KELOWNA, British Columbia - Lexaria Bioscience (NASDAQ:LEXX) Corp. (NASDAQ:LEXX; LEXXW), a leader in drug delivery platforms, has received approval from an independent ethics review board to commence a human pilot study focused on the delivery of GLP-1 drugs using their DehydraTECH technology. The study is set to begin with subject recruitment immediately and aims to start dosing within the next 30 days.
This second pilot study will involve up to nine healthy volunteers and will compare a single 7 mg dose of the diabetes drug Rybelsus® (semaglutide) with two DehydraTECH-enabled formulations.
The first arm of the study will evaluate a swallowed capsule form, while the second will explore an oral dissolvable tablet designed for sublingual/buccal absorption. Both forms are compliant with the U.S. Food and Drug Administration's Inactive Ingredient Database.
The study's objective is to assess the tolerability, pharmacokinetics, and blood sugar control efficacy of these new DehydraTECH formulations. Lexaria's CEO, Chris Bunka, expressed optimism about the study's potential to improve oral delivery of GLP-1 drugs, which are currently predominantly administered via injection, and to possibly facilitate strategic partnerships within the pharmaceutical industry.
DehydraTECH is Lexaria's proprietary technology that enhances the delivery of active pharmaceutical ingredients into the bloodstream. It has shown increased bio-absorption and the ability to cross the blood-brain barrier more effectively, which could be significant for treatments targeting central nervous system conditions.
Lexaria, which maintains a comprehensive intellectual property portfolio with numerous patents granted and pending globally, operates an in-house research laboratory. The company's advancements in drug delivery technology continue to be of interest to the pharmaceutical industry as they offer potential improvements in the effectiveness and patient experience of oral medications.
The information in this article is based on a press release statement from Lexaria Bioscience Corp. It is important to note that forward-looking statements in the press release are based on current estimates and involve risks and uncertainties. As such, actual results may differ from those projected in the statements.
InvestingPro Insights
As Lexaria Bioscience Corp. (NASDAQ:LEXX) embarks on a promising pilot study for their DehydraTECH technology, the company's financial metrics and market performance provide additional context for investors monitoring this innovative biotech firm. With a market capitalization of 25.64 million USD, Lexaria is a smaller player in the biotech field, yet it holds significant potential as indicated by its impressive gross profit margin of 92.66% in the last twelve months as of Q1 2024. This suggests that the company has been effective in controlling the cost of goods sold relative to its revenue, which is crucial for long-term sustainability.
An InvestingPro Tip highlights that while Lexaria has been quickly burning through cash, it's important to note that the company's liquid assets exceed its short-term obligations, providing some financial cushioning as it invests in research and development. Moreover, the company's stock has experienced a large price uptick over the last six months, with a 215.9% return, reflecting investor optimism surrounding its technological advancements and potential market opportunities.
However, analysts are cautious, as they do not anticipate the company will be profitable this year, and Lexaria is trading at a high revenue valuation multiple of 10.02 in terms of price to book as of Q1 2024. This could suggest that the stock is priced optimistically in relation to its tangible assets. For investors interested in a deeper dive into Lexaria's performance and future outlook, there are 12 additional InvestingPro Tips available, which can be accessed with the promo code PRONEWS24 for an additional 10% off a yearly or biyearly Pro and Pro+ subscription.
Overall, Lexaria's advancements in drug delivery technology are being closely watched by the market, and the company's financial health will be an important factor in its ability to capitalize on its technological innovations.
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