KELOWNA, BC / ACCESS Newswire / January 12, 2026 / Lexaria Bioscience Corp. (Nasdaq:LEXX)(Nasdaq:LEXXW), (the "Company" or "Lexaria"), a global innovator in drug delivery platforms is pleased to provide this Annual Letter from its Chief Executive Officer ("CEO") Richard Christopher as a strategic update to all stakeholders.

CEO Letter to Stakeholders

Dear Fellow Stakeholders,

I'm truly honored to deliver Lexaria's Annual Letter from the CEO following my first full year in the position.

I'm pleased to report that, in 2025, Lexaria made significant progress in further evidencing the potential to advance oral based drug delivery within the GLP-1 sector with the use of its proprietary DehydraTECHTM ("DHT") technology. A number of human and animal studies were conducted and concluded in 2025 which produced extremely encouraging safety and tolerability, pharmacokinetic, weight loss, blood glucose, insulin, biodistribution, and blood pressure results.

The key highlights, results, and achievements from 2025; as well as a glimpse into our 2026 plans, are summarized as follows:

(Please note: all dates within this letter refer to calendar periods versus fiscal periods)

2025 Highlights

  • Our DHT technology once again this year demonstrated positive results in each and every research and development ("R&D") study reported on in 2025. These studies included: Human Pilot Study #3 (GLP-1-H24-3), Human Study #4 (GLP-1-H24-4), Human Pilot Study #5 (GLP-1-H25-5), and our rodent biodistribution study;

  • The Company completed its first Phase 1b registrational study (Human Study #4) in Australia;

  • 10 additional patents were issued in 2025, including important new patents in the GLP-1 sector, increasing the Lexaria portfolio to 56 patents worldwide;

  • We extended our Material Transfer Agreement ("MTA") with a pharmaceutical company ("PharmaCo") to evaluate our DHT technology; and

  • The Company successfully raised a gross total of $9.5M during 2025 over the course of three distinct equity raises which fuels our exciting 2026 plans.

2025 R&D Results

In 2025, Lexaria dedicated nearly all of its resources to studying the use of its proprietary oral DHT technology with each of the three top GLP-1 drugs in the world today: semaglutide, tirzepatide, and liraglutide. These drugs are the active ingredients contained in the following seven branded products offered by industry leaders Novo Nordisk® and Eli Lilly.

1 liraglutide went off patent in 2024 and is currently offered by Teva Pharmaceuticals and others in a generic form.

We conducted initial evaluations of each of these drugs because we want to provide as many opportunities for commercial success as possible, even if doing so was audaciously aggressive given our diminutive size.

The market for these branded products continued to explode in 2025 with 9-month worldwide revenues increasing from $34.4B in 2024 to $51.9B in 2025 - an increase of $17.5B or 51% year-over-year. This may be the largest revenue growth of any drug class in history.

In addition, the marketplace is becoming increasingly more competitive with new companies, new products, and new opportunities seemingly coming forth each and every week. On top of that, companies are seeking label expansion beyond diabetes and weight loss into such areas as: cardiovascular disease, sleep apnea, metabolic dysfunction associated steatohepatitis (MASH/NASH), chronic kidney disease, and neurodegenerative diseases to name a few. Just one example of this was that semaglutide received both FDA and Health Canada approval in 2025 to treat kidney disease.

Despite the massive opportunities noted above, revenue growth has been largely absent in the orally-delivered segment of the GLP-1 marketplace. Prior to the recent approval of the oral version of the Wegovy® product, there had only been one orally-delivered product approved by the FDA - Rybelsus®. Revenues from Rybelsus® remained relatively flat increasing from $2.5B in 2024 to $2.6B in 2025 - an increase of just $0.1B or 2% year-over-year on a 9-month basis. In fact, only 5% of the overall revenue generated by the seven branded products listed above during the first 9 months of 2025 was oral based. But we believe this is about to change, and we are positioning Lexaria to ride the wave of expected new oral products.

Lexaria's opportunity has never been greater! We are dedicated to advancing and expanding the oral offerings both inside and outside of the GLP-1 marketplace. We aim to do so by leveraging our DHT technology's proven ability to reduce the adverse events ("AEs") of some of the world's biggest-selling drugs while maintaining or even improving their effectiveness.

Why is this so important?

Unwanted AEs are a significant problem plaguing the GLP-1 industry - which, as noted, is currently primarily an injectable industry. They are led by gastrointestinal ("GI") issues, namely: nausea, vomiting, diarrhea and constipation. One study showed that between 47% and 64% of GLP-1 users with type 2 diabetes discontinued use of their GLP-1 drug within 1 or 2 years, respectively, with GI AEs having been cited as the main cause linked to the discontinuation rates.

If roughly half of the patients using GLP-1 drugs discontinue use, the industry is faced with the potential loss of tens of billions of revenue dollars per year based just on the current approved therapeutic conditions. This loss grows dramatically as GLP-1 drugs are approved to treat additional conditions and diseases. Lexaria's market opportunity is truly measured in the tens of billions of dollars.

Oral GLP-1 drug delivery without unwanted AE's is even more challenging than injectable, in part because much more of the drug must be used in oral formats to overcome the inherent obstacles in oral vs. injectable drug delivery; and using higher quantities of drug can lead to even worse AE's. These are the industry challenges that Lexaria's DehydraTECH is specifically designed to mitigate.

Throughout 2025, we added to our dataset evidencing continued success when utilizing DHT with all three of the top GLP-1 drugs in the world today (semaglutide, tirzepatide, and liraglutide), as well as our own cannabidiol ("CBD") formulations. We generated many thousands of pages of study outputs, a small fraction of which was publicly released. We are currently leveraging this wealth of data in designing upcoming R&D work that will build upon what was learned through 2025.

The results from our 2025 studies are summarized as follows (ordered chronologically by results reporting dates):

Human Pilot Study #3:

In Human Pilot Study #3, Lexaria for the first time worked with the drug tirzepatide, which is currently only sold in an injectable format by Eli Lilly under the brand names Zepbound® and Mounjaro®. The study was designed to investigate the safety, tolerability, and pharmacokinetics of the conventional injected Zepbound® product as compared to an oral version of DHT-processed Zepbound®.

The results of this study were released during the first quarter of 2025, and were notable in terms of AE improvement, blood glucose reduction, insulin secretion, and drug accumulation in the bloodstream. As for AEs, the DHT-tirzepatide capsule arm demonstrated a 47% AE reduction as compared to the injectable Zepbound® control arm. In terms of blood glucose levels, the DHT-tirzepatide capsule arm evidenced a comparable reduction in blood glucose levels over the 8-day duration period to the injectable Zepbound® control arm. Further, both arms in this study produced similarly increased levels of insulin from baseline to the end of the 8-day duration period. Lastly, DHT-tirzepatide oral capsules delivered more consistent accumulation and ultimately reached parity with injectable Zepbound® in terms of the delivery of drug into the bloodstream by the end of this study.

Human Pilot Study #5:

In Human Pilot Study #5, Lexaria continued its work with the drug liraglutide, which is sold by Novo Nordisk® under the brand names Saxenda® and Victoza®, and is also currently only available in an injectable format. This drug went off-patent in 2024 and is now also marketed as a generic by Teva Pharmaceuticals and others.

Human Pilot Study #5 was designed to investigate the safety, tolerability, and pharmacokinetics of Novo Nordisk's conventional injected Saxenda® product as compared to an oral version of DHT-liraglutide.

The initial results of the study were published in June, and were highlighted once again by pronounced AE improvement as oral DHT-liraglutide offered a 23% reduction in AEs as compared to the injected Saxenda®. The differences in measurements of blood glucose, insulin, and body weight across most time points in this study were not statistically significantly different, with remarkable similarity in many areas and slight differences in others. Weight loss was experienced by 9 out of 10 people in each study arm and was slightly higher in the Saxenda® study arm, though weight loss was not a primary goal of this study with the relatively short treatment period.

We achieved the primary goal of this study by demonstrating that oral DHT-liraglutide had comparable functional results to that of the injected version of liraglutide - Saxenda®. This could allow for an expedited FDA regulatory pathway known as a 505(b)(2) new drug application that is available when an alternate version of a drug (e.g., the dosage form change from injection to oral administration as tested within this study) retains certain similar performance characteristics as an earlier-approved version of that same drug.

