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Lixte Biotechnology Holdings, Inc. (LIXT) stock has reached a new 52-week low, trading at $1.15. According to InvestingPro data, the micro-cap biotech company, valued at $2.65 million, maintains strong liquidity with a current ratio of 5.13. This latest price point underscores a challenging period for the biotech firm, which has seen its stock value contract by 40.88% year-to-date. With a low beta of 0.19, LIXT shows limited correlation to broader market movements. Investors have been closely monitoring LIXT as it navigates through a volatile market, with the company’s performance reflecting broader trends in the biotechnology sector. InvestingPro subscribers have access to 6 additional key insights about LIXT’s financial health and performance outlook. The 52-week low serves as a critical indicator for shareholders and potential investors, marking the lowest price level the stock has hit in the last year and setting a new benchmark for the company’s market valuation. With earnings scheduled in 14 days, investors should watch closely for potential catalysts.
In other recent news, Lixte Biotechnology Holdings, Inc. is facing the potential delisting from the Nasdaq Capital Market due to not meeting the minimum stockholders’ equity requirement of $2.5 million. Despite submitting a compliance plan and being granted an extension, the company failed to meet the deadline, leading to a Staff determination letter. Lixte plans to appeal and request a hearing before a Nasdaq Hearings Panel, which might extend the deadline to August 18, 2025. Additionally, Lixte Biotechnology has entered into a sales agreement with WallachBeth Capital, LLC, to offer and sell common stock shares up to $1.7 million through an at-the-market offering. Proceeds from these sales are intended for working capital and development of their lead clinical compound, LB-100. In another development, the company announced the resignation of Eric Forman, Vice President and Chief Operating Officer, effective December 31, 2024, citing personal reasons. The resignation is not due to any disagreement with the company’s operations or policies. Lixte has not yet named a successor or outlined a transition plan following Forman’s departure.
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