The company continues to report zero revenue while quarterly SG&A expenses surged to $1.7 million in 2026Q1, significantly outpacing historical averages.
| Metric | TTM | Dec'25 | Dec'24 | Dec'23 | Dec'22 | Dec'21 | Dec'20 | Dec'19 | Dec'18 | Dec'17 | Dec'16 | Dec'15 | Dec'14 | Dec'13 | Dec'12 | Dec'11 | Dec'10 | Dec'09 | Dec'08 | Dec'07 | Dec'06 | Dec'05 |
|---|
| Sales/Revenue | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 200K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Revenue Growth % | - | - | - | - | - | - | - | - | - | - | -100% | - | - | - | - | - | - | - | - | - | - | - |
| Cost of Goods Sold | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 128 | 615 | 592 | 462 | 0 |
| COGS % of Revenue | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Gross Profit | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 200K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Gross Margin % | - | - | - | - | - | - | - | - | - | - | - | 100% | - | - | - | - | - | - | - | - | - | - |
| Gross Profit Growth % | - | - | - | - | - | - | - | - | - | - | -100% | - | - | - | - | - | - | - | - | - | - | - |
| Operating Expenses | 6.39M | 5.11M | 3.57M | 5.09M | 6.31M | 6.72M | 3.27M | 2.49M | 2.14M | 1.81M | 2.13M | 2.85M | 2.4M | 1.38M | 2.11M | 1.87M | 881.68K | 1.55M | 1.27M | 1.66M | 449.98K | 32.87K |
| OpEx % of Revenue | - | - | - | - | - | - | - | - | - | - | - | 1423% | - | - | - | - | - | - | - | - | - | - |
| Selling, General & Admin | 5.89M | 4.85M | 2.85M | 4.19M | 4.96M | 4.98M | 2.04M | 1.67M | 2.1M | 1.34M | 833.78K | 754.44K | 1.28M | 494.96K | 1.09M | 533.45K | 436.14K | 1.05M | 664.2K | 1.24M | 299.42K | 32.87K |
| SG&A % of Revenue | - | - | - | - | - | - | - | - | - | - | - | 377.22% | - | - | - | - | - | - | - | - | - | - |
| Research & Development | 496.84K | 254.92K | 726.23K | 898.1K | 1.35M | 1.74M | 1.22M | 820.91K | 40.7K | 467.26K | 1.3M | 2.09M | 1.12M | 879.89K | 1.01M | 1.33M | 445.54K | 496.52K | 608.73K | 423.83K | 150.1K | 0 |
| R&D % of Revenue | - | - | - | - | - | - | - | - | - | - | - | 1046% | - | - | - | - | - | - | - | - | - | - |
| Other Operating Expenses | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 128 | 615 | 592 | 462 | 0 |
| Operating Income | -6.39M | -5.11M | -3.57M | -5.09M | -6.31M | -6.72M | -3.27M | -2.49M | -2.14M | -1.81M | -2.13M | -2.65M | -2.4M | -1.38M | -2.11M | -1.87M | -882K | -1.55M | -1.27M | -1.66M | -449.98K | -32.87K |
| Operating Margin % | - | - | - | - | - | - | - | - | - | - | - | -1323% | - | - | - | - | - | - | - | - | - | - |
| Operating Income Growth % | - | -42.96% | 29.81% | 19.35% | 6.09% | -105.74% | -31.18% | -16.46% | -18.14% | 15.23% | 19.32% | -10.11% | -74.76% | 34.7% | -12.73% | -111.79% | 43.11% | -21.73% | 23.23% | -268.68% | -1269.02% | - |
| EBITDA | -7.33M | -6M | -3.57M | -5.07M | -6.3M | -6.72M | 0 | -2.44M | 0 | 0 | 0 | -2.44M | -2.04M | -1.37M | -2.11M | -1.67M | -882K | -1.55M | -1.27M | -1.66M | -449.52K | -32.87K |
| EBITDA Margin % | - | - | - | - | - | - | - | - | - | - | - | -1220.11% | - | - | - | - | - | - | - | - | - | - |
| EBITDA Growth % | -268.11% | -68.12% | 29.61% | 19.56% | 6.21% | - | 100% | - | - | - | 100% | -19.63% | -48.36% | 34.7% | -26.23% | -89.13% | 43.1% | -21.78% | 23.24% | -268.93% | -1267.61% | - |
