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Lixte Biotechnology Stock Surges on Positive Data -Breaking

by Mike Robinson

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© Reuters.

Sam Boughedda

Investing.com — Lixte Biotechnology Holdings Inc. (NASDAQ) saw shares rise 62% after the company revealed that its leading clinical compound, LB100 increased the responses of different cancers to immunotherapy. 

Lixte says that LB-100 (a protein phosphatase inhibitor (PP2A), was discovered by Taiwanese researchers to increase the success rate for anti-cancer immunotherapy.

John Kovach (founder and CEO of Lixte) said, “Recent advancements in therapy using immune checkpoint inhibits have been an incredible breakthrough in developing more effective treatment for many kinds of cancers.”

Immunotherapy is not an option for most patients with cancer. “There are many attempts to transform unresponsive (‘cold) tumors into responsive (“hot”) tumors,” he said.

Lixte shares increased more than twice in the first part of Wednesday’s session.

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