Biotech Steals The Show Following Pre-Clinical Data Announcement

By: Dylan Sikes – AllPennyStocks.com News

Wednesday, March 27, 2024

A California-based biotech company stirred things up on Wednesday after it was announced the publication of preclinical data on its lead clinical compound, LB-100.

Traders couldn’t get their hands on shares of Lixte Biotechnology Holdings Inc. (Nasdaq:LIXT), pushing shares of the micro cap up to an early session high of $4.40/share (+95.12%). This move just might confirm support found earlier this year, which could be an indication of things to come!

Lixte Biotech Holdings Inc is 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. The company focuses on developing new treatments for human cancers for which therapies are urgently needed. It mainly designs drugs for which there are existing data suggesting any effect on altered pathways of the cancer cell and may be given safely to humans. The development program of the company includes drugs for the treatment of cancer, consisting of protein phosphatase inhibitors and histone deacetylase inhibitors.

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