Lixte Biotechnology Announces Clinical Trial Agreement

On Tuesday (August 21), Lixte Biotechnology (OTCQB:LIXT) announced a new clinical trial agreement with the Florida-based Moffitt Cancer Center.

The clinical trial and exclusive license agreement will allow the two to conduct a Phase 1b study of the safety and therapeutic benefit of Lixte’s lead clinical compound, LB-100, to treat myelodysplastic syndrome (MDS) patients.

MDS patients at low and intermediate-1 risk, including those that failed or are intolerant to standard treatment, are able to enter the trial.

“In preclinical models of MDS, treatment with LB-100 inhibits the growth and/or induces the death of the abnormal blood cells,” Lixte CEO Dr. John Kovach said in a press release.

“If LB-100 proves to be effective in the clinic, it could be an important addition to the limited treatment options for patients failing standard treatment.”

MDS is a family of rare bone marrow disorders in an adequate amount of red blood cells, white blood cells or platelets are not produced. This causes patients to need frequent blood transfusions as a result of significant anemia.

About 50,000 to 75,000 people are currently diagnosed with some form of MDS in the US, according to the AAMDS International Foundation.

The only currently US Food and Drug Administration-approved drug is lenalidomide, but virtually all patients become resistant to the treatment.

Moffitt is a,National Cancer Institute-designated Comprehensive Cancer Center, and a top cancer hospital. Lixte is distinct for identifying enzyme targets associated with serious diseases and designs novel compounds to attack the targets.

Other drug candidates in its pipeline include candidates for solid tumors, acute ischemia, vascular complications fungal dermatitis and more. All but LB-100 are in preclinical development currently.

Investor takeaway

Lixte’s share price increased 60 percent over Tuesday’s trading period to close the session at to US$0.80, up from US$0.50.

It’s uncertain when the company will begin the current trial, but investors interested in Lixte can follow the news for further updates on this new agreement and other updates on its pipeline.

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Securities Disclosure: I, Gabrielle Lakusta, hold no direct investment interest in any company mentioned in this article.