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Lixte Biotechnology Holdings, Inc. (NASDAQ:LIXT) shares are trading higher Wednesday after the company announced the publication of pre-clinical data on its lead clinical compound, LB-100.
The Details:
The company announced the publication of pre-clinical data in the online journal, "Cancer Discovery", showing that its lead clinical compound, LB-100, can force cancer cells to give up their cancer-causing properties in a paper entitled “Paradoxical activation of oncogenic signaling as a cancer treatment strategy.”
Lixte said the finding opens a potentially new treatment strategy in addition to its current three clinical trials.
“The effect of LB-100 on cancer cells is unique in that the only way for cancer cells to escape death is to evolve toward a less cancerous behavior. We look forward to testing this concept clinically, which is distinct from the well-characterized enhancement of checkpoint immunotherapy and chemotherapy by LB-100 currently being tested in three clinical trials,” said Bas van der Baan, CEO of Lixte.
Lixte Biotechnology shares are moving on heavy trading volume following the announcement. According to data from Benzinga Pro, more than 21.82 million shares have already been traded in the session, compared to the stock’s 100-day average of less than 38,000 shares.
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By now you're likely curious about how to participate in the market for Lixte Biotechnology (NASDAQ:LIXT) – be it to purchase shares, or even attempt to bet against the company.
Buying shares is typically done through a brokerage account. You can find a list of possible trading platforms here. Many will allow you to buy ‘fractional shares,' which allows you to own portions of stock without buying an entire share. For example, some stock, like Berkshire Hathaway, or Amazon.com, can cost thousands of dollars to own just one share. However, if you only want to invest a fraction of that, brokerages will allow you to do so.
In the the case of Lixte Biotechnology, which is trading at $3.33 as of publishing time, $100 would buy you 30.03 shares of stock.
If you're looking to bet against a company, the process is more complex. You'll need access to an options trading platform, or a broker who will allow you to ‘go short' a share of stock by lending you the shares to sell. The process of shorting a stock can be found at this resource. Otherwise, if your broker allows you to trade options, you can either buy a put option, or sell a call option at a strike price above where shares are currently trading – either way it allows you to profit off of the share price decline.
LIXT Price Action: According to Benzinga Pro, Lixte Biotechnology shares are up 50% at $3.38 at the time of publication Wednesday.
Image: Studio Iris from Pixabay
Posted In: LIXT