We are still completing final reporting from this study and remain excited about the possibility of establishing DHT-liraglutide as a brand new oral liraglutide-dosing alternative to Saxenda® and the other generic versions of injected liraglutide. We feel this is an unmet market need which DHT may have the ability to address. We plan to take additional steps in 2026, including exploring prospective strategic corporate partnering interest and opportunities, to investigate whether relatively rapid access to the marketplace of DHT-processed liraglutide might be possible via the expedited 505(b)(2) development pathway.

Rodent Biodistribution Study:

In 2025, we conducted the world's first-ever fluorescently tagged semaglutide ("FTS") rodent biodistribution study. The main goal of this study was to determine whether the DHT processing of semaglutide improved its biodistribution in any significant way as compared to the conventional orally administered semaglutide formulation practice used by Novo Nordisk's Rybelsus® product.

The results of the study were announced in September. The most intriguing finding from the study was that Lexaria's DHT-FTS composition, across all doses tested, demonstrated a predominantly higher apparent trend in brain biodistribution (evidenced as fluorescent signal intensity upon whole brain imaging) than the Rybelsus® composition and all study controls.

The findings were very meaningful to us and, as a recent CNBC report indicates, GLP-1 drug performance is increasingly understood to include or even depend upon involvement of brain neurochemistry, thus making brain biodistribution vital.

We consider the early-stage results from our rodent biodistribution study to be highly encouraging and supportive of both additional research and of industry partnerships designed to produce safer and more effective GLP-1 drugs.

Human Study #4:

In 2025, we completed our first registered Phase 1b study (Human Study #4) in Australia, which was focused on diabetes and weight loss.

The results of the study were released on December 23rd and December 30th. We were extremely pleased to report that the primary endpoints of safety and tolerability were met. In fact, all four of the DHT articles tested proved to be safe and well tolerated. Of the DHT formulations evaluated, DHT-semaglutide was the top performer in terms of total AE reductions. There was a 48% reduction in the total quantity of AEs derived from the DHT-semaglutide arm versus the Rybelsus® control arm. Of note, there was also a statistically significant (nominal p-value <0.05) 55% reduction in GI AEs from DHT-semaglutide vs. Rybelsus® with pronounced reductions evidenced in the instances of nausea, vomiting and diarrhea. It is also worthy of note that the DHT-semaglutide AE percent reductions were higher at the end of this study than they were at the 8-week interim analysis mark, meaning that the safety gap improved over time.

In addition, this study demonstrated positive findings across other parameters such as the intriguing evidence that DHT-semaglutide appeared to achieve proportionally lower lean mass to fat mass bodyweight reduction compared to the Rybelsus® control.

Another finding of particular note from this study, was the impact that the DHT-CBD capsule arm had on reducing blood pressure in patients who were generally not hypertensive at the beginning of the study (i.e. hypertension was not a recruitment requirement). At week 4, a mean change of 4.6 mmHg in systolic blood pressure and 4.0 mmHg in diastolic blood pressure was evidenced in the DHT-CBD arm. Blood pressure reductions were also evident in this arm following completion of treatment at the week 16 follow up point (4 weeks after cessation of treatment) with a mean change of 2.6 mmHg in systolic blood pressure and 3.0 mmHg in diastolic blood pressure reported. These findings were very encouraging relative to our separate program interests in pursuing development of DHT-CBD for the treatment of hypertensive patients. Lexaria has previously received FDA clearance to conduct a Phase 1b study to investigate DHT-CBD for hypertension.

This study also provided Lexaria with important clues toward prospective DHT-GLP-1 composition enhancements perhaps leading to superior DHT formulations to be tested in 2026. For instance, while the findings from this study obviously pointed to the DHT-semaglutide test article being most worthy of continued investigation, it would seem most prudent for any such testing work to include the salcaprozate sodium ("SNAC") ingredient chemistry present in Lexaria's DHT-semaglutide formulations originally tested in its previous clinical studies Human Pilot Studies #1 and #2, but not included in Human Study #4. These previous human clinical studies evidenced the strongest DHT-semaglutide efficacy performance to-date, superior even to the Rybelsus® control used therein, while also maintaining improvements in safety and tolerability relatively speaking with the DHT-semaglutide formulation studied. Of note, the decision to not include the SNAC ingredient chemistry together with the DHT-semaglutide composition in Human Study #4 was an intentional design to clearly distinguish performance differences versus Rybelsus® in a controlled clinical setting. Potentially revisiting inclusion of SNAC, or SNAC-like ingredients, in the DHT-semaglutide composition in future clinical testing work would allow Lexaria to explore the goal of evidencing performance gains for new compositions.

Now that the final results from Human Study #4 have been publicly released, Lexaria is in the process of relaying the dataset to PharmaCo. Of note, the study report is quite voluminous at over 7,000 pages long, contains a tremendous amount of data, and is expected to take some time to review and analyze. All of this was taken into account when the MTA agreement with PharmaCo was extended through April 30, 2026.

2026 Research & Development:

Even before our 2025 R&D program came to an end, we had already begun scoping out work plans for 2026 to build upon key lessons learned to-date. Although we are not ready today to provide detailed plans of that work, we certainly can provide some basic guidance.

Our #1 priority remains GLP-1, and specifically, our relationship with our MTA partner (discussed in more detail below). Our 2025 Human Study #4 produced extremely important information that greatly advanced our DHT-GLP-1 program. Indeed, Human Study #4 provided us with vital clues that we intend to utilize to formulate potentially new and improved oral GLP-1 products, as measured both by reduced AE's and impressive performance.

Therefore, we have already started designing our next DHT-GLP-1 human study to leverage advanced, next-generation DHT oral formulations that no other company in the world possesses. Once we have finalized this study design, it will be announced and vigorously pursued. As currently envisioned, we would expect to complete this study during calendar 2026, and we can fully fund it using existing Company resources.

We are also considering a new animal study under design to explore additional new and improved DHT-GLP-1 formulations, including leading developmental GLP-1 peptide agonists not previously tested together with DHT. Lexaria's DHT technology is a dynamic platform that allows us to build layers of specialized and varied ingredients on top of standard patented processes; this compatibility grants us numerous choices when optimizing for different drugs, and that optimization process for DHT-GLP-1 is by no means complete! While design work is still ongoing, we expect to complete this study during calendar 2026 as well utilizing existing Company resources.

Also, as noted above, we plan to also take additional steps in 2026 to investigate whether DHT-processed liraglutide might offer relatively rapid access to the marketplace via the expedited 505(b)(2) development pathway. This may involve select R&D activities, fully funded using existing Company resources, and the exploration of prospective strategic corporate partnering interest and opportunities to support this program.

Newer shareholders might not fully realize the adaptability that DHT offers, and I believe it is important to convey that our DHT-GLP-1 formulation explorations are not complete and may yet yield even more powerful results than have been obtained to date. As such, part of our ongoing work is to continually explore additional formulations in search of higher performance. The animal and human studies under consideration will be designed to do exactly this.

We are also exploring additional R&D in areas outside of GLP-1. We've conducted work in many sectors since our original discovery of DHT, and we have intriguing commercial opportunities that remain untapped. Once design work has been more fully completed, we will announce those studies that we decide to pursue.

Collaboration Agreement:

In September of 2024, the Company entered into an MTA with PharmaCo. The purpose of the agreement was to evaluate the use of Lexaria's DHT technology in a pre-clinical setting with use of the partner's undisclosed drug.

The pre-clinical studies covered by the MTA, which examined pharmacokinetics in animals, were completed in early 2025. In May, Lexaria was informed by PharmaCo that they wished to review the pending safety (AE), pharmacokinetic, and efficacy data from Lexaria's independent Human Study #4.

In November of 2025, we announced that the MTA had been extended through April 30, 2026, to accommodate the time needed for PharmaCo's receipt and review of the full dataset from Lexaria's Human Study #4. This allows the parties to continue their relationship under the MTA, keep the temporary exclusive license active and in force, and contemplate additional strategic planning discussions.

As of the date of this Letter, as noted above, Lexaria is in the process of relaying the Human Study #4 dataset to our MTA partner and, once they have completed their review, we expect to discuss with them possible next steps. Our goal with our MTA pharmaceutical partner is to provide them with data sufficient to enable them to make decisions about potential next steps utilizing DHT. The achievement of the primary endpoint in Human Study #4, with DHT evidencing superior safety and tolerability and a significant reduction in GI side effects especially relative to Rybelsus®, may be considered attractive and compelling to PharmaCo in its deliberations about potential next steps in its relationship with Lexaria. This would be consistent with the pharmaceutical industry's strong appetite in the related therapeutic sectors for improvements in unwanted side effects as Lexaria previously reported.

