lixte Biotechnology Holdings, Inc. (NASDAQ: LIXT) (the “Company”), a clinical stage pharmaceutical company, today announced that, on June 30, 2025 intraday, it entered into a definitive agreement with accredited investors on the purchase and sale of approximately $5.0 million of shares of Common Stock (or Pre-Funded Warrants), Series B Convertible Preferred Stock and Common Warrants. The offering was priced at the market under Nasdaq rules.
The offering consists of the sale of an aggregate of 2,382,084 shares of Common Stock (or Pre-funded Warrants in lieu thereof), 3,573,130 shares of Series B Convertible Preferred Stock and 6,355,214 Common Warrants. The Pre-Funded Warrants will be immediately exercisable at an exercise price of $0.00001 and may be exercised at any time until exercised in full. The initial exercise price of each Common Warrant is $1.00 per share of Common Stock. The Common Warrants are exercisable immediately and expire 60 months after the resale registration statement registering the underlying shares is declared effective.
Aggregate gross proceeds to the Company are expected to be approximately $5.0 million, $4.0 million of which will be paid at closing and $1.0 million of which will be paid when the resale registration statement registering Common Stock and the underlying shares is declared effective. The transaction is expected to close on or about July 2, 2025, subject to the satisfaction of customary closing conditions. The Company expects to use the net proceeds from the offering, together with its existing cash, for general corporate purposes and working capital.
Spartan Capital Securities, LLC is acting as exclusive placement agent for the private placement. TroyGould PC is acting as counsel to the Company. Kaufman & Canoles, P.C. is acting as counsel to Spartan Capital Securities, LLC.
The securities described above are being sold in a private placement transaction not involving a public offering and have not been registered under the Securities Act of 1933, as amended (the “Securities Act”), or applicable state securities laws. Accordingly, the securities may not be reoffered or resold in the United States except pursuant to an effective registration statement or an applicable exemption from the registration requirements of the Securities Act and such applicable state securities laws. The securities were offered only to accredited investors. Pursuant to a registration rights agreement with the investors, the Company has agreed to file one or more registration statements with the SEC covering the resale of the Common Stock and the Shares issuable upon exercise of the pre-funded warrants and warrants.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
About Lixte Biotechnology Holdings, Inc.
LIXTE Biotechnology Holdings, Inc. is a clinical-stage pharmaceutical company focused on new targets for cancer drug development and developing and commercializing cancer therapies. LIXTE has demonstrated that its first-in-class lead clinical PP2A inhibitor, LB-100, is well-tolerated in cancer patients at doses associated with anti-cancer activity. Based on extensive published preclinical data (see
www.lixte.com
), LB-100 has the potential to significantly enhance chemotherapies and immunotherapies and improve outcomes for patients with cancer.
LIXTE’s lead compound, LB-100, 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 new approach is covered by a comprehensive patent portfolio. Proof-of-concept clinical trials are currently in progress for colon, small cell lung and sarcoma cancers. Additional information about LIXTE can be found at
www.lixte.com
.
Forward-Looking Statements
The foregoing material may contain “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, each as amended. Forward-looking statements include all statements that do not relate solely to historical or current facts, including without limitation statements regarding the Company’s product development and business prospects, and can be identified by the use of words such as “may,” “will,” “expect,” “project,” “estimate,” “anticipate,” “plan,” “believe,” “potential,” “should,” “continue” or the negative versions of those words or other comparable words. Forward-looking statements are not guarantees of future actions or performance. These forward-looking statements are based on information currently available to the Company and its current plans or expectations and are subject to a number of risks and uncertainties that could significantly affect current plans. Should one or more of these risks or uncertainties materialize, or the underlying assumptions prove incorrect, actual results may differ significantly from those anticipated, believed, estimated, expected, intended, or planned. Although the Company believes that the expectations reflected in the forward-looking statements are reasonable, the Company cannot guarantee future results, performance, or achievements. Except as required by applicable law, including the security laws of the United States, the Company does not intend to update any of the forward-looking statements to conform these statements to actual results.
[email protected]
General Phone: (631) 830-7092; Investor Phone: (888) 289-5533
or
PondelWilkinson Inc. Investor Relations
[email protected]
Roger Pondel: (310) 279-5965; Laurie Berman: (310) 279-5962