KELOWNA, BC - Lexaria Bioscience Corp. (NASDAQ:LEXX)(NASDAQ:LEXXW), a leader in drug delivery platforms, has announced partial 12-week results from its WEIGHT-A24-1 animal study, highlighting notable blood sugar level reductions in groups treated with DehydraTECH-liraglutide and certain DehydraTECH-CBD formulations.
The study, which utilized diabetic Zucker rats, compared the performance of various DehydraTECH-CBD compositions and reformulated Rybelsus DehydraTECH compositions with pure GLP-1 drugs semaglutide and liraglutide. Results indicated that DehydraTECH-liraglutide and DehydraTECH-CBD group B outperformed all three Rybelsus and pure semaglutide DehydraTECH groups, with group H (DehydraTECH-liraglutide) showing a significant 11.54% reduction in blood sugar levels by day 84.
This groundbreaking study is the first to evaluate liraglutide processed with DehydraTECH, a patented drug delivery technology by Lexaria that has historically enhanced the bio-absorption of orally administered drugs. The processed liraglutide was administered orally in the study, despite its typical injectable application under brand names Saxenda or Victoza, suggesting a potential for commercial viability in oral form.
Further data from the study, including body weight and blood glucose findings from the second cohort, as well as brain and blood absorption pharmacokinetics, are pending. Lexaria is addressing delays at third-party laboratories to expedite the completion of these analyses.
The study's comprehensive approach included over 1,500 blood plasma samples for detailed pharmacokinetic analysis and will incorporate a range of health indicators such as liver and kidney function and blood chemistry.
The results are based on a press release statement from Lexaria Bioscience Corp., and while they are promising, statistical significance is not expected due to the small animal population in each study arm. Instead, the company has provided commentary on apparent trends and will continue to report on upcoming data as it becomes available.
In other recent news, Lexaria Bioscience Corp. reported significant growth in the glucagon-like peptide-1 (GLP-1) receptor agonist market, with revenues reaching $11.04 billion in the second quarter of 2024. The company also announced a combined Annual and Special Meeting of Shareholders scheduled for January 14, 2025, following a recent private placement of share purchase warrants. In leadership updates, Lexaria Bioscience welcomed Richard Christopher as CEO and Michael Shankman as CFO.
The company has initiated a human pilot study to evaluate an oral form of the diabetes treatment tirzepatide, processed with its proprietary DehydraTECH technology. The study aims to assess the drug's blood absorption levels and blood sugar control. Lexaria Bioscience also 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 recent developments in the company's operations.
InvestingPro Insights
Lexaria Bioscience Corp.'s (NASDAQ:LEXX) recent announcement of promising results from its WEIGHT-A24-1 animal study aligns with several key financial indicators and analyst expectations. According to InvestingPro data, the company's revenue growth stands at 34.05% for the last twelve months as of Q3 2024, with analysts anticipating further sales growth in the current year. This positive outlook on revenue expansion could be fueled by the potential commercial viability of Lexaria's DehydraTECH technology, particularly if the oral administration of liraglutide proves successful in human trials.
Despite the company's innovative research, InvestingPro Tips reveal that Lexaria is not currently profitable, with a negative P/E ratio of -10.11. However, the company's financial stability is bolstered by the fact that it holds more cash than debt on its balance sheet, and its liquid assets exceed short-term obligations. This financial positioning could provide Lexaria with the runway needed to continue its research and development efforts without immediate profitability concerns.
The stock's recent performance has been noteworthy, with a 123.14% price total return over the past year. This significant increase may reflect investor optimism about Lexaria's potential in the drug delivery space. However, with the stock trading at 39.42% of its 52-week high, there may be room for further growth if the company's research continues to yield positive results.
For investors seeking a more comprehensive analysis, InvestingPro offers 9 additional tips for LEXX, providing a deeper understanding of the company's financial health and market position.
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