Lixte Biotechnology Shares Down on Plans for Nomad Transportable Power Deal, Name Change

Dow Jones06-13

By Josh Beckerman

Shares of Lixte Biotechnology Holdings declined after it announced plans to buy battery energy company Nomad Transportable Power Systems and change Lixte's name to Nomad Power Solutions.

The stock was down 12% to $6.41 in Friday afternoon trading. Shares are up 63% this year.

Cancer-drug developer Lixte said June 1 that it would transform into an AI energy infrastructure equipment and services business, and seek a strategic acquisition partner for its pharmaceutical and medical technology operations.

Lixte didn't disclose a deal price for Nomad. The company said Nomad's revenue rose about 175% in 2025. Lixte said Nomad's mobile utility-grade battery energy storage systems have a structural permitting and deployment advantage, offering an alternative to permanent BESS projects that "routinely face development timelines of two to five years or longer."

Write to Josh Beckerman at josh.beckerman@wsj.com

(END) Dow Jones Newswires

June 12, 2026 13:48 ET (17:48 GMT)

Copyright (c) 2026 Dow Jones & Company, Inc.

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