Lixte Biotechnology

LIXTE Biotechnology Holdings amends its Development Collaboration Agreement with the Netherlands Cancer Institute and Oncode Institute, temporarily halting study activities until a Phase 1b clinical trial of LB-100 with a WEE1 inhibitor in metastatic colorectal cancer patients begins. The collaboration will resume once the first patient is dosed, continuing for one year with a revised annual budget of €100,000. Lixte also received a Nasdaq extension to meet its minimum stockholders’ equity requirement by February 18, 2025, aiming to raise up to $4 million through equity offerings. The company has revised its director compensation policy to equity-based remuneration.

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Lixte Biotechnology Holdings, Inc. (NASDAQ:LIXT) received an extension from Nasdaq to meet the minimum stockholders’ equity requirement by February 18, 2025. The company plans to regain compliance through registered equity offerings, aiming to raise up to $4 million. Failure to meet the requirement could result in delisting, but Lixte has the option to appeal. Recent developments include changes in director compensation policy and a clinical trial agreement with the Netherlands Cancer Institute for their cancer drug, LB-100.

Lixte Biotechnology Holdings, Inc. received a Nasdaq notice on August 19, 2024, for non-compliance with the $2,500,000 stockholders' equity requirement. The company submitted a compliance plan on October 3, 2024, and filed a Form S-1 on October 22, 2024, to raise $4,000,000. On October 21, 2024, Nasdaq granted an extension to February 18, 2025, for compliance. Failure to comply may result in delisting, with no immediate effect on current trading symbols 'LIXT' and 'LIXTW'.

A new approach to cancer therapy involves stressing tumor cells with an activator, LB-100, then eliminating them with a WEE1 inhibitor, adavosertib. This 'paradoxical intervention' worked well in mice and is set for a phase 1b clinical trial for advanced colorectal cancer.