JERSEY CITY, N.J., March 2, 2021 /PRNewswire/ -- WallachBeth
Capital, a leading provider of capital markets and institutional
execution services, announced the completion of a Registered Direct
Offering for Lixte Biotechnology Holdings, Inc. (Nasdaq: LIXT), a
clinical-stage drug discovery company developing pharmacologically
active drugs for use in cancer treatment with certain institutional
and accredited investors for $4.19
million of common stock. The Company issued a total of
1,133,102 shares of common stock, at a purchase price of
$3.70 per share.
WallachBeth Capital, LLC acted as Co-Placement Agent for the
offering.
The gross proceeds to Lixte from this offering are expected to
be approximately $4.19 million before
deducting the placement agents' fees and other offering expenses
payable by Lixte. The company intends to use the net proceeds from
the offering for working capital and general expenses including
further development of its lead clinical compound LB-100.
The shares of common stock were offered by Lixte pursuant to a
"shelf" registration statement on Form S-3 (File No. 333-252430)
previously filed with the Securities and Exchange Commission (the
"SEC") on January 26, 2021 and
declared effective by the SEC on February 5,
2021.
A prospectus supplement and accompanying prospectus relating to
the securities being offered have been filed with the SEC.
Electronic copies of the final prospectus supplement and
accompanying prospectus may be obtained on the SEC's website at
http://www.sec.gov or from: WestPark Capital, Inc. - Attention:
Jason Stern, 1900 Avenue of the
Stars, 3rd Floor, Los Angeles, CA
90077 or by Email: syndicate@wpcapital.com or by telephone at (310)
203-2919.
This press release shall not constitute an offer to sell or a
solicitation of an offer to buy these securities, nor shall there
be any sale of these securities in any state or other 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 other jurisdiction.
About Lixte Biotechnology Holdings, Inc.
Lixte Biotechnology Holdings, Inc. (Nasdaq: LIXT) is a
clinical-stage pharmaceutical company dedicated to discovering
drugs for more effective treatments for many forms of cancer and
other serious common diseases. A major driver of cancer is defects
in the switches that turn the biochemical pathways in cells on and
off. Most cancer research over the past 30 years has focused on the
"on" switches because the "off" switches, especially the master
"off" switch protein phosphatase (PP2A), were believed to cause
intolerable toxicity in patients. Lixte has achieved a breakthrough
with its novel, first-in-class lead compound, PP2A inhibitor
LB-100, by demonstrating that it is readily tolerated in cancer
patients at doses associated with anti-cancer activity. This
innovative approach encourages cancer cells, weakened by chemo or
other cancer therapies, to continue to replicate before repairing
the damage, leading to the more efficient death and elimination of
those cells from the body. Lixte has partnered with top medical
institutions and leading academic research centers to advance the
clinical development of its compounds. The LB-100 compound, of
which there are no competitors known to Lixte, is currently being
tested in three clinical studies with others in planning.
www.lixte.com
About WallachBeth Capital LLC
WallachBeth Capital offers a robust range of capital markets and
investment banking services to the healthcare community, connecting
corporate clients with leading institutions, creating value for
both issuers and investors. The firm's experience includes initial
public offerings, follow-on issues, PIPE offerings, and private
transactions. WallachBeth Capital is a leading provider of
institutional execution services, offering clients a full spectrum
of solutions to help them navigate increasingly complex markets.
The firm's website is located at www.wallachbeth.com.
Forward-Looking Statements
This 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 financial position,
business strategy and other plans and objectives for future
operations, and assumptions and predictions about future product
demand, supply, manufacturing, costs, marketing and pricing factors
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. The 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, research results, competition from other similar
businesses, and market and general economic factors. This
discussion should be read in conjunction with the Company's filings
with the U.S. Securities and Exchange Commission at
www.sec.gov.
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