Lexaria Bioscience Corp. (LEXX) plunged 7.99% at $5.76 in after-market trading hours on Friday, May 7, 2021. The stock of LEXX gained 1.95% to complete the last trading session at $6.26. The price range of the company’s shares was between $5.51 and $6.99. LEXX’s shares have gained 23.72% in the last five days, while they have added 12.79% in the last month.
Participation in the upcoming conference
On May 7, 2021, Lexaria Bioscience Corp said that CEO Chris Bunka will present the company at the Benzinga Global Small-Cap Conference to be held on May 13-14, 2021.
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Presentation date: Thursday, May 13, 2021. Presentation time: 3:50 p.m. ET / 12:50 p.m. PT.
Mr. Bunka will provide an overview ofDehydraTECH™ drug delivery technology. He will also discuss Lexaria’s applied R&D programs that are evaluating the delivery effectiveness of DehydraTECH-processed cannabidiol (CBD) for hypertension.
HYPER-A21-1 successful results from First 2021 study
On May 6, 2021, Lexaria Bioscience Corp. announced successful outcomes in its first sets of data from its 2021 applied research and development (R&D) study programs.
HYPER-A21-1 included three new “DehydraTECH 2.0” formulation. All three new DehydraTECH 2.0 formulations delivered improved performance when compared to both Lexaria’s original DehdyraTECH 1.0 and 2.0 concentration-matched formulations, as well as to a medium-chain triglyceride oil-based control formulation
Commencing of human clinical hypertension study
On April 22, 2021, Lexaria Bioscience Corporation commenced its human clinical hypertension study HYPER-H21-1, involving 24 human volunteers with symptoms of either pre-hypertension or mild hypertension. Lexaria’s patented DehydraTECH CBD formulation will be examined to assess its ability to control blood pressure and assess its impact on inflammation.
A single 300mg dose of an advanced DehydraTECHTM 2.0 CBD formulation will be evaluated relative to a concentration-matched control without Lexaria’sDehydraTECH enhancements.
New chief financial officer appointment and Issuing of consultant warrants
On April 15, 2021, Lexaria Bioscience Corp. appointed a new Chief Financial Officer and issued share purchase warrants to third-party consultants.
Gregory Downey will be assuming the role of Chief Financial Officer of the Company from April 15, 2021. Mr. Downey has been engaged by the Company as its Controller and has intimate knowledge regarding the Company’s business and finances for the past two years.
The company also issued share purchase warrants up to an aggregate of 300,000 common shares to three unrelated third-party consultants. The Warrants are for three years ending on April 16, 2024, at an exercise price of US$9.00 per share.
Conclusion
Well, there is no such recent news which we may connect with its loss on Friday. there were some recent developments, which we have discussed but all of them are positive and should not be the reason behind its loss on Friday.
