Lexaria Bioscience (NASDAQ: LEXX), a global innovator in drug delivery platforms, in this past year, has demonstrated growing success in providing healthier delivery methods of drugs and other Active Pharmaceutical Ingredients (“APIs”), facilitated by its patented DehydraTECH(TM) technology. This has been driven by the company’s research efforts throughout 2023 and ambitious plans for 2024.
“This is a remarkable achievement that speaks to the capabilities of the DehydraTECH technology and also to the Lexaria R&D team, working ardently with scarce resources relative to global multi-billion-dollar behemoths,” noted Chris Bunka, Lexaria’s CEO (https://cnw.fm/OD1xJ).
So far in the 2023 calendar year, Lexaria has realized interim results from its human pilot study evaluating DehydraTECH for the oral delivery of glucagon-like peptide-1 (“GLP-1”) drug, semaglutide. It also held a successful pre-Investigational New Drug (“IND”) meeting with the U.S. Food and Drug Administration (“FDA”) that would set the stage for its application in 2024 and the ultimate approval of its DehydraTECH-processed CBD. Lexaria also grew its patent portfolio to 37, with many other patents pending worldwide (https://cnw.fm/LY30U).
Entering 2024, the company plans to maintain the same momentum. Within the first quarter of the 2024 calendar year, it plans to file its Phase 1(b) Investigational New Drug (“IND”) application with the FDA for DehydraTECH-processed CBD as a prospective registered treatment for hypertension. It also plans to commence patient dosing for this study and conduct animal and human clinical studies to examine DehydraTECH-processed GLP-1 drugs used in products alone or with DehydraTECH-CBD.
Lexaria also plans to double down on licensing its technology, particularly since it promises a substantial commercial opportunity. Its exclusive global collaboration and license agreement with SulfoSyn Limited, for instance, will allow the company to generate revenue from its DehydraTECH technology while also further demonstrating its versatility and overall effectiveness in applications across the board (https://cnw.fm/1T7WG). So far, the technology has proven applicable in cannabinoids, oral nicotine, diabetes and weight loss, PDE5 inhibitors, and antiviral drugs, among others.
With the steps taken so far, Lexaria is projected to post a 259% year-over-year (“YOY”) revenue growth for 2024 and a 20% YOY growth for 2025, according to a Zacks SCR report (https://cnw.fm/Z0LWX). This growth progression will largely depend on the ultimate approval and commercialization of products utilizing DehydraTECH, which is currently on track.
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
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