This post is presented by our media partner Cannabis News Wire
View the original article here.
- Lexaria just released its mid-year update, highlighting its key milestones so far and its objectives going forward, summarized in a recent Zacks update
- Of note was the company’s most ambitious clinical study yet, HYPER-H21-4, along with its growing patent portfolio that now sees six additional patents awarded across Australia, Japan, the U.S., and Canada so far in 2023
- The company also noted its $2 million capital raise back in May, a strong indicator of shareholders’ confidence in the brand, and its efforts to grow its operations
- Lexaria looks to build on the momentum gathered so far, and its management is optimistic that it will achieve its objectives for the 2023 calendar year
Lexaria Bioscience (NASDAQ: LEXX), a global innovator in drug delivery platforms, just released its mid-year update, marking significant strides both in its research and in creating value for its shareholders. In a report by Zacks Small Cap Research, the company’s critical milestones for the current calendar year were highlighted, from recent publications to awarded patents and capital raised thus far.
Of note was Lexaria’s most ambitious clinical study yet, HYPER-H21-4, a clinical study exploring the potential of the company’s patented DehydraTECH(TM)-processed cannabidiol (“CBD”) for the treatment of hypertension. Enrollments for the study kicked off in April 2022, with dosing beginning ahead of schedule and completed on July 27th (https://cnw.fm/1HQdu). With the success of this study so far, Lexaria is on track to file an Investigational New Drug application with the U.S. Food and Drug Administration, for DehydraTECH-processed CBD later this year, in addition to tapping into the hypertension treatment market that is estimated to hit $39.5 billion in value by 2030 (https://cnw.fm/zNTt1).
Lexaria has also made significant strides in growing its patent portfolio, with its 28th patent worldwide being awarded in late December 2022. Two additional announcements were made in April and June highlighting several global grants, in addition to six patents awarded across Australia, Japan, the United States, and Canada so far in 2023. This goes a long way in strengthening the Lexaria brand, as evidenced by the $2 million capital raise on May 8th.
This capital raise in a public offering saw 2,106,000 units sold at $0.95 per unit, consisting of one share of stock and a warrant with an exercise price of $0.95 per share, offering a five-year term. It showed shareholders’ confidence in the company and its efforts to grow its operations and fulfill its mandate. It was also a show of the company’s growth and future ambitions.
Lexaria also noted significant progress on its nicotine operations, particularly given its receipt of Independent Review Board (“IRB”) approval for its human nicotine study designated NIC-H22-1. Similar progress was made on its Estradiol hormone study, with the recently-concluded animal study HOR-A22-1 demonstrating successful delivery of estradiol and its metabolite estrone using DehydraTECH. These, and more efforts from Lexaria, were recognized in research circles, with eight research paper publications playing a massive role in it.
In a June 22nd press release, Lexaria acknowledged its most recent publication in the International Journal of Molecular Sciences, titled Differences in Plasma Cannabidiol Concentrations in Women and Men: A Randomized, Placebo-Controlled, Crossover Study. The publication noted that CBD concentrations were higher in women than men and correlated with the proportion of adipose tissue. The difference in sexes, it noted, was attributed to higher levels of fat tissue in women than men.
Lexaria looks to build on its momentum so far and achieve its objectives for the 2023 calendar year. Its management is optimistic that these goals, and more, will be achieved in the year and that the company will continue to create value for its shareholders while at it.
For more information, visit the company’s website at www.LexariaBioscience.com.
NOTE TO INVESTORS: The latest news and updates relating to LEXX are available in the company’s newsroom at https://cnw.fm/LEXX
About CannabisNewsWire
CannabisNewsWire (CNW) is an information service that provides (1) access to our news aggregation and syndication servers, (2) CannabisNewsBreaks that summarize corporate news and information, (3) enhanced press release services, (4) social media distribution and optimization services, and (5) a full array of corporate communication solutions. As a multifaceted financial news and content distribution company with an extensive team of contributing journalists and writers, CNW is uniquely positioned to best serve private and public companies that desire to reach a wide audience of investors, consumers, journalists and the general public. CNW has an ever-growing distribution network of more than 5,000 key syndication outlets across the country. By cutting through the overload of information in today’s market, CNW brings its clients unparalleled visibility, recognition and brand awareness. CNW is where news, content and information converge.
To receive instant SMS alerts, text CANNABIS to 21000 (U.S. Mobile Phones Only)
For more information please visit https://www.cannabisnewswire.com
Please see full terms of use and disclaimers on the CannabisNewsWire website applicable to all content provided by CNW, wherever published or re-published: http://CNW.fm/Disclaimer
Do you have questions or are you interested in working with CNW? Ask our Editor
CannabisNewsWire (CNW)
Denver, Colorado
www.cannabisnewswire.com
303.498.7722 Office
Editor@CannabisNewsWire.com
CannabisNewsWire is part of the InvestorBrandNetwork.
This post was originally published by our media partner here.
