Lexaria Bioscience (NASDAQ: LEXX), a global innovator in drug delivery platforms, just announced its ambitious plans for the 2024 calendar year. In his annual letter, Chris Bunka, Lexaria’s CEO, noted that this would mark the year that will prove all of the company’s work of producing hard, factual scientific information worth it, accomplishments that were critical given 2023’s challenges in the capital markets (https://ibn.fm/vcLob).
Bunka lauded his team for the strides the company made in 2023. Of note was its high success rate in its research and development (“R&D”), all necessary for the coming year. The company experimented with its patented DehydraTECH(TM) technology using an entirely new class of molecules, opening more possibilities for Lexaria. Most notably, its GLP-1 study yielded positive interim and final human pilot study results, showing that the technology delivered a statistically significant proportion of semaglutide and did so more quickly.
“Frankly, the results surprised us with their level of positivity,” noted Mr. Bunka. “It was found that DehydraTECH processing: delivered a statistically-significant higher proportion of the semaglutide, and did so more quickly; reduced the quantity and severity of unwanted side effects; and had a statistically-significant impact on blood sugar in general and much more effectively after eating a meal, than did Rybelsus,” he added.
Such positive results cut across all of Lexaria’s studies, from hypertension to cholesterol, triglyceride and weight loss management, human hormones, blood glucose, and diabetes, as well as oral nicotine. Bunka noted the challenge of convincing companies active in Consumer Packaged Goods (“CPG”) sectors to pay for technology to improve their product offerings, given thin margins.
Bunka acknowledged Invenomic Capital Management LP, who have been shareholders at Lexaria for a long time and who have accumulated more stock throughout the year.
While dealing with anticipated challenges, Lexaria had many wins for 2023, among which were ten newly granted patents. This brought the total patents granted to 38 and made 2023 the year Lexaria was granted the most patents since its inception. This, in addition to the roughly $800,000 recently received from the exercise of warrants, showed the company’s commitment to growing its position as a leader in its segment. The company looks to build on this momentum for 2024, ultimately asserting market dominance and making it the best year yet.
For more information, visit the company’s website at www.LexariaBioscience.com.
NOTE TO INVESTORS: The latest news and updates relating to LEXX are available in the company’s newsroom at https://ibn.fm/LEXX
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