Business Development:

Our MTA partner is of great importance to us but is not our only business initiative. Lexaria has held a variety of discussions during 2025 - and expects this to intensify in 2026 - with a number of other pharmaceutical companies located in various jurisdictions around the world. DHT technology is not only being discussed within the GLP-1 drug sector, but also for other applications where Lexaria has completed previous investigatory work (e.g., for DHT-CBD for hypertension where we are ideally seeking to achieve strategic partner funding support for prospective future development activities of this Company asset), and even for brand-new drug sectors where DHT has never before been utilized. These discussions are being held with companies ranging in size from smaller regional companies up to and including some of the largest pharmaceutical companies in the world.

Adhering to our internal policies, Lexaria does not generally issue news about business development ("BD") discussions. Since BD work is by its nature speculative, uncertain, and an ongoing process, it would be irresponsible or even reckless for us to comment on every phone call and every meeting we have with third parties. That said, we devote both internal human resources, as well as the engagement of third-party service providers in order to identify and reach out to companies we believe could be interested in our technology on a regular and ongoing basis.

Lexaria's management is grateful and pleased to have attracted the attention of several potential partners. Even so, our stakeholders should always remember that we cannot force the timelines nor the decisions of third parties, and that the evaluation processes of other companies can be quite arduous and lengthy. Lexaria is aggressive and nimble but the pharmaceutical industry is itself very thorough and tries to leave little, if anything, to chance; meaning it typically takes months or even years to form strong industry relationships after a wide array of scientific questions have been satisfactorily answered.

Funding:

The Company successfully raised a gross total of $9.5M over the course of three distinct transactions taking place in April, September, and December of 2025. Importantly, the last two of these transactions followed our fiscal year-end, August 31, 2025, at which time we had just $1.8M of cash remaining on-hand. Furthermore, as such, the Company had less than 12 months of cash on hand. This amount was insufficient to fully fund R&D activities through 2026. I and the rest of the management team hope you value the fact that we will not gamble the future of your Company away: our role is to always provide the best and most ample opportunities for value creation while avoiding catastrophic corporate failure such as is likely when a small company runs out of cash.

We acted in the best interest of shareholders by raising cash at stock high points in both September and December. In fact, the weighted average price of the gross total of the $7.5M raised over the last two transactions was $1.41/share. In comparison, our daily average closing price for the period May 1st through December 12th was ~$1.00/share. Said another way, the Company, in effect, raised funds at a $0.41/share or 41% premium to market as compared to the daily average closing price for the stated period. That is not a small achievement during a time when many companies in the biotech industry have gone out of business due to their inability to raise capital. The investment banking community continues to support Lexaria because they also see the great potential that our technology offers.

While dilution is never welcomed by shareholders - nor by us as managers - our options were limited and we opportunistically struck when the markets were favorable. We are a development stage company that needs to continuously test and iterate our formulations, and generate clinical data in an attempt to move the technology forward towards commercial viability. Our 2025 financings allow us to fund the prospective new development opportunities described above for the entirety of calendar 2026, some details of which we have disclosed within this letter, and final details that will be disclosed in due course.

Stock Price:

The weakness in Lexaria's stock price is extremely frustrating for your management team and, we know, for you as well. Indeed, it is perplexing to us given the overall positivity that we have achieved from our DHT investigatory work, and progress we are making with new and prospective commercial partners. We understand that our shareholders are unhappy with the stock performance this year and that some of you even may have sold some of your stock as result of that frustration.

That said, we have no choice but to drive our R&D programs forward and aggressively support potential partnership pursuits which can all be very time consuming and expensive; hence the need to always endeavor to find opportunistic ways to fund our operations while maximizing the attractiveness of deal terms. To whatever degree that our stock price weakness is connected to the dilution of issuing new equity to raise capital, we can only reiterate that we conducted that practice at the absolute best times possible (see above) in an effort to minimize the dilution associated with this necessary evil.

On the other hand, we feel we are in superb corporate shape to begin 2026. There is no urgency for us to finance in the short-term as our treasury is currently healthy. We are awaiting outcomes of potential commercial pursuits with our MTA partner, as well as with other, undisclosed potential commercial partners in the fields of GLP-1 and others. In addition, we have exciting new R&D under consideration and designed to continue advancing our commercial pursuits.

Directly as a result of our replenishing our corporate bank accounts in the last year, we also now have sufficient funding to enable us to carry out a national marketing campaign for a number of months during 2026. While we are not disclosing details of our marketing plans, we can provide that they will persist over a period of many months during the year with a budget in the mid 6-figure range. As a smaller company with impressive technology and intellectual property, it is important that we communicate extensively to our national and even international audiences.

I truly believe that our current stock price represents good value and offers an exciting opportunity to own a company with unbridled potential. In any case, we the management team remain steadfast in our efforts to reestablish and build value in 2026 by executing on our corporate strategy and continuing our goal of entering into a commercial agreement with one or more pharmaceutical companies in our quest to deliver exciting and transformative returns to all Lexaria stakeholders!

Summary/Closing:

I'm extremely proud of what the Lexaria team has been able to accomplish not only in my short 16-month tenure, but also long prior to my arrival. We've conducted a number of studies, generated a tremendous amount of data, and learned a lot about our technology since the Company expanded into GLP-1 back in 2023.

Over the course of now five human studies in GLP-1, we have evidenced that our DHT technology improves the ways in which active pharmaceutical ingredients enter the bloodstream, allowing for greater effectiveness, and reduced side effects consistent with our corporate mission. To that end, I'm compelled to summarize and share with you the dramatic impact that DHT has had on reducing the occurrence of AEs across these five human studies:

As I've stated many times, Lexaria is likely the only biotechnology company in existence that has demonstrated broad success utilizing three of the top GLP-1 drugs (semaglutide, tirzepatide, and liraglutide) in the world today.

We are executing on a multi-pronged commercialization strategy which includes:

  1. Producing compelling clinical data in an effort to attract and partner with pharmaceutical companies seeking the benefits of our DHT technology;

  2. Potential to develop and commercialize the world's first oral version of a leading GLP-1 drug, liraglutide, utilizing DHT;

  3. Potential to develop and commercialize a patented DHT-CBD product.

Our development plans for 2026, partially introduced above, are aimed at putting the capital raised during 2025 to work as we further execute on this strategy. We feel that DehydraTECH is more advanced today than at any point in the past, and that we are closer to a commercial breakthrough than ever before.

Thank you to the long-term shareholders who stood by the Company through a number of strategic pivots and capital raises which have brought us to this point, as well as welcome to the newer shareholders who have placed their faith and confidence in the hands of Lexaria. We do not take your loyalty lightly. Please be assured that we are committed to acting in your best interests as we drive towards expanded value creation in 2026.

I look forward to updating you on the Company's progress and to an extremely successful 2026!

Sincerely,

Richard Christopher
Chief Executive Officer
Lexaria Bioscience Corp.

About Lexaria Bioscience Corp. & DehydraTECH

DehydraTECHTM is Lexaria's patented drug delivery formulation and processing platform technology which improves the way a wide variety of drugs enter the bloodstream, always through oral delivery. DehydraTECH has repeatedly evidenced the ability to increase bio-absorption, reduce side-effects, and deliver some drugs more effectively across the blood brain barrier. Lexaria operates a licensed in-house research laboratory and holds a robust intellectual property portfolio with 56 patents granted and additional patents pending worldwide. For more information, please visit www.lexariabioscience.com.

CAUTION REGARDING FORWARD-LOOKING STATEMENTS

This press release includes forward-looking statements. Statements as such term is defined under applicable securities laws. These statements may be identified by words such as "anticipate," "if," "believe," "plan," "estimate," "expect," "intend," "may," "could," "should," "will," and other similar expressions. Such forward-looking statements in this press release include, but are not limited to, statements by the Company relating to the intended use of proceeds from the offering and relating to the Company's ability to carry out research initiatives, receive regulatory approvals or grants or experience positive effects or results from any research or study. Such forward-looking statements are estimates reflecting the Company's best judgment based upon current information and involve a number of risks and uncertainties, and there can be no assurance that the Company will actually achieve the plans, intentions, or expectations disclosed in these forward-looking statements. As such, you should not place undue reliance on these forward-looking statements. Factors which could cause actual results to differ materially from those estimated by the Company include, but are not limited to, market and other conditions, government regulation and regulatory approvals, managing and maintaining growth, the effect of adverse publicity, litigation, competition, scientific discovery, the patent application and approval process, potential adverse effects arising from the testing or use of products utilizing the DehydraTECH technology, the Company's ability to maintain existing collaborations and realize the benefits thereof, delays or cancellations of planned R&D that could occur related to pandemics or for other reasons, and other factors which may be identified from time to time in the Company's public announcements and periodic filings with the US Securities and Exchange Commission on EDGAR. The Company provides links to third-party websites only as a courtesy to readers and disclaims any responsibility for the thoroughness, accuracy or timeliness of information at third-party websites. There is no assurance that any of Lexaria's postulated uses, benefits, or advantages for the patented and patent-pending technology will in fact be realized in any manner or in any part. No statement herein has been evaluated by the Food and Drug Administration (FDA). Lexaria-associated products are not intended to diagnose, treat, cure or prevent any disease. Any forward-looking statements contained in this release speak only as of the date hereof, and the Company expressly disclaims any obligation to update any forward-looking statements or links to third-party websites contained herein, whether as a result of any new information, future events, changed circumstances or otherwise, except as otherwise required by law.

