LIXTE Biotechnology raises $16.6 million through registered direct offering

LIXTE Biotechnology Holdings Inc. (NASDAQ: LIXT) completed a registered direct offering worth approximately $16.6 million through the sale of common stock and pre-funded warrants to accredited investors.

The company sold 2,625,362 shares of common stock and pre-funded warrants at $6.31 per share and $0.0001 per pre-funded warrant. Each pre-funded warrant entitles the holder to purchase one share of common stock and is immediately exercisable.

The offering was priced at market rates under Nasdaq rules and is expected to close on June 3, 2026, subject to customary closing conditions. LIXTE plans to use the net proceeds for general corporate purposes, working capital, and strategic initiatives.

"With this financing, LIXTE moves forward with a materially stronger balance sheet and the flexibility to pursue its next phase of growth," said Geordan Pursglove, Chief Executive Officer of LIXTE Biotechnology Holdings.

The announcement follows the recent appointment of Stuart Porter, founder of Denham Capital, to the company's board of directors. Porter brings over three decades of investment experience in the energy and infrastructure sectors.

The offering was conducted under an effective shelf registration statement on Form S-3 filed with the Securities and Exchange Commission and declared effective on May 2, 2024. Sichenzia Ross Ference Carmel LLP served as counsel to the company.

LIXTE is a clinical-stage pharmaceutical company focused on cancer drug development, with its lead compound LB-100 currently in clinical trials for ovarian clear cell carcinoma, metastatic colon cancer, and advanced soft tissue sarcoma.

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