Lixte Biotechnology Holdings, Inc. (NASDAQ:LIXT) has entered into a significant agreement with the Netherlands Cancer Institute (NKI) to conduct a clinical trial for its cancer treatment, LB-100. The trial, set to begin by June 30, 2024, will focus on the drug's efficacy in metastatic colon cancer patients when combined with atezolizumab, a PD-L1 inhibitor owned by F. Hoffman-La Roche Ltd.
Under the terms of the agreement, which took effect on Monday, Lixte will supply LB-100, while Roche will provide atezolizumab and fund the trial. Lixte is not responsible for any clinical trial costs. The study, led by Dr. Neeltje Steeghs at NKI’s Amsterdam site, aims to enhance the body’s immune response against cancer cells by combining LB-100 with atezolizumab.
LB-100 works by inhibiting a protein on cell surfaces known as PP2A, which increases stress signals in tumor cells and potentially makes them more susceptible to immunotherapy. The upcoming trial will include a dose escalation phase to establish the optimal LB-100 dosage and a subsequent phase to assess clinical activity and safety. Up to 37 advanced colorectal cancer patients will participate over 24 months.
This collaboration ensures the protection of intellectual property rights for Lixte, NKI, and Roche. Results from the trial could pave the way for a new combination therapy for metastatic colorectal cancer, a disease where immunotherapy has shown promise.
The information is based on a press release statement and the Clinical Trial Agreement filed with the SEC.
InvestingPro Insights
Lixte Biotechnology Holdings, Inc. (NASDAQ:LIXT) has recently garnered attention with its strategic partnership for the clinical trial of LB-100, which could mark a significant step forward in metastatic colon cancer treatment. Reflecting on Lixte's financial health and market behavior, InvestingPro data shows a market capitalization of $5.67 million, indicating a relatively small player in the biotech industry. Despite a challenging financial performance with an adjusted P/E ratio for the last twelve months as of Q1 2024 at -1.21, the company holds a notable InvestingPro Tip: Lixte has more cash than debt on its balance sheet, which could provide some financial flexibility as it advances its clinical programs.
Investors might also take interest in the company's recent price movements. Lixte has experienced a significant return over the last week with a 19.43% increase, although it has faced a decline of 49.3% over the past year. This volatility is underscored by another InvestingPro Tip: the stock price often moves in the opposite direction of the market, a trait that risk-tolerant investors might find appealing.
For those considering an investment in Lixte, it's worth noting that the company does not pay a dividend, as per InvestingPro Tips, which may influence the decision-making of income-focused investors. Moreover, for a more comprehensive analysis of Lixte and additional insights, there are 6 more tips available on InvestingPro. Interested readers can enhance their investment strategy by using the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription at InvestingPro.
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