SoFi CEO enters prepaid forward contract on 1.5 million shares
KELOWNA, BC - Lexaria Bioscience Corp. (NASDAQ:LEXX)(NASDAQ:LEXXW), known for its drug delivery platform DehydraTECH™, has arranged a registered direct offering with an institutional investor for the sale of 2 million common shares priced at $1 each. This transaction is set to close around April 28, 2025, subject to standard closing conditions.
H.C. Wainwright & Co. is the exclusive placement agent for this offering, which is expected to generate gross proceeds of $2 million. After accounting for placement agent fees and other expenses, the net proceeds will be directed towards working capital and general corporate purposes.
The offering is being made under a shelf registration statement, previously declared effective by the SEC on January 30, 2025. The shares are available through a prospectus and an accompanying prospectus supplement filed with the SEC. Interested parties can access these documents on the SEC’s website or directly from H.C. Wainwright & Co.
Lexaria’s proprietary technology, DehydraTECH, is designed to enhance the delivery and effectiveness of drugs through oral ingestion. The company maintains a significant intellectual property portfolio with 48 granted patents and additional patents pending globally.
This press release contains forward-looking statements regarding the completion of the offering and the intended use of the proceeds. These statements are based on the company’s current expectations and involve risks and uncertainties, which may cause actual results to differ. Analyst consensus from InvestingPro shows price targets ranging from $6 to $8, with additional insights and metrics available to subscribers.
The information in this article is based on a press release statement from Lexaria Bioscience Corp. and does not constitute an offer to sell or a solicitation of an offer to buy any securities. The sale of these securities will not be conducted in any jurisdiction where such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of such jurisdiction.
In other recent news, Lexaria Bioscience Corp. has made significant progress in its clinical studies and technology development. The company completed patient enrollment for its Phase 1b study, GLP-1-H24-4, in Australia, which aims to evaluate the safety and efficacy of DehydraTECH technology in oral diabetes medications. Lexaria also initiated a human clinical study, GLP-1-H25-5, to compare its oral DehydraTECH-liraglutide with the injected form, Saxenda®, following promising results from a previous rodent trial. In another study, Lexaria reported that its DehydraTECH-tirzepatide oral capsules matched the efficacy of the injectable Zepbound® for weight loss, with a notable reduction in side effects.
Additionally, Lexaria secured two new patents related to its DehydraTECH technology for epilepsy treatment, expanding its intellectual property portfolio to 48 patents. The company’s recent studies have shown DehydraTECH’s potential to enhance drug absorption and reduce adverse effects, particularly in GLP-1 drugs used for diabetes and obesity treatment. Lexaria raised $13.4 million through equity and warrant exercises to support its ongoing research and development activities. The company continues to explore the applications of its technology, with further studies planned for 2025, including a focus on GLP-1 research and a Material Transfer Agreement with an unnamed pharmaceutical company. These developments reflect Lexaria’s commitment to advancing its drug delivery platforms and attracting pharmaceutical partners.
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