INVESTOR CONTACT:

George Jurcic - Head of Investor Relations
[email protected]
Phone: 250-765-6424, ext 202

SOURCE: Lexaria Bioscience Corp.



View the original press release on ACCESS Newswire

KELOWNA, BC / ACCESS Newswire / December 30, 2025 / Lexaria Bioscience Corp. (NASDAQ:LEXX)(NASDAQ:LEXXW) (the "Company" or "Lexaria"), a global innovator in drug delivery platforms, provides the following additional secondary and exploratory endpoint final results update on its Phase 1b, 12-week chronic study GLP-1-H24-4 (the "Study" or the "Lexaria Study"), recently completed in Australia, focusing on 4 DehydraTECH™ ("DHT") study arms relative to the Rybelsus® control study arm.

"We are pleased to report additional data from our first Phase 1b clinical study," stated Richard Christopher, CEO of Lexaria. "It adds to a growing dataset which showcases the many potential benefits of our platform technology - DehydraTECH."

"At our stage of development, clinical data is of paramount importance to us," continued Mr. Christopher. "Lexaria's "follow the science" approach and the positive results from this Study are already guiding our 2026 R&D plans as well as our business development initiatives. We are expecting exciting developments in 2026 and beyond."

Secondary Efficacy Parameters
At week 16, rough parity was reached between the DHT arms and the Rybelsus® control as there were no statistically significant treatment differences observed in terms of the numerical least squares means ("LSM") changes from baseline in the secondary efficacy parameters of mean fasting glucose, cholesterol, and low density lipoprotein ("LDL") cholesterol specifically (nominal p-values were >0.05).

Body Composition
While both DHT-semaglutide and Rybelsus® reduced body weight during the Study, it was noteworthy that upon a separate body composition analysis performed in the Study using the dual-energy, X-ray absorptiometry / Bioelectrical Impedance Analysis methodology, at week 12, the DHT semaglutide arm showed a modest numerical LSM reduction in fat mass of 1.08 kg and in total mass of 1.40 kg, accompanied by minimal reduction in lean mass of 0.41 kg. In contrast, the Rybelsus® control arm achieved greater LSM reductions in fat mass of 3.55 kg and in total mass of 5.36 kg, but also had a notably higher reduction in lean mass of 1.72 kg. This finding is considered intriguing as it possibly points to proportionally lower lean mass to fat mass bodyweight reduction potential being achievable with DHT-semaglutide (37.96% as compared to 48.45% for Rybelsus®).

Blood Pressure Analyses
While blood pressure analysis was not formally an efficacy endpoint of the Study, it was noteworthy that the DHT-cannabidiol ("DHT-CBD") arm achieved meaningful reductions in blood pressure. This is of special interest since the Study participants were not generally hypertensive (i.e., hypertension was not a recruitment requirement in this Study).

At week 4, a mean change of 4.6 mmHg in systolic blood pressure and 4.0 mmHg in diastolic blood pressure was evidenced in the DHT-CBD arm. Blood pressure reductions were also evident in this arm following completion of treatment at the week 16 follow up point (4 weeks after cessation of treatment) with a mean change of 2.6 mmHg in systolic blood pressure and 3.0 mmHg in diastolic blood pressure reported.

These findings are very encouraging relative to Lexaria's separate program interests in pursuing development of DHT-CBD for the treatment of hypertensive patients. Lexaria has earlier received FDA clearance to conduct a Phase 1b study to investigate this phenomenon more thoroughly.

Pharmacokinetic Exploratory Analyses
Blood plasma level analyses of CBD, semaglutide and tirzepatide were performed for all patients as applicable using a validated liquid chromatography mass spectrometry ("LCMS") assay. In the DHT CBD alone and DHT CBD with DHT semaglutide arms, plasma CBD concentrations were quantifiable through week 16. In the DHT-tirzepatide arm, plasma tirzepatide concentrations were quantifiable only through week 12, with the maximum plasma concentrations observed at week 8. Plasma semaglutide concentrations were not quantifiable in the DHT-semaglutide and DHT-CBD with DHT-semaglutide arms. This was believed to be due to unforeseen LCMS assay issues affecting blood plasma recovery and detection for DHT-delivered semaglutide, not applicable to the Rybelsus® delivered semaglutide. However, preliminary testing using a separately performed, enzyme-linked immunosorbent assay ("ELISA") upon a subset of patient blood plasma samples from these DHT arms did detect clearly recoverable/measurable semaglutide levels. Based on this, additional testing is in process on the full complement of patient blood plasma samples from these arms.

Short Form 36 Health Survey
The short form 36 health survey ("SF-36") is a widely administered questionnaire designed to allow persons to self-report their perceived health status assessing health-related quality of life parameters across eight domains (i.e., physical/role functioning, bodily pain, general health, vitality, mental health, social functioning). In this Study, participants were asked to complete the SF-36 upon the completion of dosing. Those participants in the Rybelsus® control Study arm reported modest mean improvements ranging from 2.39 to 4.35 points or no changes (neither worsening nor improving); whereas those participants receiving the DHT-semaglutide arm reported mean improvements of >5 points in the physical components and >3 points in the mental components.

It is not known specifically why the DHT-semaglutide participants self-reported better SF-36 survey results than the Rybelsus®-only participants, but it may be at least in part linked to the reduction in adverse events ("AE's"), as noted in our December 23, 2025 press release.

Overall Conclusions and Next Steps
As previously announced, study GLP-1-H24-4 met its primary endpoint objectives showing good safety and tolerability of all DHT test articles with clear reductions in total and gastrointestinal ("GI")-specific AEs relative to the Rybelsus® control arm. The Study demonstrated positive findings across numerous parameters with comparability, and in some instances, superiority to the Rybelsus® control arm.

Shareholders and interested parties should note that the final and complete Study report is in excess of 7,000 pages long. When Lexaria communicates that a great deal of information must be reviewed prior to this public dissemination or via partner review, the enormity of this data set should always be considered.

Based on the findings from this Study, Lexaria considers the DHT-semaglutide test article to be most worthy of continued investigation for the therapeutic indication studied. However, it would seem most prudent for any such work to include the salcaprozate sodium ("SNAC") ingredient chemistry present in Lexaria's DHT-semaglutide formulations originally tested in its previous human clinical studies GLP-1-H24-1 and GLP-1-H24-2, (Human Pilot Studies #1 and #2), but not included in the current Study. These previous human clinical studies evidenced the strongest DHT-semaglutide efficacy performance superior to the Rybelsus® control used therein, while also maintaining improvements in safety and tolerability relatively speaking with the DHT-semaglutide formulation studied.

Moving forward, Lexaria intends to consider its options to perform prospective follow on human clinical testing with a DHT + SNAC + semaglutide composition compared to Rybelsus® accordingly, to expand and build upon the learnings in aggregate from studies GLP-1-H24-1, GLP-1-H24-2 and GLP-1-H24-4. Details will be provided on this if/when Lexaria formalizes plans to perform such a study.

In parallel, now that public release of final results from study GLP-1-H24-4 has occurred, Lexaria is taking steps to proceed with relaying the dataset to the pharmaceutical company ("PharmaCo") that Lexaria has a Material Transfer Agreement ("MTA") in place with. As previously announced, this MTA was recently extended through April 30, 2026 to accommodate time needed for PharmaCo's receipt and review of this dataset, after which time further information will be provided.

