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KELOWNA, BC - Lexaria Bioscience Corp. (NASDAQ:LEXX)(NASDAQ:LEXXW), a drug delivery platform innovator with a market capitalization of $29.84 million, has announced the issuance of two new patents by the United States Patent and Trademark Office. Trading at $1.70 per share, near its 52-week low, InvestingPro analysis suggests the stock is currently fairly valued. These patents pertain to the company’s DehydraTECH™ technology, specifically its application in treating epilepsy.
CEO Rich Christopher expressed the company’s enthusiasm for the broadened claims, which he believes will enhance Lexaria’s commercial viability and offer increased value to pharmaceutical partners and patients. While the company has shown impressive revenue growth of 77.63% over the last twelve months, InvestingPro data reveals it is quickly burning through cash. The addition of these patents brings Lexaria’s total to 48 granted patents, with more pending worldwide.
The newly granted patents, which are part of Lexaria’s patent family #24 titled "Compositions and Methods for Treating Epilepsy," are set to expire in 2043. They build upon previous research that showed DehydraTECH-CBD could mitigate epileptic seizures in rodents more effectively than the commercially available cannabinoid-based anti-seizure medication, Epidiolex®.
DehydraTECH™ is Lexaria’s proprietary formulation and processing technology designed to enhance the delivery of active pharmaceutical ingredients into the bloodstream when administered orally. The technology has shown promise in increasing bio-absorption and delivering drugs more effectively across the blood-brain barrier.
Lexaria operates a licensed in-house research laboratory and has been actively developing and investigating DehydraTECH with various beneficial molecules. Despite the optimistic outlook presented in the press release, the company cautions that forward-looking statements involve risks and uncertainties. Factors such as government regulation, regulatory approvals, litigation, competition, and the patent approval process could affect the actual results and the realization of the company’s plans.
The company’s announcements are based on current information and expectations disclosed in the press release. Lexaria emphasizes that no assurance can be given that their plans or expectations will be achieved as projected. With analyst price targets ranging from $7 to $12 and the next earnings report due on April 15, 2025, investors seeking deeper insights can access additional financial metrics and 8 more exclusive ProTips through InvestingPro. This news is based on a press release statement and readers are reminded that the information should not be relied upon as an indication of future performance.
In other recent news, Lexaria Bioscience Corp. has made significant strides in its drug delivery research, as demonstrated by promising study results. The company raised $13.4 million in equity and warrant exercises to fund operations and further its 2025 development plans. Lexaria also initiated a Phase 1b registrational study in Australia and received FDA clearance for a Phase 1b hypertension study utilizing DehydraTECH-CBD.
The company’s studies in 2024 showcased the potential of its DehydraTECH technology in enhancing the absorption of GLP-1 drugs, used in the treatment of diabetes and obesity. Notably, Human Pilot Study #2 indicated an 18.8% higher semaglutide level in the bloodstream and a 60% reduction in adverse events when using DehydraTECH-processed semaglutide.
In the realm of analyst notes, H.C. Wainwright adjusted its price target for Lexaria Bioscience to $7.00, while maintaining a Buy rating on the company’s shares. This followed Lexaria’s announcement of positive partial final results from its human pilot study #3, which tested an oral version of DehydraTECH-processed tirzepatide. The firm’s analyst considered these preliminary results highly encouraging and indicative of a promising outlook for the final data readout.
In other company news, Lexaria Bioscience Corp. announced changes in its executive management structure and the results of its annual and special shareholder meeting. The company entered into a new Executive Management Agreement with John Docherty, who will continue to serve as President and has been appointed as Chief Scientific Officer. At the shareholder meeting, the company’s shareholders re-elected seven directors and appointed Malone Bailey LLP as the company’s auditors.
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