KELOWNA, BC - Lexaria Bioscience Corp. (NASDAQ:LEXX)(NASDAQ:LEXXW), a $36.3 million market cap biotech company known for its drug delivery platform technology DehydraTECH™, has announced the establishment of a Scientific Advisory Board (SAB) to guide its strategic development within the pharmaceutical industry. Despite a recent 11% decline in share price over the past week, the stock has shown remarkable resilience with a 66% gain year-to-date. According to InvestingPro data, analysts have set price targets ranging from $8 to $12, suggesting significant upside potential. The SAB, chaired by Lexaria's President and Chief Scientific Officer John Docherty, consists of four experts with diverse backgrounds in pharmacology, regulatory strategy, and cardiovascular research.
John Docherty, who joined Lexaria in 2015, has over 30 years of experience in the pharmaceutical and biopharmaceutical sectors, contributing significantly to the company's scientific and intellectual property development.
Dr. Michael Gibson, Lexaria's new Chief Medical (TASE:PMCN) Advisor, brings his expertise as an interventional cardiologist and researcher, along with his leadership roles at Harvard Medical School-affiliated research institutes. His extensive experience in clinical trials and cardiovascular research is poised to benefit Lexaria's advancements.
Dr. Karen Aust, with a Ph.D. in Molecular Pharmacology from Stanford University, has substantial experience in regulatory affairs, particularly in US regulatory 505(b)(2) development programs. Her expertise is expected to be invaluable to Lexaria's efforts to streamline the development of DehydraTECH-enabled drugs.
Prof. Philip Ainslie, known for his research on vascular function, contributes his knowledge on cerebrovascular function and its potential interaction with DehydraTECH. His research has implications for drug delivery across the blood-brain barrier, which is of particular interest to Lexaria.
The SAB is set to meet regularly to provide recommendations to Lexaria's management team and board of directors, aiming to enhance the commercialization of its patented DehydraTECH technology. The company maintains a strong financial position with more cash than debt and a healthy current ratio of 7.18, indicating robust liquidity to support its development initiatives. InvestingPro subscribers can access additional insights about Lexaria's financial health metrics and growth potential. This technology is designed to improve the delivery of active pharmaceutical ingredients (APIs) into the bloodstream and has shown promise in increasing bio-absorption and crossing the blood-brain barrier.
Lexaria's DehydraTECH has been under development since 2016 and has been applied in oral and topical formats with various molecules. The company holds a significant intellectual property portfolio, including 46 granted patents and numerous pending worldwide. While the company posted impressive revenue growth of 105% in the last twelve months, InvestingPro analysis reveals several additional key metrics and insights available to subscribers, including detailed financial health scores and growth projections.
This article is based on a press release statement from Lexaria Bioscience Corp. and does not include any forward-looking statements from the company.
In other recent news, Lexaria Bioscience has reported fiscal year 2024 financial results, with revenues of $0.5 million and a net loss of $5.8 million. The company also closed a registered direct offering, issuing 1.6 million shares of common stock, bolstering its pro forma cash position to approximately $11.2 million. H.C. Wainwright analysts have maintained a Buy rating for the company. Lexaria has also made strides in its research and development efforts, including positive results from its WEIGHT-A24-1 diabetes animal study and a new study tracking the biodistribution of DehydraTECH-enabled semaglutide molecules in rodents. In corporate developments, the company has announced a combined Annual and Special Meeting of Shareholders and entered a Material Transfer Agreement with PharmaCO for pre-clinical trials of DehydraTECH. These are the recent developments in the company's operations.
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