Full Press Release Details
Biotechnology Announces $1.05 Million Registered Direct Offering Priced At-the-Market Under Nasdaq Rules
CALIF., Feb. 11, 2025 - LIXTE Biotechnology Holdings, Inc. ("LIXTE" or the "Company") (Nasdaq: LIXT and
LIXTW), a clinical stage pharmaceutical company, today announced that it has entered into definitive agreements for the purchase and
sale of an aggregate of 434,784 shares of its common stock at a purchase price of $2.415 per share, in a registered direct offering priced
at-the-market under Nasdaq rules. In addition, in a concurrent private placement, the Company will issue unregistered warrants to purchase
up to an aggregate of 434,784 shares of common stock. The warrants will have an exercise price of $2.29 per share and will be exercisable
for five years from the date of issuance. The closing of the offering is expected to occur on or about February 12, 2025, subject to
the satisfaction of customary closing conditions.
Wainwright & Co. is acting as the exclusive placement agent for the offering.
aggregate gross proceeds to the Company from the offering are expected to be approximately $1.05 million, before deducting the placement
agent fees and other offering expenses payable by the Company. The Company currently intends to use the net proceeds from the offering
for working capital and other general corporate purposes.
shares of common stock (but not the warrants issued in the private placement or the shares of common stock underlying such warrants)
are being offered by the Company pursuant to a "shelf" registration statement on Form S-3 (File No. 333-278874) originally
filed with the Securities and Exchange Commission ("SEC") on April 23, 2024 and became effective on May 2, 2024. The registered
direct offering of the shares of common stock is being made only by means of a prospectus, including a prospectus supplement, forming
a part of the effective registration statement. The prospectus supplement and the accompanying prospectus relating to the shares of common
stock being offered in the registered direct offering will be filed with the SEC and be available at the SEC's website at www.sec.gov.
Electronic copies of the prospectus supplement and the accompanying prospectus relating to the registered direct offering may also be
obtained, when available, by contacting H.C. Wainwright & Co., LLC at 430 Park Avenue, 3rd Floor, New York, NY 10022, by telephone
at (212) 856-5711 or e-mail at placements@hcwco.com.
warrants described above are being issued in a concurrent private placement under Section 4(a)(2) of the Securities Act of 1933, as amended
(the "Securities Act"), and Regulation D promulgated thereunder and, along with the shares of common stock underlying the
warrants, have not been registered under the Securities Act, or applicable state securities laws. Accordingly, the warrants and underlying
shares of common stock may not be offered or sold 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.
press release shall not constitute an offer to sell or the solicitation of an offer to buy any of the securities described herein, 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 the registration or qualification under the securities laws of any such state or jurisdiction.
LIXTE Biotechnology Holdings, Inc.
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, LB-100 has the potential
to significantly improve outcomes for patients undergoing various chemotherapies or immunotherapies. LIXTE's new approach has no
known competitors and is covered by a comprehensive patent portfolio. Proof-of-concept clinical trials are in progress. 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. Additional information about LIXTE can be found at www.lixte.com.
Statement Disclaimer
announcement contains certain 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. For example, statements regarding the Company's ability to consummation of the offering,
the satisfaction of the closing conditions of the offering and the use of proceeds therefrom, the Company's financial position,
business strategy and other plans and objectives for future operations, and assumptions and predictions about future activities, including
the continuing development of proprietary compounds, the planning, funding, coordination and potential results of clinical trials, the
patent and legal costs to protect and maintain the Company's intellectual property worldwide, and the Company's ability to
obtain and maintain compliance with Nasdaq's continued listing requirements, are all forward-looking statements. These statements
are generally accompanied by words such as "intend," anticipate," "believe," "estimate," "potential(ly),"
"continue," "forecast," "predict," "plan," "may," "will," "could,"
"would," "should," "expect" or the negative of such terms or other comparable terminology.
Company believes that the assumptions and expectations reflected in such forward-looking statements are reasonable, based on information
available to it on the date hereof, but the Company cannot provide assurances that these assumptions and expectations will prove to have
been correct or that the Company will take any action that the Company may presently be planning. However, these forward-looking statements
are inherently subject to known and unknown risks and uncertainties. Actual results or experience may differ materially from those expected
or anticipated in the forward-looking statements. Factors that could cause or contribute to such differences include, but are not limited
to, regulatory policies, available cash resources, research results, competition from other similar businesses, and market and general
are urged to read the risk factors set forth in the Company's filings with the United States Securities and Exchange Commission
at https://www.sec.gov. The Company disclaims any intention or obligation to update or revise any forward-looking statements,
whether as a result of new information, future events or otherwise, except as required by law.
more information about LIXTE, contact: info@lixte.com
Phone: (631) 830-7092; Investor Phone: (888) 289-5533
Inc. Investor Relations
Pondel: (310) 279-5965; Laurie Berman: (310) 279-5962