KELOWNA, BRITISH COLUMBIA - Lexaria Bioscience Corp. (NASDAQ:LEXX), a pioneer in drug delivery platforms, announced the initiation of a first-of-its-kind study to track the biodistribution of DehydraTECH-enabled semaglutide molecules in rodents. The study aims to understand how the company's patented DehydraTECH technology affects the distribution of semaglutide, a drug commonly used in diabetes treatment, after oral ingestion.
The research, performed by a contracted third-party organization, will employ fluorescently tagged DehydraTECH-semaglutide (FTS) to monitor the compound's path through the body. This tracking will provide insights into the drug's interaction with targeted cells and its ability to avoid adverse side effects. Two formulations will be compared: one mimicking the current Rybelsus® oral product and another integrating DehydraTECH technology.
The study will also utilize immunofluorescence to assess GLP-1 receptor binding in tissue samples from the test subjects. The outcome of this research is expected to enhance Lexaria's discussions with potential industry partners. The completion and final reporting of the study are anticipated in May 2025.
DehydraTECH is Lexaria's proprietary technology designed to improve the delivery of active pharmaceutical ingredients (APIs) into the bloodstream orally. Since its inception in 2016, the technology has shown promise in increasing bio-absorption and delivering drugs more effectively across the blood-brain barrier. Lexaria maintains a portfolio of 46 granted patents and numerous pending worldwide.
This news is based on a press release statement and does not constitute an endorsement of Lexaria's claims. The company's forward-looking statements involve risks and uncertainties, and actual results may differ materially. Lexaria cautions readers not to place undue reliance on these statements, which reflect current information and judgments. Further details on the company and its technology can be found on its official website.
In other recent news, Lexaria Bioscience Corp. reported notable results from its WEIGHT-A24-1 animal study, showing significant blood sugar level reductions in groups treated with DehydraTECH-liraglutide and certain DehydraTECH-CBD formulations. The company also highlighted a substantial growth in the glucagon-like peptide-1 (GLP-1) receptor agonist market, with revenues reaching $11.04 billion in the second quarter of 2024. In leadership updates, Lexaria Bioscience welcomed Richard Christopher as CEO and Michael Shankman as CFO.
The company has also initiated a human pilot study to evaluate an oral form of the diabetes treatment tirzepatide, processed with its proprietary DehydraTECH technology. In relation to its corporate activities, Lexaria Bioscience announced a combined Annual and Special Meeting of Shareholders scheduled for January 14, 2025, following a recent private placement of share purchase warrants.
Lexaria Bioscience has entered a Material Transfer Agreement with PharmaCO for pre-clinical trials of DehydraTECH. Preliminary studies suggest a trend toward higher absorption of DehydraTECH-processed Rybelsus, indicating potential benefits in diabetes management and weight loss efficacy. In light of these developments, H.C. Wainwright analysts have maintained their Buy rating for Lexaria Bioscience. These are the recent developments in the company's operations.
InvestingPro Insights
As Lexaria Bioscience Corp. (NASDAQ:LEXX) embarks on this groundbreaking study of DehydraTECH-enabled semaglutide, investors may find additional context from recent financial data and analyst perspectives. According to InvestingPro, LEXX has shown a remarkable revenue growth of 34.05% over the last twelve months as of Q3 2023, which aligns with the company's innovative pursuits in drug delivery technology.
An InvestingPro Tip highlights that analysts anticipate sales growth for LEXX in the current year, potentially reflecting optimism about the company's research initiatives, including the newly announced semaglutide study. This expectation of growth could be crucial for a company that, as another InvestingPro Tip notes, has not been profitable over the last twelve months.
Despite the lack of profitability, LEXX's financial position shows some strength. The company holds more cash than debt on its balance sheet, which could provide the financial flexibility needed to fund ongoing research and development efforts like the semaglutide study.
It's worth noting that LEXX has experienced a high return over the last year, with a 73.85% price total return. This performance suggests that investors may be recognizing the potential of Lexaria's DehydraTECH technology and its applications in the pharmaceutical industry.
For those interested in a deeper dive into LEXX's financials and prospects, InvestingPro offers 8 additional tips, providing a more comprehensive analysis of the company's position in the market.
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