A few weeks ago, we highlighted Lexaria Biotechnology (Nasdaq: LEXX) as a biotech firm that is flying under the radar. The company is led by a management team that is focused on creating value for shareholders and we are favorable on the direction the business is heading.
From strengthening the balance sheet to evaluating DehydraTECH™ for additional indications, we are bullish on how the story has been advancing and believe our readers need to be aware of the recent developments.
During the last quarter, Lexaria reported a series of positive developments and we expect this trend to continue for the rest of 2023 and into 2024. We believe the business has been flying under the radar and want to highlight some of its recent milestones:
- September 29th – The biotech firm entered into a securities purchase agreement with a single healthcare-focused institutional investor to purchase $1.6 million worth of securities in a direct offering
- September 21st – Lexaria announced plans to launch new human and animal studies to examine DehydraTECH™-processed glucagon-like peptide-1 (GLP-1) drugs such as, but not limited to, semaglutide sold under Novo Nordisk’s brand names Ozempic®, Wegovy® and Rybelsus®, for purposes of improved bioavailability, cost-effectiveness, tolerability, weight loss potential, management of diabetes and other health conditions.
- August 30th – Lexaria issued an update on the status of its anticipated submission of an Investigational New Drug (IND) application with the FDA for its planned Phase 1b hypertension clinical trial
- August 9th – Lexaria announced the results from its 2023 human oral nicotine study which compared its DehydraTECH™-Nicotine tobacco-free pouch to world-leading brands ZYN® and on!®
- July 28th – Lexaria reported to have incorporated a new wholly-owned subsidiary under the name Lexaria Nutraceutical Corp. The subsidiary falls in line with the company’s strategy of maximizing the potential for its patented DehydraTECH Technology in various markets.
A Stock With Catalysts For Growth
Lexaria is a biotech company that has been advancing pre-clinical and clinical trials and has a very strong intellectual property (IP) portfolio. The biotech company operates a licensed in-house research laboratory and has been issued more than 30 patents granted with about 50 patents pending worldwide.
During the last month, Lexaria has been trending higher and we believe the stock is approaching an inflection point. From advancing clinical trials to strengthening its IP portfolio, Lexaria has been nothing short of an execution story. We are favorable on how the management team has been executing and find the valuation to be attractive at current levels.
If you are interested in learning more about Lexaria Bioscience, please send an email to support@onthebids.com with the subject “Lexaria Bioscience” to be added to our distribution list.
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Pursuant to an agreement between Spotlight Media and Lexaria Bioscience we have been hired for a period of 30 days beginning October 10, 2023 and ending November 10, 2023 to publicly disseminate information about Lexaria Bioscience including on the Website and other media including Facebook and Twitter. We are being paid $1,000 per month by Lexaria Bioscience and were paid “ZERO” shares of unrestricted or restricted common shares. We plan to sell the “ZERO” shares of Lexaria Bioscience that we hold during the time the Website and/or Facebook and Twitter Information recommends that investors or visitors to the website purchase without further notice to you. We may buy or sell additional shares of Lexaria Bioscience in the open market at any time, including before, during or after the Website and Information, provide public dissemination of favorable Information.
This article contains forward-looking statements within the meaning of applicable securities laws. All statements that are not historical facts, including without limitation, statements regarding future estimates, plans, programs, forecasts, projections, objectives, assumptions, expectations or beliefs regarding future performance are “forward-looking statements”. Forward-looking statements can be identified by the use of words such as “expects”, “does not expect”, “is expected”, “believes”, “intends”, “anticipates”, “does not anticipate”, “believes” or variations of these words, expressions or statements, that certain actions, events or results “may”, “could”, “would”, “might” or “will be” taken, will occur or will be realized. Such forward-looking statements involve risks, uncertainties and other known and unknown factors that could cause actual results, events or developments to differ materially from the results, events or developments expected and expressed or implied in such forward-looking statements. These risks and uncertainties include, but are not limited to, dependence on obtaining and maintaining regulatory approvals, including the acquisition and renewal of federal, provincial, state, municipal, local or other licenses, and any inability to obtain all necessary government authorizations, licenses and permits to operate and expand the Company’s facilities; regulatory or policy changes such as changes in applicable laws and regulations, including federal, state and provincial legalization, due to fluctuations in public opinion, industry perception of integrative mental health, including the use of psychedelic-assisted therapy, delays or inefficiencies or any other reason; any other factor or development likely to hamper the growth of the market; the Company’s limited operating and profitability track record; dependence on management; the Company’s need for additional financing and the effects of financial market conditions and other factors on the availability of capital; competition, including that of more established and better funded competitors; the impact of the Russia-Ukraine conflict on the global economy; the continued impact of the COVID-19 pandemic; and the need to build and maintain alliances and partnerships, including with research and development companies, customers and suppliers. These factors should be carefully considered, and readers are cautioned not to place undue reliance on forward-looking statements. Despite the Company’s efforts to identify the main risk factors that could cause actual measures, events or results to differ materially from those described in forward-looking statements, other risk factors may cause measures, events or developments to materially differ from those anticipated, estimated or intended. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in forward-looking statements. The Company does not undertake to revise forward-looking statements, even if new information becomes available as a result of future events, new facts or any other reason, except as required by applicable laws
