Lexaria Bioscience (NASDAQ: LEXX), a global innovator in drug delivery platforms, just released its fiscal report for the third quarter of the 2024 financial year (“Q3, 2024”). Of note was growth in cash and marketable securities from $1.5 million during the same period in the 2023 financial year to $8.5 million as of May 31, 2024. The company reduced certain R&D expenditures and experienced other savings (https://cnw.fm/OxPux).
Most importantly, however, were the program updates for initiatives it embarked on for 2024. A highlight of its projects has been its glucagon-like peptide-1 (“GLP-1”) agonist research program. GLP-1, a class of drugs, has demonstrated an ability to significantly address diabetes and obesity. What Lexaria’s unique drug delivery platform offers is the added ability to greatly improve the otherwise poor oral bioavailability of GLP-1 drugs, making it possible for simple oral application versus traditional injection, an opportunity of huge implication in the marketplace.
Human pilot study #1, utilizing Novo Nordisk’s(R) semaglutide (Ozempic(R), Rybelsus(R)) was reported on in January 2024, and human pilot study #2, using the same drug, is expected to be reported on in August and September, 2024.
Lexaria has made notable progress, having commenced another research program, the completion of which is set for August. This program will be executed by the National Research Council of Canada (“NRC”). It will seek to evaluate the molecular properties of DehydraTECH-processed pure semaglutide using simulated gastric fluid, which mimics conditions in the human gut.
Lexaria also looks to follow through with its chronic (12-week) dosing human study set to be carried out in Australia. This study, which will involve 70-90 human study subjects with pre-diabetic and Type 2 diabetic conditions, will be run in Australia, and preparations have already begun. It will leverage the use of Rybelsus as a positive control, and then in four additional separate arms, DehydraTECH-processed 1) semaglutide, 2)CBD, 3) tirzepatide, and 4) combo CBD plus semaglutide This larger study will be registered as a Phase 1 level study and carried out into 2025.
Human Pilot Study #3 is also in the pipeline, a study that will enroll up to eight healthy human volunteers, intending to evaluate DehydraTECH’s effectiveness in combination with a dual action GLP-1 agonist and glucose-dependent insulinotropic peptide (“GIP”) drug, Eli Lilly’s(R) well-known tirzepatide. The study will aim for several endpoints, including blood sugar, pharmacokinetics, and tolerability. Already, the company has brought a contract research organization (“CRO”) to run the study and is expecting to begin dosing in September.
Lexaria is bullish about its GLP-1 studies, since revenues for this product class exceeded $31 billion, with the market projected to grow significantly in the coming years. The company continues to make progress toward this extremely high-value target.
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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