Lixte Biotechnology Holdings (LIXT) Plans to Raise $9 Million in November 18th IPO

Lixte Biotechnology Holdings (LIXT) expects to raise $9 million in an IPO on Wednesday, November 18th, IPO Scoop reports. The company plans to issue 1,500,000 shares at $5.75-$6.75 per share.

The company has a market cap of $79.2 million.

WestPark Capital and WallachBeth Capital acted as the underwriters for the IPO.

Lixte Biotechnology Holdings provided the following description of their company for its IPO: “(Note: This is not an IPO. This is an up-listing, or a step-up, to the NASDAQ from the OTCQB Marketplace. The company’s stock trades under the symbol “LIXT” on the OTCQB Marketplace, where it is quoted at around $1.18.) We are a drug discovery company that uses biomarker technology to identify enzyme targets associated with serious common diseases and then designs novel compounds to attack those targets. Our product pipeline is primarily focused on inhibitors of protein phosphatases, used alone and in combination with cytotoxic agents and/or X-ray and immune checkpoint blockers. Our leading product candidates are the LB-100 series, which consists of novel structures which have the potential to be first in their class and may be useful in treating several types of cancer as well as vascular and metabolic diseases, and the LB-200 series, which may be useful in treating chronic hereditary diseases such as Gaucher’s disease, in addition to cancer and neurodegenerative diseases.         “.

Lixte Biotechnology Holdings was founded in 2005 and has 4 employees. The company is located at 248 Route 25A, No. 2 East Setauket, NY 11733 and can be reached via phone at (631) 880-2907 or on the web at http://www.lixte.com.

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