| D&A (Non-Cash Add-back) | 0 | 0 | 0 | 0 | 0 | 0 | 3.27M | 0 | 2.14M | 1.81M | 2.13M | 205.77K | 363.11K | 3 | 8 | 199.84K | 0 | 128 | 615 | 592 | 462 | 0 |
| EBIT | -7.33M | -6M | -3.57M | -5.07M | -6.3M | -6.72M | -3.27M | -2.44M | -2.13M | -1.81M | -2.13M | -2.65M | -2.77M | -1.38M | -3.58M | -2.07M | -880K | -1.55M | -1.27M | -1.65M | -562.08K | 0 |
| Net Interest Income | 4.29K | -1.77K | 7.05K | 1.25K | 2.32K | -6.79K | 1.56K | 49.72K | 0 | 0 | 0 | 78 | 0 | 0 | 0 | 0 | 0 | -1.08K | 2.03K | 0 | 0 | 0 |
| Interest Income | 10.32K | 7.39K | 7.05K | 1.25K | 11.2K | 626 | 5.23K | 49.72K | 4.92K | 1.38K | 183 | 78 | 66 | 3 | 8 | 125 | 1.43K | 155 | 3.26K | 10.55K | 11.9K | 0 |
| Interest Expense | 6.02K | 9.16K | 0 | 0 | 8.88K | 7.41K | 3.67K | 0 | 4.92K | 1.38K | 183 | 0 | 66 | 3 | 8 | 125 | 1.43K | 1.23K | 1.23K | 0 | 0 | 0 |
| Other Income/Expense | -949.85K | -901.9K | -13.18K | 3.21K | -1.05K | -7.95K | 1.56K | 49.72K | 4.92K | 1.38K | 183 | -206K | -363K | 3 | -1.47M | -200K | 1.43K | -1.08K | 2.03K | 10.55K | -38.1K | 0 |
| Pretax Income | -7.34M | -6.01M | -3.59M | -5.09M | -6.31M | -6.73M | -3.26M | -2.44M | -2.13M | -1.81M | -2.13M | -2.85M | -2.77M | -1.38M | -3.58K | -2.07M | -880K | -1.55M | -1.27M | -1.65M | -488.08K | 0 |
| Pretax Margin % | - | - | - | - | - | - | - | - | - | - | - | -1426% | - | - | - | - | - | - | - | - | - | - |
| Income Tax | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -9.85K | -1.81K | -2.13K | -78 | -66 | 0 | -8 | -125 | 0 | 0 | 0 | 0 | 38.1K | 32.87K |
| Effective Tax Rate % | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0.46% | 0.1% | 0.1% | 0% | 0% | 0% | 0.22% | 0.01% | 0% | 0% | 0% | 0% | -7.81% | - |
| Net Income | -7.27M | -6.01M | -3.59M | -5.09M | -6.31M | -6.73M | -3.26M | -2.44M | -2.13M | -1.81M | -2.13M | -2.85M | -2.77M | -1.38M | -3.58K | -2.07M | -880K | -1.55M | -1.27M | -1.65M | -488.08K | -32.87K |
| Net Margin % | - | - | - | - | - | - | - | - | - | - | - | -1426% | - | - | - | - | - | - | - | - | - | - |
| Net Income Growth % | -118.82% | -67.58% | 29.51% | 19.41% | 6.18% | -106.08% | -33.79% | -14.4% | -17.96% | 15.29% | 25.15% | -3.11% | -101.16% | -38314.62% | 99.83% | -135% | 43.27% | -22.01% | 22.84% | -237.65% | -1384.94% | - |
| Net Income (Continuing) | -7.34M | -6.01M | -3.59M | -5.09M | -6.31M | -6.73M | -3.26M | -2.44M | -2.13M | -1.81M | -2.13M | -2.85M | -2.77M | -1.38M | -3.58M | -2.07M | -880K | -1.55M | -1.27M | -1.65M | -562.08K | -32.87K |
| Discontinued Operations | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 1.23M | 1.3M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| EPS (Diluted) | -0.67 | -1.26 | -1.59 | -2.66 | -4.00 | -5.00 | -2.89 | -2.20 | -2.18 | -1.94 | -2.68 | -3.66 | -3.74 | -1.98 | -5.51 | -0.00 | -0.00 | -0.00 | -0.00 | -0.00 | -0.00 | -0.00 |
| EPS Growth % | 22.07% | 20.75% | 40.23% | 33.5% | 20% | -73.01% | -31.36% | -0.92% | -12.37% | 27.61% | 26.78% | 2.14% | -88.89% | 64.07% | - | - | - | - | - | - | - | - |
| EPS (Basic) | - | -1.26 | -1.59 | -2.66 | -4.00 | -5.00 | -2.89 | -2.20 | -2.18 | -1.94 | -2.68 | -3.60 | -3.74 | -1.98 | -5.52 | -0.00 | -0.00 | -0.00 | -0.00 | -0.00 | -0.00 | -0.00 |
