Lexaria Bioscience (NASDAQ: LEXX, LEXXW), a global innovator in drug-delivery platforms, has released a shareholder letter from CEO Chris Bunka. In the letter, Bunka notes that near the end of 2023, 446 companies on the NASDAQ were trading under $1 and at risk of being delisted compared to almost none in 2021. Bunka stated that “it was a tough year for microcap companies, which are often too early stage to have profitable operations and withstand the harsh realities of the investment banking and finance industries: capital was much harder to come by in 2023 than at any time in recent years.” With that in mind, Bunka says, the company can “at least breathe a sigh of relief and say, ‘we survived,’ and, in fact, made considerable advancements.” In the letter, Bunka noted the company’s progress with its intellectual property (“IP”) portfolio front and its new corporate client resulting from its newly created nutraceutical subsidiary; Bunka also acknowledged the “real challenges in the capital markets that negatively affected shareholder value and overwhelmed our progress in other areas.” In the letter, Bunka reported on a list of key topics including capital markets and shareholders, U.S. Food and Drug Administration registration, and research and development efforts in the following sectors: hypertension; cholesterol, triglyceride and weight-loss management; human hormones; blood glucose and diabetes; reduced-risk oral nicotine; glucagon-like peptides (GLP-1); and blood semaglutide and glucose levels (mmol/l). Bunka noted that in 2024, the company’s efforts will be tightly focused on GLP-1 investigations, with several anticipated studies being planned. Bunka reported that Lexaria received 10 new granted patents during 2023, more than in any previous year; the company now has a total of 38 patents granted worldwide.
“I am more positive than ever before about our chances of establishing a commercial relationship with a significant pharmaceutical company in the year to come,” said Lexaria Biosciences CEO Chris Bunka in the shareholder letter. “Why? Because we have never been more confident in our intellectual property portfolio; we have witnessed consistent drug-delivery improvements with a variety of molecules; we have established a foundation for our studied molecules to better qualify them for commercial use and have learned what must be done in advance of gaining a corporate partnership; and we have now demonstrated DehydraTECH’s superiority with one of the most valuable molecule classes in the world (GLP-1). Our 2024 research program for GLP-1 drugs is ambitious but logical. It is well within our ability to execute (subject to some financing needs). And, if it continues to deliver results similar to those we’ve already seen, together with our ever-advancing progress on DehydraTECH-related intellectual property, I’m just not aware of what else we would need to do in order to find a strong commercial partner.”
To view the full press release, visit https://ibn.fm/IWEDV
About Lexaria Bioscience Corp.
Lexaria Bioscience’s patented drug-delivery technology, DehydraTECH(TM), improves the way active pharmaceutical ingredients (“APIs”) enter the bloodstream by promoting more effective oral delivery. Since 2016, DehydraTECH has repeatedly demonstrated the ability to increase bioabsorption cannabinoids, antiviral drugs, GLP-1 and more. DehydraTECH has also evidenced an ability to deliver some drugs more effectively across the blood brain barrier. Lexaria operates a licensed, in-house research laboratory and holds a robust intellectual property portfolio with 38 patents granted and many patents pending worldwide. For more information about the company, please visit 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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