Lexaria Bioscience Corp. (LEXX) stock prices soared by 28.07% at the end of the trading day on July 21st, 2021, bringing the price per share up to USD$8.44 at the end of the trading day. Subsequent premarket fluctuations have seen the stock fall by 11.14%, bringing it down to USD$7.50.
The company reported having successfully met its objectives for its 2021 antiviral drug examination program designed to evaluate DehydraTECH. The technology exhibited evidence of superior oral absorption of its processed compounds of leading classes of antiviral drugs for Covid-19, HIV/AIDS, and other infection diseases. DehydraTECH was also evaluated in regard to its processing of those compounds managing to preserve expected viral inhibitory performance, guided by efficacy testing in infected mammalian cells. The treatment was also proven to not adversely affect the drug molecules chemically, thereby creating new molecular entities that would prove to be difficult in guiding through the regulatory approval process.
To this end, LEXX is allocating resources towards a comprehensive multi-pronged program. It is designed to demonstrate essential proof-of-concept safety, efficacy, and formulation/scalability feasibility data to potential pharmaceutical industry partners. This is in line with the company’s strategy to create additional value-adding opportunities for further collaborative product development.
Expanding Market Footprint
The company is keen to leverage its DehydraTECH technology to pursue strategic collaboration opportunities with established industry partners who may be incorporating the technology with antiviral drugs. The company is striving to prove DehydraTECHworks to enhance oral delivery characteristics of relevant drugs, with its scope extending to other related treatments as well. Cumulatively, the company hopes to help develop treatments to fight a myriad of virus triggered diseases, including, but not limited to, shingles, influenza, viral forms of gastroenteritis, hepatitis, meningitis, and pneumonia.
Scope of DehydraTECH
Despite the efficacy and accessibility of vaccines to prevent many viral infections, thousands of people die annually from viral infections while being unvaccinated. Current estimations peg more than 99% of the 200,000 US death since January 1st, 2021 as a result of the Covid-19 pandemic being in people who were unvaccinated. This demonstrates the vital and expansive existing need for successful treatment options for those who are unvaccinated.
Future Outlook for LEXX
Armed with the continued proliferation of its flagship DehydraTECH technology, LEXX is poised to capitalize on the opportunities arising from its expanding network of strategic partners. Current and potential investors are hopeful that management will continue to leverage the resources at its disposal to facilitate significant and sustained increases in shareholder value.