Lexaria remains hopeful that achievement of its primary endpoint in the current Study, with DHT evidencing superior safety and tolerability and a significant reduction in GI side effects especially relative to Rybelsus®, will be considered attractive and compelling to PharmaCo in its deliberations about potential next steps in its relationship with Lexaria. This would be consistent with the pharmaceutical industry's strong appetite in the related therapeutic sectors for improvements in unwanted side effects as Lexaria previously reported.

Lexaria was pleased to have recently raised additional capital through financings intended to allow it to fund prospective new development opportunities through the entirety of calendar 2026; the details of which are in the process of being finalized and will be forthcoming in due course. Deployment of these funds may include, but not be limited to, progressing its prospective further human clinical testing upon DHT + SNAC + semaglutide as noted above, as well as supporting other complementary research and development program work in the Glucagon-Like Peptide-1 ("GLP-1") sector.

About the Study
Study GLP-1-H24-4 investigated 126 overweight, obese, pre-diabetic and/or type-2 diabetic human volunteers/patients. The primary endpoint in this study was to assess impacts upon safety and tolerability based on the incidence of treatment emergent adverse events. This Study initially included 3 DHT arms testing DHT-CBD, DHT-semaglutide and a combination of DHT-CBD with DHT-semaglutide. Performance across these three initial study arms was monitored compared to commercially available Rybelsus® as the Study positive control group. Of note, the DHT-semaglutide composition evaluated used pure semaglutide processed without inclusion of the SNAC ingredient found in the Rybelsus® composition differing, therefore, from the DHT-semaglutide composition previously tested by Lexaria in its studies GLP-1-H24-1 and GLP-1-H24-2 that used reformulated commercially available SNAC-inclusive Rybelsus® as the semaglutide active substance input. In addition, this Study was expanded after initiation to incorporate an orally delivered DHT-tirzepatide arm to assess safety, tolerability and effectiveness in an effort to potentially advance the findings discovered with Lexaria's previous DHT-tirzepatide human pilot study GLP-1-H24-3. Of note, however, the DHT-tirzepatide composition evaluated in study GLP-1-H24-4 used pure tirzepatide as the active substance input instead of reformulated commercially available Zepbound® differing, therefore, compared to the composition utilized in study GLP-1-H24-3.

About Lexaria Bioscience Corp. & DehydraTECH
DehydraTECH™ is Lexaria's patented drug delivery formulation and processing platform technology which improves the way a wide variety of drugs enter the bloodstream, always through oral delivery. DehydraTECH has repeatedly evidenced the ability to increase bio-absorption, reduce side-effects, and deliver some drugs more effectively across the blood brain barrier. Lexaria operates a licensed in-house research laboratory and holds a robust intellectual property portfolio with over 50 patents granted and additional patents pending worldwide. For more information, please visit www.lexariabioscience.com.

CAUTION REGARDING FORWARD-LOOKING STATEMENTS
This press release includes forward-looking statements. Statements as such term is defined under applicable securities laws. These statements may be identified by words such as "anticipate," "if," "believe," "plan," "estimate," "expect," "intend," "may," "could," "should," "will," and other similar expressions. Such forward-looking statements in this press release include, but are not limited to, statements by the Company relating to the Company's ability to carry out research initiatives, receive regulatory approvals or grants or experience positive effects or results from any research or study. Such forward-looking statements are estimates reflecting the Company's best judgment based upon current information and involve a number of risks and uncertainties, and there can be no assurance that the Company will actually achieve the plans, intentions, or expectations disclosed in these forward-looking statements. As such, you should not place undue reliance on these forward-looking statements. Factors which could cause actual results to differ materially from those estimated by the Company include, but are not limited to, government regulation and regulatory approvals, managing and maintaining growth, the effect of adverse publicity, litigation, competition, scientific discovery, the patent application and approval process, potential adverse effects arising from the testing or use of products utilizing the DehydraTECH technology, the Company's ability to maintain existing collaborations and realize the benefits thereof, delays or cancellations of planned R&D that could occur related to pandemics or for other reasons, and other factors which may be identified from time to time in the Company's public announcements and periodic filings with the US Securities and Exchange Commission on EDGAR. The Company provides links to third-party websites only as a courtesy to readers and disclaims any responsibility for the thoroughness, accuracy or timeliness of information at third-party websites. There is no assurance that any of Lexaria's postulated uses, benefits, or advantages for the patented and patent-pending technology will in fact be realized in any manner or in any part. No statement herein has been evaluated by the Food and Drug Administration (FDA). Lexaria-associated products are not intended to diagnose, treat, cure or prevent any disease. Any forward-looking statements contained in this release speak only as of the date hereof, and the Company expressly disclaims any obligation to update any forward-looking statements or links to third-party websites contained herein, whether as a result of any new information, future events, changed circumstances or otherwise, except as otherwise required by law.

INVESTOR CONTACT:
George Jurcic - Head of Investor Relations
[email protected]
Phone: 250-765-6424, ext 202

SOURCE: Lexaria Bioscience Corp.



View the original press release on ACCESS Newswire

  • DehydraTECH-semaglutide reduced overall side effects by 48% as compared to Rybelsus®

  • DehydraTECH-semaglutide reduced gastrointestinal side effects by 55% as compared to Rybelsus®

  • Recent financings create runway for prospective new 2026 development opportunities

KELOWNA, BC / ACCESS Newswire / December 23, 2025 / Lexaria Bioscience Corp. (Nasdaq:LEXX)(Nasdaq:LEXXW) (the "Company" or "Lexaria"), a global innovator in drug delivery platforms, provides the following final primary and major secondary efficacy endpoint results update on its Phase 1b, 12-week chronic study GLP-1-H24-4 (the " Study " or the " Lexaria Study "), recently completed in Australia, focusing on 4 DehydraTECH ® ( "DHT" ) study arms relative to the Rybelsus® control study arm.

"We are extremely pleased to not only have successfully achieved our primary endpoint," stated Richard Christopher, CEO of Lexaria, "but to have also demonstrated obvious superiority in reducing unwanted side effects by as much as approximately half as compared to the world's only approved oral-based GLP-1 medication, Rybelsus ® . The receipt of the results allows us to now relay the dataset to our Material Transfer Agreement partner."

"The final study results follow our recent financing activities," Mr. Christopher continued. "We are thrilled to have opportunistically raised a gross total of $7.5 million over two transactions, each at share price high points at the time, since our fiscal year-ended on August 31, 2025. As previously reported, we had limited resources remaining ($1.8 million in cash on hand as of August 31, 2025) which hindered our ability and runway to proceed forward with our DehydraTECH research and partnering efforts. The financings allow us to fund prospective new development opportunities for the entirety of calendar 2026, the details of which are in the process of being finalized and will be forthcoming in due course."

Adverse Events

After the full 12 weeks of treatment, followed by a 4-week follow-up period (16-week study duration overall), all 4 DHT test articles appeared to be safe and well tolerated thus meeting the primary endpoint objective of the Study. Each of the DHT arms had lower rates of overall treatment emergent adverse events (" AEs ") and gastrointestinal (" GI ") AEs compared to the Rybelsus ® control arm:

GLP-1-H24

EOS Results

DHT-CBD

250 mg BID x 12 weeks

(Arm 1; n=27)

DHT-semaglutide

3.5 mg QD x 4 weeks followed by 7 mg QD x 8 weeks

(Arm 2; n=24)

DHT-CBD 250 mg BID with DHT-semaglutide 3.5 mg QD x 12 weeks

(Arm 3; n=25)

Rybelsus ®

3 mg QD x 4 weeks followed by 7 mg QD x 8 weeks

(Arm 4; n = 25)
(Study Control Arm)

DHT-tirzepatide

20 mg QD x 4 weeks followed by 40 mg x 8 weeks

(Arm 5; n=25)

Persons with at least 1 AE

88.9%

83.3%

92.0%

100%

76.0%

Total AEs

105

73

86

140

128

Total AEs as a % of Control

75.0%

52.1%

61.4%

N/A

91.4%

Total GI AEs

21

32

31

71

28

GI AEs as a % of Control

29.6%

45.1%

43.7%

N/A

39.4%

Nausea

6

10

3

21

3

Vomiting

0

2

2

6

0

Diarrhea

7

6

10

15

12

All other GI AEs

8

14

16

29

13

n = number of patients included in each study group for safety and tolerability assessments

Abbreviations: EOS: End of Study (week 16); BID: twice daily; CBD: cannabidiol; QD: once daily.

