What’s going on with Lixte Biotechnology Holdings Inc (PINK:LIXT) these days? Yesterday, the stock started moving down and 
lost 25% of its market price, while its traded volume notably jumped up. Though, no reasonable explanation on the loss can be found.
Historical data shows that Lixte has not released any news on its business since May this year. Most probably just the lack of information was the reason for the price fall as presently no one is familiar with the company’s operations. Though, Lixte remains silent and its next move is just about to be seen.
Lixte Biotechnology Holdings, Inc. is a biotechnology company engaged in the development of improved treatments for cancer and methods for detecting cancer. Two months ago, the company reported its financial results, which however, didn’t inspire much optimism.[BANNER]
As of March 31, this year Lixte had more assets than liabilities in its balance, though the company was still in a development stage and the deficit accumulated during this period totaled over $6 million. Also, Lixte had substantial losses, while at the same time – no revenues and insufficient cash resources.
The management claims that they don’t expect to generate any revenues from operations in the foreseeable future. In this case, the company’s ability to continue as a going concern is dependent upon its ability to develop additional sources of capital and to ultimately achieve sustainable revenues and profitable operations. This, however, cannot be guaranteed.
