Lexaria Bioscience Corp. Warrant - LEXXW STOCK NEWS

Lexaria Bioscience Corp. (NASDAQ:LEXX) has released partial 12-week body weight results from its animal study WEIGHT-A24-1. The study evaluated various DehydraTECH formulations, including CBD and GLP-1 drugs. Key findings include:

1. DehydraTECH-liraglutide and select DehydraTECH-CBD formulations were the top-performing weight loss groups.

2. All DehydraTECH groups experienced accelerated rates of weight loss during the final 4 weeks of the study.

3. DehydraTECH-liraglutide outperformed DehydraTECH-semaglutide, which is notable given semaglutide's typically higher effectiveness in humans.

4. Lexaria has filed patent applications for the unique performance of liraglutide processed with DehydraTECH.

The company awaits additional data, including blood glucose findings and pharmacokinetic results.

Lexaria Bioscience Corp. (Nasdaq:LEXX; LEXXW) has closed a $5 million registered direct offering priced at-the-market under Nasdaq rules. The offering included the sale of 1,633,987 shares of common stock at $3.06 per share. Additionally, the company issued unregistered warrants to purchase up to 4,551,019 shares at an exercise price of $3.06 per share in a concurrent private placement.

The warrants will be exercisable after stockholder approval and expire five years from that date. H.C. Wainwright & Co. acted as the exclusive placement agent. Lexaria plans to use the net proceeds for working capital and general corporate purposes. The offering was made under a shelf registration statement, and a final prospectus supplement was filed with the SEC.

Lexaria Bioscience Corp. (NASDAQ:LEXX)(NASDAQ:LEXXW) has announced a $5 million registered direct offering priced at-the-market under Nasdaq rules. The company will sell 1,633,987 shares of common stock at $3.06 per share. Additionally, Lexaria will issue unregistered warrants to purchase up to 4,551,019 shares at the same price in a concurrent private placement.

The warrants will be exercisable after stockholder approval and expire five years later. H.C. Wainwright & Co. is the exclusive placement agent. The offering is expected to close around October 16, 2024. Lexaria plans to use the net proceeds for working capital and general corporate purposes. Upon closing, 2,917,032 outstanding warrants issued in April 2024 will be cancelled.

Lexaria Bioscience Corp. (NASDAQ:LEXX) has initiated dosing for its third human pilot study, investigating an oral dose format of DehydraTECH-processed tirzepatide from Zepbound®. The study involves up to 10 healthy volunteers and consists of two seven-day dosing phases with a multi-week washout period in between. The first phase is set to conclude on October 13, 2024, with the second phase to begin in mid-November. No serious adverse events have been reported. The study will evaluate tolerability, blood absorption levels, and blood sugar control. Tirzepatide, marketed under Zepbound® and Mounjaro® by Eli Lilly™, is expected to generate $15 billion in 2024. Lexaria aims to demonstrate significant absorption rates for oral tirzepatide, building on previous studies showing improved absorption and reduced adverse events for DehydraTECH-processed semaglutide.

Lexaria Bioscience Corp. (NASDAQ:LEXX) provides an update on the rapidly growing GLP-1 receptor agonist market. The market has expanded from less than $4 billion in 2020 to a projected $44.5-$49.3 billion in 2024, with analysts forecasting up to $471.1 billion by 2033. Currently, over 95% of the market is dominated by two drugs: semaglutide and tirzepatide. The oral tablet form of these drugs, which currently comprises only 10% of the market, is expected to grow significantly.

Lexaria's DehydraTECH drug delivery system aims to lead in oral GLP-1/GIP drug delivery. Recent studies have shown GLP-1 drugs' potential in reducing cardiovascular risks and improving outcomes for chronic kidney disease patients, suggesting possible expanded therapeutic applications in the future.

Lexaria Bioscience Corp. (NASDAQ:LEXX & LEXXW) has appointed Michael Shankman, CPA, as its new Chief Financial Officer (CFO), effective immediately. Mr. Shankman brings extensive financial and regulatory experience to the role, having previously worked with Lexaria on financial reporting and auditing. From 2021 to 2024, he provided outsourced CFO and Controller services for various public and private companies across multiple industries.

CEO Richard Christopher expressed enthusiasm about the appointment, citing Shankman's accomplishments and the company's expectations for strong growth into 2025. Shankman himself expressed excitement about joining Lexaria, noting the company's potential for advancements and his eagerness to contribute to its pharmaceutical research and development program.

Lexaria Bioscience Corp. (NASDAQ:LEXX)(NASDAQ:LEXXW) has received independent review board approval for human pilot study #3, investigating a DehydraTECH-processed version of tirzepatide in an oral dose format. The study will compare a single injected dose of Zepbound® (tirzepatide) to 7 consecutive days of daily oral dosing of DehydraTECH-processed Zepbound® in up to 10 healthy volunteers.

The study will evaluate tolerability, blood absorption levels, and blood sugar control. Lexaria aims to demonstrate meaningful absorption rates of tirzepatide in a swallowed oral format, which is currently unavailable in the market. The company expects to begin subject recruitment shortly, with first dosing anticipated in late October and final doses in late November.

Additionally, Lexaria's CRO has submitted information for ethics review of the 12-week study GLP-1-H24-4, expected to be a Phase 1b registrational study by the FDA, with first-in-patient dosing anticipated this winter in Australia.

Lexaria Bioscience Corp. (NASDAQ:LEXX) announces a strategic update as CEO Chris Bunka steps down. Key points include:

• New focus on pharmaceutical studies in cardiometabolic and GLP-1 sectors
• Appointment of Richard Christopher as new CEO with pharma/biotech operations experience
• FDA clearance for Phase 1b hypertension study using DehydraTECH-CBD
• Over $8.5 million raised in 2024 through equity raises and warrant exercises
• Market cap growth from $5 million in June 2023 to $60 million
• Ongoing GLP-1 studies with promising results
• Plans for two Phase 1 studies in 2025
• Material Transfer Agreement with a pharmaceutical company

Bunka will continue as Executive Strategic Advisor and Chairman of the Board.

Lexaria Bioscience Corp. (NASDAQ:LEXX) announces a significant leadership change, with Richard Christopher appointed as the new CEO, effective August 31, 2024. Christopher, an industry veteran with over 30 years of experience in medical devices and pharmaceuticals, replaces Chris Bunka, who will remain as Chairman of the Board and Executive Strategic Advisor. The transition aligns with Lexaria's focus on advancing drug delivery in the GLP-1 marketplace and pharmaceutical industry collaborations.

The company's 100-day plan includes executing a Material Transfer Agreement with a pharmaceutical company, ongoing GLP-1 research studies, and preparing for a 2025 FDA-cleared Phase 1b hypertension study. Lexaria's DehydraTECH™ technology, developed since 2015, aims to enhance drug delivery kinetics, with a focus on cardio-metabolic, diabetes, weight loss, and hypertension sectors.