Of the DHT formulations evaluated, DehydraTECH-semaglutide (" DHT-semaglutide ") was the top performer in total AE reductions. There was a 47.9% reduction in the total quantity of AEs derived from DHT-semaglutide vs. Rybelsus ® . There was also a statistically significant (nominal p-value <0.05) 54.9% reduction in GI AEs from DHT-semaglutide vs. Rybelsus®. It should be noted that the DHT-semaglutide AE percent reductions were higher at the end of the Study than they were at the 8-week interim analysis mark previously reported upon .

It is also noteworthy that there were marked reductions in GI AEs for all 4 DHT treatment arms relative to Rybelsus ® , most notably in the instances of nausea, vomiting and diarrhea.

HbA1c and Bodyweight

Assessments of the magnitude of decreases in glycated haemoglobin (" HbA1c "), as a primary blood test for blood sugar levels, and body weight were the major secondary efficacy endpoints of the Study. The findings for each variable at both the week 12 and week 16 points were as follows:

GLP-1-H24

12-week and EOS

Results

DHT-CBD

250 mg BID x 12 weeks

(Arm 1; n=27)

DHT-semaglutide

3.5 mg QD x 4 weeks followed by 7 mg QD x 8 weeks

(Arm 2; n=24)

DHT-CBD 250 mg BID with DHT-semaglutide 3.5 mg QD x 12 weeks

(Arm 3; n=25)

Rybelsus ®

3 mg QD x 4 weeks followed by 7 mg QD x 8 weeks

(Arm 4; n = 25)
(Study Control Arm)

DHT-tirzepatide

20 mg QD x 4 weeks followed by 40 mg x 8 weeks

(Arm 5; n=25)

HbA1c

Wk 12

-0.08%

(range -0.4 to +0.3%)

Wk 12

-0.12%

(range -0.9 to +0.3%)

Wk 12

-0.05% b

(range -0.5 to +0.3%)

Wk 12

-0.24%

(range -0.6 to +0.4%)

Wk 12

+0.07% b

(range -0.7 to +0.6%)

EOS Wk 16

+0.01% b

(range -0.3 to +0.2%)

EOS Wk 16

-0.08%

(range -0.5 to +0.3%)

EOS Wk 16

+0.03% b

(range -0.3 to +0.4%)

EOS Wk 16

-0.14%

(range -0.4 to +0.3%)

EOS Wk 16

+0.12% b

(range -0.8 to +0.5%)

Bodyweight

Wk 12

+0.06 Kg or

-0.13% b

(range -4.3 to +5.9 Kg)

Wk 12

-0.87 Kg or

-0.94% b

(range -7.4 to +5.0 Kg)

Wk 12

-0.90 Kg or

-0.93% b

(range -6.8 to +4.2 Kg)

Wk 12

-5.29 Kg or

-5.45%

(range -12.4 to -0.1 Kg)

Wk 12

+0.67 Kg or +0.69% b

(range -10.1 to +10.3 Kg)

EOS Wk 16

+0.77 Kg or +0.68% b

(range -7.7 to +4.2 Kg)

EOS Wk 16

-1.20 Kg or

-1.31% b

(range -8.7 to +6.1 Kg)

EOS Wk 16

-0.59 Kg or

-0.65% b

(range -7.4 to +5.3 Kg)

EOS Wk 16

-4.95 Kg or

-5.14%

(range -11.8 to +2.5 Kg)

EOS Wk 16

+0.77 Kg or +0.82% b

(range -11.6 to +8.8 Kg)

n = number of patients included in each study group for HbA1c and body weight efficacy assessments

Abbreviations: EOS: End of Study (week 16); Wk: week; BID: twice daily; CBD: cannabidiol; QD: once daily.

b Instances where nominal p-values were < 0.05 for least-square mean changes relative to Rybelsus ® control arm upon mixed model for repeated measures (MMRM) analysis

The DHT-semaglutide formulation was, again, the top performing DHT composition as compared to the Rybelsus ® control upon these efficacy analyses. For the primary efficacy endpoint of HbA1c reduction, the percent reduction achieved was insignificantly different statistically (p > 0.05) than that of Rybelsus ® , meaning that performance was considered comparable between the two test articles. Of note, evidence suggests that even small reductions in HbA1c can improve cardiovascular outcomes in overweight or obese individuals without diabetes, similar to the population in this Study.

The bodyweight reduction performance, on the other hand, was improved for the Rybelsus ® control arm versus all DHT arms at both the week 12 and week 16 evaluations, as was also witnessed at the 8-week interim analysis timepoint previously reported. Of note, a comparison to published Rybelsus ® bodyweight reduction performance levels in Novo Nordisk's ® Pioneer 1 phase 3a randomized study conducted in 703 patients with type 2 diabetes, with similar daily doses of Rybelsus ® semaglutide administered after 26 weeks of dosing, revealed much lower bodyweight reduction performance which was comparable to that achieved with DHT-semaglutide in the current Study:

Pioneer 1: 26-Week Final Results

3 mg Rybelsus®

7 mg

Rybelsus®

14 mg

Rybelsus®

Body Weight

Baseline = 88.1kg

-1.32 kg or

-1.5%

-2.02 kg or

-2.3%

-3.26 kg or

-3.7%

The reasons for the apparent anomaly of exceptionally high Rybelsus ® bodyweight performance levels in the current Study are presently unknown, but likely related to the differing patient population and/or small sample size of the Lexaria Study, where it is notable that the range as tabulated above in bodyweight reductions was wide for all arms in the Lexaria Study. The historical studies conducted in thousands of persons are more likely to be representative of real-world performance.

Overall Conclusions and Next Steps

Study GLP-1-H24-4 met its primary endpoint objectives showing good safety and tolerability of all DHT test articles with clear reductions in total and GI-specific AEs relative to the Rybelsus ® control arm. The Study demonstrated positive findings across numerous parameters with comparability, and in some instances, superiority to the Rybelsus ® control arm.

Based on the findings from this Study, Lexaria considers the DHT-semaglutide test article to be most worthy of continued investigation for the therapeutic indication studied. However, it would seem most prudent for any such work to include the salcaprozate sodium ( "SNAC" ) ingredient chemistry present in Lexaria's DHT-semaglutide formulations originally tested in its previous human clinical studies GLP-1-H24-1 and GLP-1-H24-2 , (Human Pilot Studies #1 and #2), but not included in the current Study. These previous human clinical studies evidenced the strongest DHT-semaglutide efficacy performance superior to the Rybelsus ® control used therein, while also maintaining improvements in safety and tolerability relatively speaking with the DHT-semaglutide formulation studied.

Moving forward, Lexaria intends to consider its options to perform prospective follow on human clinical testing with a DehydraTECH + SNAC + semaglutide composition compared to Rybelsus ® accordingly, to expand and build upon the learnings in aggregate from studies GLP-1-H24-1, GLP-1-H24-2 and GLP-1-H24-4. Details will be provided on this if/when Lexaria formalizes plans to perform such a study.

In parallel, now that public release of final results from study GLP-1-H24-4 has occurred, Lexaria will proceed with relaying the dataset to the pharmaceutical company ( "PharmaCo" ) that Lexaria has a Material Transfer Agreement ( "MTA" ) in place with. As previously announced , this MTA was recently extended through April 30, 2026 to accommodate the time needed for PharmaCo's receipt and review of this dataset, after which time further information will be provided.

Lexaria remains hopeful that achievement of its primary endpoint in the current Study, with DehydraTECH evidencing superior safety and tolerability and a significant reduction in GI side effects especially relative to Rybelsus ® , will be considered attractive and compelling to PharmaCo in its deliberations about potential next steps in its relationship with Lexaria. This would be consistent with the pharmaceutical industry's strong appetite in the related therapeutic sectors for improvements in unwanted side effects as Lexaria previously reported .

As noted above, Lexaria was pleased to have recently raised additional capital through financings intended to allow it to fund prospective new development opportunities through the entirety of calendar 2026; the details of which are in the process of being finalized and will be forthcoming in due course. Deployment of these funds may include, but not be limited to, progressing its prospective further human clinical testing upon DehydraTECH + SNAC + semaglutide as noted above, as well as, supporting other complementary research and development program work in the Glucagon-Like Peptide-1 ( "GLP-1" ) sector.