| Diluted Shares Outstanding | 10.89M | 48.41M | 2.25M | 1.92M | 1.58M | 1.35M | 1.13M | 1.12M | 979.93K | 930.29K | 797.93K | 779.89K | 740.09K | 693.05K | 649.76K | 586.16M | 578.93M | 488.64M | 465.41M | 445.13M | 379.17M | 45M |
| Basic Shares Outstanding | 10.89M | 48.41M | 2.25M | 1.91M | 1.58M | 1.35M | 1.13M | 1.12M | 979.93K | 930K | 797K | 779K | 740K | 693K | 649K | 586.16M | 578.93M | 488.64M | 465.41M | 445.13M | 379.17M | 45M |
| Dividend Payout Ratio | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Limited cash runway
According to recent financial filings, LIXT's quarterly SG&A expenses surged to $1.7 million in 2026Q1, reflecting a significant expansion in operating costs that outpaces the company's historical quarterly average of approximately $0.7 million observed throughout the 2024 and 2025 fiscal periods.
The sharp increase in SG&A suggests that the company is incurring higher administrative burdens, potentially related to the scaling of clinical trial oversight or corporate governance requirements. Investors should monitor whether this cost trajectory is sustainable given the absence of any offsetting revenue streams or commercial milestones.
As reported in the latest income statement, LIXT's operating loss widened to $2.0 million in 2026Q1, indicating that the firm's current operational model lacks the scale necessary to leverage fixed costs against its ongoing research and development activities.
The lack of revenue generation means that every dollar spent on R&D and SG&A directly translates into an operating loss, preventing the realization of any operating leverage. This structure implies that the company remains entirely dependent on external capital to fund its clinical development pipeline.
Based on the provided data, LIXT's stock-based compensation reached $821.3K in 2025Q3, representing a significant non-cash expense that complicates the assessment of true operational burn and contributes to the ongoing dilution of existing shareholders.
The reliance on equity-based incentives appears to be a strategic necessity for talent retention in a cash-constrained environment. However, this practice warrants further investigation as it obscures the underlying cash burn rate and impacts the long-term value per share for investors.
Data from the most recent quarterly reports indicates that LIXT's cash position of $5.1 million is rapidly depleting, which suggests that the company may face a critical liquidity inflection point within the next twelve months if no non-dilutive funding is secured.
Short-term observers might argue that the current burn rate is unsustainable without a significant capital infusion or a successful licensing deal. The reliance on investigator-initiated trials, while cost-effective, may also limit the company's ability to control the timing and quality of data readouts necessary to attract institutional capital.
Quick answers to the most common questions about buying LIXT stock.
For fiscal year 2025, Lixte Biotechnology Holdings, Inc. (LIXT) reported total revenue of $0.0M.
Lixte Biotechnology Holdings, Inc. (LIXT) reported a net loss of $6.0M for the fiscal year ending 2025.