EAST SETAUKET, N.Y., Sept. 24 /PRNewswire-FirstCall/ -- Lixte Biotechnology Holdings, Inc. (OTC Bulletin Board: LIXT) today announced the trading of its common shares on the Over-The-Counter Bulletin Board under the Symbol LIXT.
Commenting on this important milestone, President and CEO John S. Kovach, M.D. stated, "We believe that being a publicly traded company will enable us to pursue funding opportunities that were not available to us as a private company. Having access to the capital markets is important at this stage of Lixte's development. Over the coming months our strategy is to continue with our research under a Cooperative Research and Development Agreement (CRADA) with the National Institute of Neurological Disorders and Stroke, National Institutes of Health (NIH), while at the same time exploring other cancer research opportunities that Lixte is developing independently."
About Lixte Biotechnology Holdings, Inc.:
Lixte Biotechnology Holdings, Inc. (Lixte) is a cancer therapeutics and diagnostics company. Founded as a biomarker-diagnostics company in 2005, the company develops new chemotherapy drugs targeting molecular abnormalities of common human cancers. Over the past year, based on the discovery of a new biomarker for brain cancers by collaborators at NIH, the company is developing new drugs for the treatment of glioblastoma multiforme (GBM), the most common and most aggressive type of primary brain cancer in adults and, to a much lesser extent, in children.
GBM occurs annually in 20,000 to 25,000 adults in the United States and
in a comparable number of individuals in Europe. At present, there is no
curative treatment known for this disease. Standard treatment involves
surgery, radiation and the use of one or more chemotherapeutic agents at
the time of initial treatment. At relapse, which occurs in essentially all
patients, the present standard treatment is a drug, Temozolomide, that is
associated with a modest increase
|SOURCE Lixte Biotechnology Holdings, Inc.|
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