LIXTE Biotechnology Holdings, Inc. (NASDAQ: LIXT) is engaged as a clinical-stage pharmaceutical company, which is focused on the research, development and commercialization of cancer treatments and therapies. Shares of the cancer pharma company are skyrocketing 226% through early trading on Tuesday, April 12, 2022. Over the past three months, LIXTE Biotechnology has seen average daily volume of 76,380 shares. However, volume of 131.9 million shares or dollar volume of around $484.07 million, has already exchanged hands through early trading.
Shares of LIXTE Biotechnology are soaring after the company reported preclinical results of its leading clinical cancer compound, LB-100, in collaboration with the Netherlands Cancer Institute (NKI). Professor RenéBernards of the NKI presented the data from the preclinical study at the Annual Meeting of American Association for Cancer Research (AACR) in New Orleans, LA.
During the presentation, Prof. Bernards demonstrated how the data shows LB-100 in combination with novel drugs, was able to increase activation of oncogenic signaling in several KRAS-mutant cancers. This made the cancers more vulnerable to anti-cancer therapies. Furthermore, CRISPR-based genetic screening and screening of potential compounds demonstrated that LB-10 is “synthetically lethal” when combining with inhibitors of the mitotic entry kinase WEE1. These results were confirmed when examinine a grouping of colorectal cancer cell lines with various mutations.
John S. Kovach MD, Founder and CEO of LIXTE Biotechnology Holdings, Inc.: “We are delighted to be working with Professor Bernards and his team. Professor Bernards’ insights and contributions enable us to take full advantage of the unique anti-cancer properties of LB-100. His creativity in developing new anti-cancer drug combinations has already had a significant impact on cancer care. His current observations of unexpected synergy of LB-100 with a variety of standard agents and with investigational compounds with only modest activity on their own are promising leads to a new approach to cancer chemotherapy.”
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