Analyst Summary
- Lixte Biotechnology Holdings, Inc. received a letter from Nasdaq on August 19, 2024, indicating non-compliance with the minimum stockholders’ equity requirement of $2,500,000.
- The Company submitted a plan to regain compliance, which included raising equity capital.
- Nasdaq granted an extension until February 18, 2025, to regain compliance.
- As of February 18, 2025, the Company had not regained compliance, leading to a Staff determination letter from Nasdaq.
- The Company intends to appeal and request a hearing before a Nasdaq Hearings Panel.
- The hearing request will stay Nasdaq’s delisting of the Company’s common shares and warrants pending the Panel’s decision.
- The Panel has the discretion to grant an additional extension through no later than August 18, 2025.
- During the appeal process, the Company’s common shares and warrants will continue to trade on The Nasdaq Capital Market under the symbols “LIXT” and “LIXTW”, respectively.
Potential Implications
Stock Price
- Continued trading on The Nasdaq Capital Market under the symbols “LIXT” and “LIXTW” during the appeal process.
- Potential delisting from Nasdaq if the Company fails to regain compliance within the permitted time period.