Lixte Biotechnology Holdings Inc (NASDAQ: LIXT) is a clinical-stage biotechnology company focused on oncology drug development and proton therapy technology. The company generates no operating revenues and funds its activities entirely through equity and debt financings. LIXT's lead asset is LB-100, a small-molecule compound in early-stage clinical trials as an anti-cancer agent. In November 2025, the company acquired Liora Technologies Europe Ltd., adding a non-clinical LiGHT proton therapy prototype located at the Daresbury Laboratory in the United Kingdom. The company expects to spend approximately $2 million over 24 months to recommission the LiGHT system, and carries annual lease obligations of approximately $787,278 to United Kingdom Research and Innovation. As of December 31, 2025, existing cash was expected to fund operations only through approximately September 30, 2026. As of March 31, 2026, the company had three officer/employees. No dividends are paid or planned.

Revenue model

No revenue. The company is pre-commercial and funds operations through equity and debt financings. The 10-K filed 2026-03-31 states the company does not expect to generate sustainable operating revenues for several years, if ever.

Products and services

LB-100: lead anti-cancer clinical compound in early-stage clinical trials, with remaining contractual clinical trial commitments of approximately $496,000 expected through December 31, 2027. LiGHT proton therapy system: a linear-acceleration proton therapy prototype located at Daresbury Laboratory, UK, acquired via Liora Technologies Europe Ltd. in November 2025. The company is pursuing regulatory clearance for the LiGHT system based on substantial equivalence to existing proton therapy devices.

Customers and end markets

No commercial customers as of the filing date. End markets targeted are oncology (cancer treatment via drug therapy and proton beam radiotherapy). The company operates in the pre-revenue clinical and development stage.

Value-chain role

Early-stage drug developer and pre-commercial medical device developer. LIXT conducts clinical trials for LB-100 and is working to recommission and seek regulatory clearance for a proton therapy system. It relies on contract research organizations and academic facilities for clinical and non-clinical work.

Geographic exposure

United States (corporate operations and clinical programs). United Kingdom (LiGHT proton therapy prototype at Daresbury Laboratory, Cheshire, under lease with United Kingdom Research and Innovation as of the filing date).

Source: SEC 10-K, filed 2026-03-31

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