Lexaria Bioscience (NASDAQ: LEXX) CEO Chris Bunka has released an annual letter to shareholders. The detailed letter talks about company highlights throughout the year, including the fact that, despite challenges such as global supply chain disruptions and threatening inflation, “Lexaria continues to navigate well and is focused on those things it can control such as applied R&D designed to entice others to work with us commercially. . . . [The company] has not terminated any staff and in fact our in-house team as well as our external consultant head-count has never been higher, in order to conduct and [analyze] an unprecedented volume of work. We’ve managed our growth while exercising excellent fiscal controls and have hit our annual budgets, +/- about 2%, for the last two years running.” The letter recapped the company’s impressive R&D efforts, which Bunka called the “lifeblood” of the company, including the fact that LEXX is in active discussions with multibillion dollar companies around the world regarding the potential use of its proprietary DehydraTECH in a variety of commercial product pursuits. R&D efforts include a focus on hypertension and heart disease, nicotine, and seizure disorders, as well as other R&D programs. The letter also noted that the company received a successful pre-IND response from the FDA clearing the way to proceed toward formal IND filing. Bunka also reported that the company has seen “an increase in institutional ownership of our shares, which I believe is a sign of ‘smart money’ coming into our stock.”

In addition, the letter outlined Lexaria’s progress in commercial results and collaboration, which included signing new customers that will begin to have an impact on revenue in 2023 and beyond. “Lexaria achieved most of its goals for 2022 and did so while adhering to tight budgets and fiscal controls in a world where inflation is rampant,” said Lexaria CEO Chris Bunka in the shareholder letters. “We’re very careful and stingy with our shareholder’s money, and we try to build value at every step, even if that sometimes means projects take more time to complete. Our largest study ever, HYPER-H21-4, was completed on schedule, and although primary results have been released and were positive, secondary results have been slow to arrive and will continue to be released in 2023. We have several studies ongoing with dosing completion expected in the first three months of 2023, and these could help shape subsequent investigatory work. And of course, the biggest item to be accomplished in 2023 will be our IND filing and approval for initiation of the work program thereunder.”

To view the full press release, visit https://cnw.fm/KawHW

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 with cannabinoids, antiviral drugs, PDE5 inhibitors 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 28 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://cnw.fm/LEXX

About CannabisNewsWire

CannabisNewsWire (CNW) is an information service that provides (1) access to our news aggregation and syndication servers, (2) CannabisNewsBreaks that summarize corporate news and information, (3) enhanced press release services, (4) social media distribution and optimization services, and (5) a full array of corporate communication solutions. As a multifaceted financial news and content distribution company with an extensive team of contributing journalists and writers, CNW is uniquely positioned to best serve private and public companies that desire to reach a wide audience of investors, consumers, journalists and the general public. CNW has an ever-growing distribution network of more than 5,000 key syndication outlets across the country. By cutting through the overload of information in today’s market, CNW brings its clients unparalleled visibility, recognition and brand awareness. CNW is where news, content and information converge.

To receive SMS text alerts from CannabisNewsWire, text “Cannabis” to 844-397-5787 (U.S. Mobile Phones Only)

For more information please visit https://www.cannabisnewswire.com

Please see full terms of use and disclaimers on the CannabisNewsWire website applicable to all content provided by CNW, wherever published or re-published: http://CNW.fm/Disclaimer

Do you have questions or are you interested in working with CNW? Ask our Editor

CannabisNewsWire (CNW)
Denver, Colorado
www.cannabisnewswire.com
303.498.7722 Office
Editor@CannabisNewsWire.com

CannabisNewsWire is part of the InvestorBrandNetwork.