About the Study

Study GLP-1-H24-4 investigated 126 overweight, obese, pre-diabetic and/or type-2 diabetic human volunteers/patients. The primary endpoint in this study was to assess impacts upon safety and tolerability based on the incidence of treatment emergent adverse events. This Study initially included three DehydraTECH arms testing DehydraTECH-CBD, DehydraTECH-semaglutide and a combination of DehydraTECH-CBD with DehydraTECH-semaglutide. Performance across these three initial study arms was monitored compared to commercially available Rybelsus ® as the Study positive control group. Of note, the DehydraTECH-semaglutide composition evaluated used pure semaglutide processed without inclusion of the SNAC ingredient found in the Rybelsus ® composition differing, therefore, from the DehydraTECH-semaglutide composition previously tested by Lexaria in its studies GLP-1-H24-1 and GLP-1-H24-2 that used reformulated commercially available SNAC-inclusive Rybelsus ® as the semaglutide active substance input. In addition, this Study was expanded after initiation to incorporate an orally delivered DehydraTECH-tirzepatide arm to assess safety, tolerability and effectiveness in an effort to potentially advance the findings discovered with Lexaria's previous DehydraTECH-tirzepatide human pilot study GLP-1-H24-3. Of note, however, the DehydraTECH-tirzepatide composition evaluated in study GLP-1-H24-4 used pure tirzepatide as the active substance input instead of reformulated commercially available Zepbound ® differing, therefore, compared to the composition utilized in study GLP-1-H24-3.

In an attempt to accommodate the large amount of data captured in study GLP-1-H24-4, additional non-primary (secondary/exploratory) endpoint results are expected to be released next week.

CAUTION REGARDING FORWARD-LOOKING STATEMENTS

This press release includes forward-looking statements. Statements as such term is defined under applicable securities laws. These statements may be identified by words such as "anticipate," "if," "believe," "plan," "estimate," "expect," "intend," "may," "could," "should," "will," and other similar expressions. Such forward-looking statements in this press release include, but are not limited to, statements by the Company relating to the intended use of proceeds from the offering and relating to the Company's ability to carry out research initiatives, receive regulatory approvals or grants or experience positive effects or results from any research or study. Such forward-looking statements are estimates reflecting the Company's best judgment based upon current information and involve a number of risks and uncertainties, and there can be no assurance that the Company will actually achieve the plans, intentions, or expectations disclosed in these forward-looking statements. As such, you should not place undue reliance on these forward-looking statements. Factors which could cause actual results to differ materially from those estimated by the Company include, but are not limited to, market and other conditions, government regulation and regulatory approvals, managing and maintaining growth, the effect of adverse publicity, litigation, competition, scientific discovery, the patent application and approval process, potential adverse effects arising from the testing or use of products utilizing the DehydraTECH technology, the Company's ability to maintain existing collaborations and realize the benefits thereof, delays or cancellations of planned R&D that could occur related to pandemics or for other reasons, and other factors which may be identified from time to time in the Company's public announcements and periodic filings with the US Securities and Exchange Commission on EDGAR. The Company provides links to third-party websites only as a courtesy to readers and disclaims any responsibility for the thoroughness, accuracy or timeliness of information at third-party websites. There is no assurance that any of Lexaria's postulated uses, benefits, or advantages for the patented and patent-pending technology will in fact be realized in any manner or in any part. No statement herein has been evaluated by the Food and Drug Administration (FDA). Lexaria-associated products are not intended to diagnose, treat, cure or prevent any disease. Any forward-looking statements contained in this release speak only as of the date hereof, and the Company expressly disclaims any obligation to update any forward-looking statements or links to third-party websites contained herein, whether as a result of any new information, future events, changed circumstances or otherwise, except as otherwise required by law.

INVESTOR CONTACT:

George Jurcic - Head of Investor Relations
[email protected]
Phone: 250-765-6424, ext 202

SOURCE: Lexaria Bioscience Corp.



View the original press release on ACCESS Newswire

KELOWNA, BC / ACCESS Newswire / December 16, 2025 / Lexaria Bioscience Corp. (NASDAQ:LEXX, LEXXW) (the "Company" or "Lexaria"), a global innovator in drug delivery platforms, today announced the closing of its previously announced registered direct offering priced at-the-market under Nasdaq rules of an aggregate of 2,661,600 shares of its common stock, par value $0.001 per share, at a purchase price of $1.315 per share. In addition, in a concurrent private placement, the Company issued unregistered warrants to purchase up to 2,661,600 shares of common stock. The warrants have an exercise price of $1.19 per share, are immediately exercisable and will expire five years from the date of the effectiveness of the resale registration statement registering the shares of common stock issuable upon exercise of the unregistered warrants.

H.C. Wainwright & Co. acted as the exclusive placement agent for the offering.

The aggregate gross proceeds to the Company from the offering were approximately $3.5 million, before deducting the placement agent fees and other offering expenses payable by the Company. The Company currently intends to use the net proceeds from the offering to advance its research and development efforts, fund working capital and for other general corporate purposes.

The shares of common stock (but not the warrants issued in the private placement or the shares of common stock underlying such warrants) were offered by the Company pursuant to a "shelf" registration statement on Form S-3 (File No. 333-284407) that was declared effective by the Securities and Exchange Commission (the "SEC") on January 30, 2025. The registered direct offering of the shares of common stock was made only by means of a prospectus, including a prospectus supplement, forming a part of the effective registration statement. The prospectus supplement and the accompanying prospectus relating to the securities being offered in the registered direct offering were filed with the SEC and are available at the SEC's website at www.sec.gov. Electronic copies of the prospectus supplement and the accompanying prospectus relating to the registered direct offering may also be obtained by contacting H.C. Wainwright & Co., LLC at 430 Park Avenue, 3rd Floor, New York, NY 10022, by telephone at (212) 856-5711 or e-mail at [email protected].

The warrants described above were issued in a concurrent private placement under Section 4(a)(2) of the Securities Act of 1933, as amended (the "Securities Act"), and Regulation D promulgated thereunder and, along with the shares of common stock underlying the warrants, have not been registered under the Securities Act, or applicable state securities laws. Accordingly, the warrants and underlying shares of common stock may not be offered or sold in the United States except pursuant to an effective registration statement or an applicable exemption from the registration requirements of the Securities Act and such applicable state securities laws.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy any of the securities described herein, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or jurisdiction.

About Lexaria Bioscience Corp. & DehydraTECH

DehydraTECH™ is Lexaria's patented drug delivery formulation and processing platform technology which improves the way a wide variety of drugs enter the bloodstream, always through oral delivery. DehydraTECH has repeatedly evidenced the ability to increase bio-absorption, reduce side-effects, and deliver some drugs more effectively across the blood brain barrier. Lexaria operates a licensed in-house research laboratory and holds a robust intellectual property portfolio with 56 patents granted and additional patents pending worldwide. For more information, please visit www.lexariabioscience.com.

CAUTION REGARDING FORWARD-LOOKING STATEMENTS

This press release includes forward-looking statements. Statements as such term is defined under applicable securities laws. These statements may be identified by words such as "anticipate," "if," "believe," "plan," "estimate," "expect," "intend," "may," "could," "should," "will," and other similar expressions. Such forward-looking statements in this press release include, but are not limited to, statements by the Company relating to the intended use of proceeds from the offering and relating to the Company's ability to carry out research initiatives, receive regulatory approvals or grants or experience positive effects or results from any research or study. Such forward-looking statements are estimates reflecting the Company's best judgment based upon current information and involve a number of risks and uncertainties, and there can be no assurance that the Company will actually achieve the plans, intentions, or expectations disclosed in these forward-looking statements. As such, you should not place undue reliance on these forward-looking statements. Factors which could cause actual results to differ materially from those estimated by the Company include, but are not limited to, market and other conditions, government regulation and regulatory approvals, managing and maintaining growth, the effect of adverse publicity, litigation, competition, scientific discovery, the patent application and approval process, potential adverse effects arising from the testing or use of products utilizing the DehydraTECH technology, the Company's ability to maintain existing collaborations and realize the benefits thereof, delays or cancellations of planned R&D that could occur related to pandemics or for other reasons, and other factors which may be identified from time to time in the Company's public announcements and periodic filings with the US Securities and Exchange Commission on EDGAR. The Company provides links to third-party websites only as a courtesy to readers and disclaims any responsibility for the thoroughness, accuracy or timeliness of information at third-party websites. There is no assurance that any of Lexaria's postulated uses, benefits, or advantages for the patented and patent-pending technology will in fact be realized in any manner or in any part. No statement herein has been evaluated by the Food and Drug Administration (FDA). Lexaria-associated products are not intended to diagnose, treat, cure or prevent any disease. Any forward-looking statements contained in this release speak only as of the date hereof, and the Company expressly disclaims any obligation to update any forward-looking statements or links to third-party websites contained herein, whether as a result of any new information, future events, changed circumstances or otherwise, except as otherwise required by law.

