HomeEquities ScoreHere is why Lixte Biotechnology Holdings Inc. (LIXT) stock skyrocketed on Wednesday?

Here is why Lixte Biotechnology Holdings Inc. (LIXT) stock skyrocketed on Wednesday?

Lixte Biotechnology Holdings Inc. (LIXT) shares declined 0.90% in after-hours on Wednesday, January 05, 2021, and closed the daily trading at $2.19. However, in the regular trading session on Wednesday, LIXT’s stock gained 63.70%. LIXT shares have fallen 31.05% over the last 12 months, and they have moved up 88.89% in the past week. Over the past three months, the stock has gained 26.29%, while over the past six months, it has lost 26.09%.

Let’s have a look at its recent news and developments.


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LIXT reported positive results of LB-100

On January 05, 2022, Lixte Biotechnology Holdings, Inc. (LIXT), lead clinical compound, LB-100, a protein phosphatase (PP2A) inhibitor, was found to increase the responsiveness of diverse cancers to immunotherapy, in preclinical studies.

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The lead author reported that the treatment with LB-100 is associated with new antigen production, tumor infiltration of cytotoxic T cells, and enhanced responsiveness to immune checkpoint blockade in mouse models of colorectal, triple-negative breast, and pancreatic cancer. The clinical data indicate that PP2A inhibition can be used to change the intrinsic and extrinsic factors of tumors to improve the success rate of anti-cancer immunotherapy.

LIXT resume patient enrollment for LB-100

On November 22, 2021, the National Cancer Institute (NCI) resumed enrolling patients into their pharmacologic study of the ability of Lixte’s lead compound, LB-100, to enter the brain and penetrate recurrent, malignant brain tumors, in patients where surgical removal of their cancer is indicated.

The enrollment was suspended in 2020 due to the Covid-19 pandemic. The NCI can enroll up to 20 patients to obtain 8 evaluable subjects. If at least 1 of 5 demonstrates the presence of LB-100 in tumor tissue, 3 additional subjects will be enrolled. The study will be considered significant if at least 2 of the 8 patients demonstrate LB-100 in tumor tissue.

LIXT collaboration with NKI & Oncode Institute

On October 13, 2021, Lixte Biotechnology Holdings, Inc. (LIXT) entered into a collaboration with the Netherlands Cancer Institute, Amsterdam (NKI), and Oncode Institute, to identify the most promising drugs to be combined with LB-100, and potentially LB-100 analogues, to be used to treat a range of cancers, as well as to identify the specific molecular mechanisms underlying the identified combinations.

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Conclusion

The positive data released from LIXT was the reason behind its exceptional surge on Wednesday and we can expect it to continue its positive performance on Thursday as well.

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