KELOWNA, British Columbia – Lexaria Bioscience (NASDAQ:LEXX) Corp. (NASDAQ:LEXX; LEXXW), a leader in drug delivery platforms, has expanded its patent portfolio with the addition of three new patents in the United States and Japan. The company announced today that it received two patents in the United States for its Compositions and Methods for Treating Epilepsy, and one patent in Japan for Enhanced Delivery of Antiviral Agents.
The newly awarded U.S. patents are the first in Lexaria's patent family #24 and are set to expire in 2042. They cover DehydraTECH-CBD, a formulation shown in rodent studies to be more effective in mitigating seizures and delivering active pharmaceutical ingredients (APIs) into the bloodstream compared to existing cannabinoid-based medications like Epidiolex. The patents specifically pertain to swallowed capsules and dissolvable oral tablets.
In Japan, Lexaria's patent family #18 has been expanded with a patent that will expire in 2041. This patent is based on studies indicating that DehydraTECH technology can enhance the delivery of antiviral drugs by 42% to 204%. The Japanese patent follows previous grants in Australia and the U.S.
With these additions, Lexaria now manages a portfolio of 41 granted patents worldwide. The company's DehydraTECH platform is recognized for its ability to improve how APIs are absorbed through oral delivery. Lexaria believes DehydraTECH's capability to effectively transport drugs across the blood-brain barrier is particularly significant for centrally active compounds.
Lexaria runs a licensed in-house research laboratory and continues to pursue a robust patent strategy with numerous pending applications globally. The company's intellectual property is a critical element in supporting its future business objectives.
The information reported is based on a press release statement from Lexaria Bioscience Corp.
InvestingPro Insights
Lexaria Bioscience Corp. has recently bolstered its intellectual property portfolio with strategic patent acquisitions, which may play a pivotal role in the company's growth. In light of these developments, let's consider some financial metrics and InvestingPro Tips that could be of interest to investors who are closely monitoring LEXX's progress.
From a financial standpoint, Lexaria has a market capitalization of approximately $43.33 million USD, reflecting the market's current valuation of the company. Despite a challenging revenue growth trajectory with a decrease of 17.54% over the last twelve months as of Q1 2024, the company experienced a notable quarterly revenue growth of 54.78% in Q1 2024. This suggests potential signs of recovery or growth in the company's sales. Additionally, Lexaria maintains an impressive gross profit margin of 92.66% for the same period, indicating strong control over its cost of goods sold relative to revenue.
Turning to InvestingPro Tips, analysts are optimistic about Lexaria's sales growth in the current year, which could be a positive indicator for investors looking for companies with the potential for revenue expansion. Moreover, Lexaria operates with a moderate level of debt, which may provide some financial flexibility and less risk compared to highly leveraged companies.
However, it's important to note that analysts do not anticipate the company will be profitable this year, and the stock has experienced a significant decline over the past week. Despite these concerns, the company's liquid assets exceed its short-term obligations, suggesting a level of financial stability in meeting its immediate liabilities.
For those interested in a deeper analysis, there are additional InvestingPro Tips available, providing a comprehensive picture of Lexaria's financial health and market performance. Use coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription, unlocking access to these valuable insights. There are a total of 13 InvestingPro Tips listed for Lexaria, which could further guide investment decisions.
As Lexaria continues to advance its drug delivery platforms and expand its patent portfolio, these financial metrics and InvestingPro Tips offer a snapshot of the company's current standing and potential future trajectory.
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