JERSEY CITY, N.J., April 14, 2022 /PRNewswire/ -- WallachBeth
Capital LLC, a leading provider of capital markets and
institutional execution services, announced the completion of the
purchase and sale of 2,900,000 shares of LIXTE Biotechnology
Holdings, Inc.'s (Nasdaq: LIXT) common stock, at a purchase price
of $2.00 per share, in a registered direct offering for total
gross proceeds of $5.8 million,
before deducting underwriting discounts and commissions and other
estimated offering expenses.
WallachBeth Capital, LLC and WestPark Capital, Inc. acted as
co-placement agents for the offering.
About LIXTE Biotechnology Holdings, Inc.
LIXTE
Biotechnology Holdings, Inc. (Nasdaq: LIXT), is a clinical-stage
pharmaceutical company focused on new targets for cancer drug
development and developing and commercializing cancer therapies.
Major drivers of cancer are defects in the switches that turn the
biochemical pathways in cells on or 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 clinical compound and PP2A inhibitor, LB-100,
demonstrating that LB-100 is readily tolerated in cancer patients
at doses associated with anti-cancer activity. Based on extensive
published preclinical data (see www.lixte.com), 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. Initial proof-of-concept clinical trials are in
progress.
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.
The shares of common stock are being 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. The offering of the securities
will be made only by means of a prospectus, including a prospectus
supplement, forming a part of the effective registration statement.
A final prospectus supplement and accompanying prospectus relating
to the securities being offered will be filed with the SEC.
Electronic copies of the final prospectus supplement and
accompanying prospectus may be obtained, when available, on
the SEC's website at http://www.sec.gov or from WallachBeth
Capital, LLC, via email at cap-mkts@wallachbeth.com.
This press release does not constitute an offer to sell or the
solicitation of an offer to buy these securities, 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
registration or qualification under the securities laws of that
state or jurisdiction.
Related Links
https://www.wallachbeth.com
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SOURCE WallachBeth Capital LLC