Lixte Biotechnology Holdings Granted Extension by Nasdaq to Regain Compliance with Stockholders’ Equity Requirement

Lixte Biotechnology Holdings, Inc. (NASDAQ: LIXT) recently disclosed in a Form 8-K filing to the Securities and Exchange Commission that it has received an extension from Nasdaq to restore compliance with the Stockholders’ Equity Requirement. This extension comes following a prior indication from Nasdaq that the company did not meet the minimum stockholders’ equity requirement of $2,500,000 for continued listing on the Nasdaq Capital Market under Listing Rule 5550(b).

A plan was submitted by Lixte Biotechnology on October 3, 2024, outlining proposed initiatives to meet the Stockholders’ Equity Requirement. The plan included raising equity capital through various registered equity offerings. To support this plan, the company filed a Registration Statement on Form S-1 with the SEC on October 22, 2024, aiming to secure up to $4,000,000 of equity capital.

On October 21, 2024, Nasdaq notified Lixte Biotechnology that an extension has been granted until February 18, 2025, to comply with the Stockholders’ Equity Requirement. The company is required to finalize its capital raising activities and demonstrate adherence with the requirement by submitting a Current Report on Form 8-K to the SEC with specified details by the deadline.

Failure to demonstrate compliance with the Stockholders’ Equity Requirement in the quarterly report ending March 31, 2025, could lead to potential delisting. In such an event, Lixte Biotechnology would have the option to appeal to a Nasdaq hearings panel. However, there are no guarantees that the company will achieve compliance within the granted extension period.

Despite these developments, the current listing of Lixte Biotechnology’s common shares under the symbol “LIXT” and warrants under the symbol “LIXTW” on The Nasdaq Capital Market remains unaffected by the Notice issued by Nasdaq.

The company’s Chief Executive Officer, Bastiaan van der Baan, signed the Form 8-K report on behalf of Lixte Biotechnology Holdings, Inc., as per the regulatory requirements.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Lixte Biotechnology’s 8K filing here.

Lixte Biotechnology Company Profile

LIXTE Biotechnology Holdings, Inc, a clinical-stage pharmaceutical company, focuses on identifying targets for cancer drug development, and developing and commercializing cancer therapies. Its lead product candidate, LB-100 is in phase 1b clinical trials combined with Atezolizumab for patients with microsatellite stable metastatic colon cancer.