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KELOWNA, BC - Lexaria Bioscience Corp. (NASDAQ:LEXX), a pharmaceutical technology company with a market capitalization of $17.8 million whose shares have declined nearly 70% over the past year, has engaged a global life science business development advisory firm to help identify and pursue additional collaborative opportunities in the pharmaceutical sector, the company announced Thursday based on a press release statement.
The drug delivery platform developer said the expansion of its business development activities follows its recent $4 million equity financing, which provides funding for operations into 2026. According to InvestingPro data, while the company holds more cash than debt and maintains strong liquidity with a current ratio of 3.9, it is rapidly burning through its cash reserves. Prior to this financing, the company’s existing operations were funded through the end of 2025.
Lexaria has been validating its DehydraTECH technology across multiple pharmaceutical applications, including treatments for diabetes control, weight loss, hypertension, seizure disorders, anti-viral applications and hormone replacement.
The company also announced it has been awarded four new patents, expanding its intellectual property portfolio to 54 granted patents. The new patents cover compositions and methods for treating epilepsy, diabetes, enhanced delivery of antiviral agents, and food and beverage compositions infused with lipophilic active agents.
Lexaria expects to receive final results from its Phase 1b Australian study in the GLP-1 sector, which is examining patient safety and efficacy with DehydraTECH processing of certain GLP-1 and complementary drugs.
The company’s DehydraTECH drug delivery platform is designed to improve the way drugs enter the bloodstream through oral delivery, with evidence suggesting it can increase bio-absorption, reduce side effects, and deliver some drugs more effectively across the blood brain barrier.
Details of the parties involved in the new business development initiatives remain confidential due to the strategic nature of licensing and partnering discussions. InvestingPro analysis indicates the company is currently trading below its Fair Value, with additional metrics and insights available to subscribers, including 7 more ProTips and comprehensive financial health scores.
In other recent news, Lexaria Bioscience Corp. announced a $4 million registered direct offering, selling 2,666,667 shares of common stock at $1.50 per share. Concurrently, the company issued unregistered warrants to purchase an additional 2,666,667 shares, exercisable at $1.37 per share. Lexaria also terminated its $5 million sales agreement with JonesTrading Institutional Services LLC, which generated gross proceeds of $38,236 through the sale of 14,995 shares. In scientific developments, Lexaria reported that its DehydraTECH technology enhanced brain delivery of semaglutide in a rodent study, showing improved biodistribution compared to conventional formulations. The company’s Phase 1b GLP-1 study in Australia has completed patient dosing, with final results expected in the fourth quarter. These recent developments highlight Lexaria’s ongoing activities in financing, research, and clinical trials.
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