Lexaria Bioscience Corp. (LEXX) shares rose 1.86% in after-hours on Tuesday, October 5, 2021, and closed the daily trading at $6.56. Even in the regular trading session of Tuesday, LEXX’s stock gained 2.22%. The stock volume remained 0.35 million shares. LEXX shares have fallen 14.17% over the last 12 months, and they have moved down 2.13% in the past week. Over the past three months, the stock has lost 4.02%, while over the past six months, it has gained 13.78%.
Let’s see what’s going on recently with the company?
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LEXX Nicotine study results
On October 5, 2021, Lexaria Bioscience Corp. (LEXX) announced that its recent oral nicotine absorption study NIC-A21-1 revealed that DehydraTECHTM-nicotine was delivered via the oral pouch product format required only 2 to 4 minutes to deliver nicotine levels in blood plasma comparable to levels achieved at 45 minutes with concentration-matched controls. These findings support the world’s fastest-acting nicotine oral mucosal absorption, offering a safer nicotine alternative for the world’s 1.1 billion smokers to kick the antiquated habit.
Participation in the recent investor conference
Lexaria Bioscience Corp. (LEXX) recently participated at the 23rd Annual H.C. Wainwright Global Investment Conference which was held virtually from September 13-15, 2021. The company was presented by the Chairman & CEO Chris Bunka.
LEXX IND for DehydraTECH-CBD
On September 8, 2021, Lexaria Bioscience Corp. (LEXX) formally began the Investigational New Drug IND process with the Food and Drug Administration (FDA) for its DehydraTECH-processed cannabidiol as a prospective registered pharmaceutical treatment for hypertension.
The IND application will be based on 2018 human clinical pharmacokinetic (PK) study, along with several successful animal studies demonstrating PK performance and molecular characterization work completed through Canada’s National Research Council, which have together established a strong body of evidence for Lexaria’s DehydraTECH-CBD.
LEXX initial study results about DehydraTECHTM
On September 7, 2021, Lexaria Bioscience Corp. (LEXX) announced initial results from human clinical study HYPER-H21-2 evaluating DehydraTECHTM-processed cannabidiol (CBD) for potential application against hypertension.
At selected times during the 24-hour study, volunteers with mild to moderate hypertension averaged as much as a 20 mmHg (i.e., 23%) decrease in BP relative to placebo.
LEXX warrants exercise
On July 26, 2021, Lexaria Bioscience Corp. (LEXX) announced the receipt of US$3,817,643 from the exercise of share purchase warrants.
The Warrants were issued by the Company and exercised into 580,189 shares of voting common stock of the Company at an exercise price of US$6.58 per share.
The recent nicotine study results were the reason behind its gains on Tuesday and we can see it further go up in the coming trading sessions.