- Lexaria just completed dosing for its second human clinical study, HYPER-H21-2
- The study sought to understand the human response to Lexaria’s DehydraTECH 2.0-enabled CBD
- The company also announced that its DehydraTECH-enabled consumer products are available for purchase in over 7,000 stores across the United States
- Lexaria also expanded its intellectual property portfolio with the allowance of its second patent in Japan
- It also received US$3,817,643 from warrant exercises, proceeds from which will be used to advance the company’s research and development program and for its general corporate purposes
Lexaria Bioscience (NASDAQ: LEXX) has been making incredible strides in 2021 as it works towards achieving its business plan objectives. At the beginning of the year, the company set out to conduct three human clinical studies, two of which are underway at the time of this article. Its most recent human clinical study, HYPER-H21-2, dosing was completed in July 2021 and was designed to understand better the human response to Lexaria’s DehydraTECH 2.0-enabled CBD (https://cnw.fm/Tzr2W). The company projects that preliminary results would be available for reporting either in September or earlier.
This second human clinical trial involved 16 human volunteers who previously dealt with hypertension or were mildly hypertensive at the time of the study. Each of the 16 participants received three different doses of 150 mg each of DehydraTECH(TM) 2.0-enabled CBD versus a placebo for a total dose of 450 mg. the study involved a 24-hr continuous ambulatory (portable) monitoring of vitals such as blood pressure and heart rate, while also taking into consideration evaluations of central arterial stiffness, physical activity as well as sleep quality.
Lexaria hopes to commence with the third and last human clinical hypertension study of 2021, HYPER-H21-3. It will offer updates in due course.
As the company celebrates the progress achieved through this second human clinical trial, Lexaria marked another massive milestone by increasing its market reach in the United States (“US’). With partnerships with Cannadips, New World CBD, Impact Naturals and Amari, among others, Lexaria’s DehydraTECH-enabled consumer products are available for purchase in over 7,000 stores across the US (https://cnw.fm/yg4Fv).
In an official statement from Chris Bunka, the Chief Executive Officer (“CEO”) of Lexaria, he noted that “Lexaria technology is enabling increased market share and sales growth for our continually growing list of corporate clients. We are delighted to help these innovators of today and leaders of tomorrow offer their clients superior performance and experiences that competitors simply cannot match, and we are highly anticipatory of additional growth to come.”
Lexaria is a global leader in enhancing the overall speed and efficiency of orally-delivered fat-soluble active molecules and drugs. With its drug delivery technology and its advancing intellectual property (“IP”), the company is transforming existing consumer products and medications that may improve their availability and bioavailability. Its flagship technology, DehydraTECH(TM), improves how active pharmaceutical ingredients (“APIs”) enter the bloodstream, primarily by promoting healthier oral ingestion methods and increasing the effectiveness of the fat-soluble active molecules.
As of early July 2021, Lexaria had 20 patents falling under 13 different patent families. In July, it got its second patent in Japan titled “Food and Beverage Compositions Infused with Lipophilic Active Agents and Methods of Use Thereof.” This became the company’s 21st patent granted to the company and the 17th patent granted to its first patent family.
Also, in July, Lexaria received US$3,817,643 from warrant exercises. The company issued the warrants in relation to its January 2021 public underwritten offering. Under this offering, the shares and warrants issued were registered according to a Form S-1 Registration Statement. They were excised into 580,189 shares of voting common stock of the company at an exercise price of US$6.58 per share (https://cnw.fm/dmMfb).
Lexaria noted that all proceeds received from the warrant exercises would be used to continue advancing the company’s investigational research program and for general corporate purposes.
With these critical milestones achieved so far, Lexaria is confident that its business plan objectives, along with all its operations, are now all set and fully funded, well into the 2022.
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://cnw.fm/LEXX
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