LIXTE to buy battery firm NOMAD, shifts away from cancer drugs; shares rise

NOMAD Power Solutions

12/06/2026 13:42

** Shares of LIXTE Biotechnology Holdings LIXT.O rise 5.8% to $7.67 premarket
** LIXT says it will acquire NOMAD Transportable Power Systems, which makes portable battery units supplying electricity where grid access is limited
** Says NOMAD's systems can deliver up to 1 megawatt of power and be deployed quickly, avoiding delays tied to permanent installations
** Financial terms of the deal not disclosed
** LIXT to rename itself NOMAD Power Solutions after the deal closes, shifting away from cancer drug development
** NOMAD saw 175% revenue growth in 2025 and expects another 135% rise in 2026; NOMAD CEO says deal will aid manufacturing expansion
** The combined company will focus on mobile, utility-scale battery storage systems
** As of last close, LIXT stock up ~84% YTD

 (Reporting by Sahil Pandey in Bengaluru)
 ((Sahil.Pandey@thomsonreuters.com))