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KELOWNA, BC - Lexaria Bioscience Corp. (NASDAQ:LEXX)(NASDAQ:LEXXW), a $24.91 million market cap biotech firm whose shares have gained over 3.7% in the past week, announced Wednesday it has extended its Material Transfer Agreement with an unnamed pharmaceutical company through April 30, 2026.
The extension allows the pharmaceutical partner additional time to review data from Lexaria's ongoing Australian clinical study of its DehydraTECH drug delivery technology. The original agreement was established on September 4, 2024.
According to the company, the extension maintains the temporary exclusive license and enables continued strategic discussions with the pharmaceutical company's clinical development team. This development comes as InvestingPro data shows Lexaria holds more cash than debt on its balance sheet, with a healthy current ratio of 3.9.
Initial pre-clinical animal pharmacokinetic studies under the agreement were completed earlier in 2025. The pharmaceutical partner has requested to review pending safety, pharmacokinetic and efficacy data from Lexaria's independent human clinical study, identified as GLP-1-H24-4.
Lexaria expects to release final results from this Australian study before the end of the fourth quarter of 2025, according to the press release statement. InvestingPro analysis indicates the company is currently trading slightly below its Fair Value, despite posting strong revenue growth of nearly 50% over the last twelve months. Discover 6 more exclusive ProTips and dozens of financial metrics with an InvestingPro subscription.
The company's DehydraTECH platform is designed to improve oral drug delivery and bioavailability. Lexaria reports it holds 54 granted patents related to the technology, with additional patents pending worldwide.
In other recent news, Lexaria Bioscience Corp. announced a $4 million equity financing through a registered direct offering, selling 2,666,667 shares of common stock at $1.50 per share. This financing is expected to fund the company's operations into 2026. Additionally, Lexaria will issue unregistered warrants to purchase up to 2,666,667 shares at an exercise price of $1.37 per share in a concurrent private placement. In a strategic move, Lexaria has engaged a global life science advisory firm to explore further opportunities in the pharmaceutical sector. The company also terminated a $5 million sales agreement with JonesTrading Institutional Services, having generated $38,236 in gross proceeds from selling 14,995 shares. Furthermore, Lexaria's DehydraTECH technology demonstrated enhanced brain delivery of semaglutide in a rodent study, surpassing conventional oral formulations. These developments reflect ongoing efforts to expand Lexaria's capabilities and market presence in the life sciences field.
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