LIXTE Biotechnology Diversifies Treasury With $2.6M In Cryptocurrency Amid Cancer Drug Development

LIXTE Biotechnology Holdings, Inc., a clinical-stage pharmaceutical company, announced its first investment in cryptocurrencies to diversify its treasury holdings and enable greater flexibility for potential acquisitions.

The company purchased 10.5 Bitcoin (BTC) and 300 Ethereum (ETH) valued at approximately $2.6 million, which now represents about 43.6% of its treasury. LIXTE’s Board of Directors recently approved an allocation of up to 50% of its treasury to cryptocurrencies as part of its long-term financial strategy. 

“Adding Bitcoin and Ethereum to our treasury reflects our commitment to building a balanced and flexible digital asset strategy to complement our cash holdings,” said Geordan Pursglove, LIXTE’s Chairman and Chief Executive Officer. “By diversifying our treasury and enabling transactions across a wide spectrum of mediums, we are positioning LIXTE for greater adaptability and long-term growth in the digital economy. We will continue to monitor opportunities to responsibly integrate cryptocurrency into our business operations and balance sheet management.”

Alongside this treasury diversification, LIXTE remains focused on advancing its lead candidate LB-100, a first-in-class PP2A inhibitor. Clinical data show LB-100 is well tolerated at therapeutic doses and has the potential to enhance both chemotherapies and immunotherapies, aiming to improve outcomes for cancer patients.