Lexaria Preparing For Strategic Growth

Rhea-AI Summary

Lexaria Bioscience Corp. (NASDAQ:LEXX) has announced plans for strategic growth. The company is expanding its management team, starting with the appointment of Nelson Cabatuan as consulting Chief Strategic Financial Advisor. Cabatuan is resigning from his role as CFO to focus on strategic opportunities. A new CFO will be announced soon.

Lexaria is also exploring additional R&D projects related to GLP-1 molecules beyond those previously disclosed. The company is considering concrete steps to launch its FDA-cleared Phase 1b hypertension study, subject to funding. CEO Chris Bunka expressed increased confidence in the company's medium and long-term strategies due to ongoing success and anticipated future achievements.

Positive

• Appointment of Nelson Cabatuan as Chief Strategic Financial Advisor to focus on corporate finance and strategic opportunities
• Exploration of additional R&D projects related to GLP-1 molecules
• FDA clearance received for Phase 1b hypertension study
• Management team expansion planned to handle increased workload

Negative

• Phase 1b hypertension study launch dependent on securing funding

Strategic growth plan execution underway.

KELOWNA, BC / ACCESSWIRE / July 16, 2024 / Lexaria Bioscience Corp. (NASDAQ:LEXX)(NASDAQ:LEXXW) (the "Company" or "Lexaria"), a global innovator in drug delivery platforms announces plans for strategic growth.

"Lexaria has certain initiatives underway that are increasing confidence in our medium-term and longer-term strategies," said Chris Bunka, Chief Executive Officer of Lexaria Bioscience Corp. "As a result of the success we are experiencing and the continued success we are anticipating, we will be implementing a number of strategic steps in the weeks and months to come."

Lexaria will be expanding its management team this summer as it prepares for the greater workload of multiple projects and initiatives. The first step is appointing Nelson Cabatuan as our consulting Chief Strategic Financial Advisor, in order to maximize his skills in the fields of corporate finance and strategic industry relationships and opportunities. Nelson is resigning from his current role as Chief Financial Officer (CFO) in order to better focus on the strategic opportunities afforded to the Company outside of typical accounting tasks. Our new CFO will be appointed and announced in due course.

The Company is also in the conceptual design stages of additional R&D projects related to additional GLP-1 molecules of interest, beyond those previously disclosed. Announcements about additional R&D studies may be made over the next several months. Finally, Lexaria is closely examining its Phase 1b hypertension study, that has already received clearance to proceed from the FDA, for more concrete steps to launch that study, subject to funding, as soon as possible.

About Lexaria Bioscience Corp. & DehydraTECH

DehydraTECH™ is Lexaria's patented drug delivery formulation and processing platform technology which improves the way active pharmaceutical ingredients (APIs) enter the bloodstream through oral delivery. Since 2016, Lexaria has developed and investigated DehydraTECH with a variety of beneficial molecules in oral and topical formats. DehydraTECH has repeatedly demonstrated the ability to increase bio-absorption and has also evidenced an ability to deliver some drugs more effectively across the blood brain barrier, which Lexaria believes to be of particular importance for centrally active compounds. Lexaria operates a licensed in-house research laboratory and holds a robust intellectual property portfolio with 46 patents granted and many patents pending worldwide. For more information, please visit www.lexariabioscience.com.

CAUTION REGARDING FORWARD-LOOKING STATEMENTS

This press release includes forward-looking statements. Statements as such term is defined under applicable securities laws. These statements may be identified by words such as "anticipate," "if," "believe," "plan," "estimate," "expect," "intend," "may," "could," "should," "will," and other similar expressions. Such forward-looking statements in this press release include, but are not limited to, statements by the company relating the Company's ability to carry out research initiatives, receive regulatory approvals or grants or experience positive effects or results from any research or study. Such forward-looking statements are estimates reflecting the Company's best judgment based upon current information and involve a number of risks and uncertainties, and there can be no assurance that the Company will actually achieve the plans, intentions, or expectations disclosed in these forward-looking statements. As such, you should not place undue reliance on these forward-looking statements. Factors which could cause actual results to differ materially from those estimated by the Company include, but are not limited to, government regulation and regulatory approvals, managing and maintaining growth, the effect of adverse publicity, litigation, competition, scientific discovery, the patent application and approval process, potential adverse effects arising from the testing or use of products utilizing the DehydraTECH technology, the Company's ability to maintain existing collaborations and realize the benefits thereof, delays or cancellations of planned R&D that could occur related to pandemics or for other reasons, and other factors which may be identified from time to time in the Company's public announcements and periodic filings with the US Securities and Exchange Commission on EDGAR. The Company provides links to third-party websites only as a courtesy to readers and disclaims any responsibility for the thoroughness, accuracy or timeliness of information at third-party websites. There is no assurance that any of Lexaria's postulated uses, benefits, or advantages for the patented and patent-pending technology will in fact be realized in any manner or in any part. No statement herein has been evaluated by the Food and Drug Administration (FDA). Lexaria-associated products are not intended to diagnose, treat, cure or prevent any disease. Any forward-looking statements contained in this release speak only as of the date hereof, and the Company expressly disclaims any obligation to update any forward-looking statements or links to third-party websites contained herein, whether as a result of any new information, future events, changed circumstances or otherwise, except as otherwise required by law.

INVESTOR CONTACT:

George Jurcic - Head of Investor Relations
ir@lexariabioscience.com
Phone: 250-765-6424, ext 202

SOURCE: Lexaria Bioscience Corp.

View the original press release on accesswire.com

FAQ

What strategic changes is Lexaria Bioscience Corp (NASDAQ:LEXX) implementing?

Lexaria is expanding its management team, appointing Nelson Cabatuan as Chief Strategic Financial Advisor, exploring additional R&D projects related to GLP-1 molecules, and considering steps to launch its FDA-cleared Phase 1b hypertension study, subject to funding.

Why is Nelson Cabatuan resigning as CFO of Lexaria Bioscience Corp (NASDAQ:LEXX)?

Nelson Cabatuan is resigning as CFO to take on the role of consulting Chief Strategic Financial Advisor, focusing on corporate finance and strategic industry relationships and opportunities.

What is the status of Lexaria Bioscience Corp's (NASDAQ:LEXX) Phase 1b hypertension study?

The Phase 1b hypertension study has received FDA clearance to proceed. Lexaria is examining concrete steps to launch the study as soon as possible, subject to securing funding.

What new R&D projects is Lexaria Bioscience Corp (NASDAQ:LEXX) considering?

Lexaria is in the conceptual design stages of additional R&D projects related to GLP-1 molecules of interest, beyond those previously disclosed. Announcements about these studies may be made over the next several months.