KELOWNA, British Columbia – Lexaria Bioscience (NASDAQ:LEXX) Corp. (NASDAQ:LEXX & LEXXW), a drug delivery platform innovator, has announced preliminary results from its second human pilot study, GLP-1-H24-2, showing a trend toward higher absorption of its DehydraTECH-processed Rybelsus compared to unprocessed Rybelsus. The study observed semaglutide levels and found an average of 18.8% higher levels over 24 hours with DehydraTECH, although the small sample size rendered the results statistically insignificant.
The study, which compared the absorption of 7 mg semaglutide doses from Rybelsus tablets and DehydraTECH-processed capsules, involved volunteers in a fed state. This follows a previous study where DehydraTECH showed a 43% peak blood level improvement under fasted conditions. Notably, Novo Nordisk (NYSE:NVO), the manufacturer of Rybelsus, recommends taking the medication on an empty stomach to enhance absorption.
Chris Bunka, CEO of Lexaria, expressed satisfaction with the timely completion of the study's active phase and highlighted the continued pharmacokinetic improvements of DehydraTECH under fed conditions. The company's 2024 GLP-1 experimental program will next finalize an ongoing animal study and initiate a 12-week chronic human study, with data from tolerability evaluations and a mouth melt absorption study arm expected soon.
Rybelsus (semaglutide) is an FDA-approved GLP-1 drug for oral dosing to treat diabetes and weight loss, with other forms like Ozempic and Wegovy available for injection. Lexaria's patented DehydraTECH technology aims to enhance the delivery of active pharmaceutical ingredients (APIs) through oral routes and has been investigated for various molecules since 2016.
The company's press release includes forward-looking statements regarding research initiatives and potential effects from studies, which are subject to risks and uncertainties. Lexaria has emphasized that its technology is not guaranteed to achieve the anticipated benefits and that the statements have not been evaluated by the FDA.
This news is based on a press release statement from Lexaria Bioscience Corp. and has not been independently verified.
In other recent news, Lexaria Bioscience Corp. has reported promising results from its ongoing animal studies, indicating potential benefits in diabetes management and weight loss efficacy through its DehydraTECH technology. The studies have shown that DehydraTECH-liraglutide and DehydraTECH-CBD formulations outperformed their counterparts, leading to reductions in blood sugar levels and weight loss in animal subjects. Additionally, the company has announced progress in a joint research program with the National Research Council of Canada, focusing on DehydraTECH's effectiveness in processing the GLP-1 drug, semaglutide.
H.C. Wainwright has maintained its Buy rating for Lexaria Bioscience, highlighting the potential of the DehydraTECH technology to significantly impact obesity and diabetes treatment. The company has also expanded its management team, appointing Nelson Cabatuan as the consulting Chief Strategic Financial Advisor. Furthermore, Lexaria Bioscience has acquired two significant patents pertaining to the treatment of hypertension and epilepsy.
These developments are part of Lexaria's ongoing commitment to research and innovation in the pharmaceutical sector. Importantly, these are recent developments and further results from the ongoing studies are anticipated. As always, it's crucial for investors to remember that while these developments are promising, they are subject to further research and regulatory approvals.
InvestingPro Insights
Lexaria Bioscience Corp. (NASDAQ:LEXX), known for its innovative drug delivery platform, has shown a commitment to advancing its DehydraTECH technology. In light of the company's recent study results and ongoing research, investors may find the following insights from InvestingPro particularly relevant:
InvestingPro Tips indicate that Lexaria holds more cash than debt on its balance sheet, which could provide financial flexibility for continued research and development efforts. Additionally, analysts anticipate sales growth in the current year, signaling potential optimism around the company's commercial prospects.
From a financial metrics perspective, Lexaria's market capitalization stands at $45.85 million, reflecting the company's size within the biotech sector. Despite not being profitable over the last twelve months and a negative P/E ratio of -6.22, the company's gross profit margin is impressively high at 98.83%, according to the latest data. This high margin suggests that, while the company is still in the investment phase, it can generate substantial revenue relative to the cost of goods sold when it does make sales.
Investors should note that Lexaria's stock has experienced significant volatility, with a 168.97% return over the last year, yet it has taken a considerable hit over the last week. This volatility is characteristic of the biotech industry, where stock prices can be heavily influenced by the outcomes of clinical trials and regulatory approvals.
For those interested in further information, InvestingPro offers additional tips on Lexaria Bioscience Corp., which can be accessed at https://www.investing.com/pro/LEXX. Engaging with these insights could provide investors with a deeper understanding of the company's financial health and market potential.
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