INVESTOR CONTACT:

George Jurcic - Head of Investor Relations
[email protected]
Phone: 250-765-6424, ext 202

SOURCE: Lexaria Bioscience Corp.



View the original press release on ACCESS Newswire

KELOWNA, BC / ACCESS Newswire / December 15, 2025 / Lexaria Bioscience Corp. (NASDAQ:LEXX)(LEXXW) (the "Company" or "Lexaria"), a global innovator in drug delivery platforms, today announced that it has entered into a definitive agreement for the purchase and sale of an aggregate of 2,661,600 shares of its common stock, par value $0.001 per share, at a purchase price of $1.315 per share in a registered direct offering priced at-the-market under Nasdaq rules. In addition, in a concurrent private placement, the Company will issue unregistered warrants to purchase up to 2,661,600 shares of common stock. The warrants will have an exercise price of $1.19 per share, will be immediately exercisable and will expire five years from the date of the effectiveness of the resale registration statement registering the shares of common stock issuable upon exercise of the unregistered warrants. The closing of the offering is expected to occur on or about December 16, 2025, subject to the satisfaction of customary closing conditions.

H.C. Wainwright & Co. is acting as the exclusive placement agent for the offering.

The aggregate gross proceeds to the Company from the offering are expected to be approximately $3.5 million, before deducting the placement agent fees and other offering expenses payable by the Company. The Company currently intends to use the net proceeds from the offering to advance its research and development efforts, fund working capital and for other general corporate purposes.

The shares of common stock (but not the warrants issued in the private placement or the shares of common stock underlying such warrants) are being offered by the Company pursuant to a "shelf" registration statement on Form S-3 (File No. 333-284407) that was declared effective by the Securities and Exchange Commission (the "SEC") on January 30, 2025. The registered direct offering of the shares of common stock is being made only by means of a prospectus, including a prospectus supplement, forming a part of the effective registration statement. The prospectus supplement and the accompanying prospectus relating to the securities being offered in the registered direct offering will be filed with the SEC and be available at the SEC's website at www.sec.gov. Electronic copies of the prospectus supplement and the accompanying prospectus relating to the registered direct offering may also be obtained, when available, by contacting H.C. Wainwright & Co., LLC at 430 Park Avenue, 3rd Floor, New York, NY 10022, by telephone at (212) 856-5711 or e-mail at [email protected].

The warrants described above are being issued in a concurrent private placement under Section 4(a)(2) of the Securities Act of 1933, as amended (the "Securities Act"), and Regulation D promulgated thereunder and, along with the shares of common stock underlying the warrants, have not been registered under the Securities Act, or applicable state securities laws. Accordingly, the warrants and underlying shares of common stock may not be offered or sold in the United States except pursuant to an effective registration statement or an applicable exemption from the registration requirements of the Securities Act and such applicable state securities laws.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy any of the securities described herein, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or jurisdiction.

About Lexaria Bioscience Corp. & DehydraTECH

DehydraTECH™ is Lexaria's patented drug delivery formulation and processing platform technology which improves the way a wide variety of drugs enter the bloodstream, always through oral delivery. DehydraTECH has repeatedly evidenced the ability to increase bio-absorption, reduce side-effects, and deliver some drugs more effectively across the blood brain barrier. Lexaria operates a licensed in-house research laboratory and holds a robust intellectual property portfolio with 56 patents granted and additional patents pending worldwide. For more information, please visit www.lexariabioscience.com.

CAUTION REGARDING FORWARD-LOOKING STATEMENTS

This press release includes forward-looking statements. Statements as such term is defined under applicable securities laws. These statements may be identified by words such as "anticipate," "if," "believe," "plan," "estimate," "expect," "intend," "may," "could," "should," "will," and other similar expressions. Such forward-looking statements in this press release include, but are not limited to, statements by the Company relating to the completion of the offering, the satisfaction of customary closing conditions related to the offering, the intended use of proceeds from the offering and relating to the Company's ability to carry out research initiatives, receive regulatory approvals or grants or experience positive effects or results from any research or study. Such forward-looking statements are estimates reflecting the Company's best judgment based upon current information and involve a number of risks and uncertainties, and there can be no assurance that the Company will actually achieve the plans, intentions, or expectations disclosed in these forward-looking statements. As such, you should not place undue reliance on these forward-looking statements. Factors which could cause actual results to differ materially from those estimated by the Company include, but are not limited to, market and other conditions, government regulation and regulatory approvals, managing and maintaining growth, the effect of adverse publicity, litigation, competition, scientific discovery, the patent application and approval process, potential adverse effects arising from the testing or use of products utilizing the DehydraTECH technology, the Company's ability to maintain existing collaborations and realize the benefits thereof, delays or cancellations of planned R&D that could occur related to pandemics or for other reasons, and other factors which may be identified from time to time in the Company's public announcements and periodic filings with the US Securities and Exchange Commission on EDGAR. The Company provides links to third-party websites only as a courtesy to readers and disclaims any responsibility for the thoroughness, accuracy or timeliness of information at third-party websites. There is no assurance that any of Lexaria's postulated uses, benefits, or advantages for the patented and patent-pending technology will in fact be realized in any manner or in any part. No statement herein has been evaluated by the Food and Drug Administration (FDA). Lexaria-associated products are not intended to diagnose, treat, cure or prevent any disease. Any forward-looking statements contained in this release speak only as of the date hereof, and the Company expressly disclaims any obligation to update any forward-looking statements or links to third-party websites contained herein, whether as a result of any new information, future events, changed circumstances or otherwise, except as otherwise required by law.

INVESTOR CONTACT:

George Jurcic - Head of Investor Relations
[email protected]
Phone: 250-765-6424, ext 202

SOURCE: Lexaria Bioscience Corp.



View the original press release on ACCESS Newswire

KELOWNA, BC / ACCESS Newswire / November 12, 2025 / Lexaria Bioscience Corp. (Nasdaq:LEXX)(Nasdaq:LEXXW) (the "Company" or "Lexaria"), a global innovator in drug delivery platforms, provides this update on the Material Transfer Agreement ("MTA") originally entered into on September 4, 2024 with a pharmaceutical company ("PharmaCO") to evaluate Lexaria's DehydraTECHTM technology in a pre-clinical setting.

The original agreement has been extended through April 30, 2026, to accommodate time needed for PharmaCO's receipt and review of the full dataset from Lexaria's Australian study, at which time further information will be provided. This allows the two parties to continue their relationship under the MTA, keep the temporary exclusive license active and in force, and contemplate additional strategic planning discussions with PharmaCO's human clinical development team.

Earlier in 2025, initial pre-clinical studies covered by the MTA, which examined pharmacokinetics in animals, had been completed. At that time, Lexaria had been informed by PharmaCO that they wished to review the pending safety (adverse events), pharmacokinetic and efficacy data from Lexaria's independent, Australian human clinical study GLP-1-H24-4, which is currently at the stage of full sample and data analyses as previously announced. Lexaria expects to release the final results of the Australian study when available, which is currently projected to be before the end of the fourth quarter of calendar 2025.

About Lexaria Bioscience Corp. & DehydraTECH

DehydraTECH™ is Lexaria's patented drug delivery formulation and processing platform technology which improves the way a wide variety of drugs enter the bloodstream, always through oral delivery. DehydraTECH has repeatedly evidenced the ability to increase bio-absorption, reduce side-effects, and deliver some drugs more effectively across the blood brain barrier. Lexaria operates a licensed in-house research laboratory and holds a robust intellectual property portfolio with 54 patents granted and additional patents pending worldwide. For more information, please visit www.lexariabioscience.com.

CAUTION REGARDING FORWARD-LOOKING STATEMENTS

This press release includes forward-looking statements. Statements as such term is defined under applicable securities laws. These statements may be identified by words such as "anticipate," "if," "believe," "plan," "estimate," "expect," "intend," "may," "could," "should," "will," and other similar expressions. Such forward-looking statements in this press release include, but are not limited to, statements by the Company relating to use of proceeds from the offering and relating to the Company's ability to carry out research initiatives, receive regulatory approvals or grants or experience positive effects or results from any research or study. Such forward-looking statements are estimates reflecting the Company's best judgment based upon current information and involve a number of risks and uncertainties, and there can be no assurance that the Company will actually achieve the plans, intentions, or expectations disclosed in these forward-looking statements. As such, you should not place undue reliance on these forward-looking statements. Factors which could cause actual results to differ materially from those estimated by the Company include, but are not limited to, market and other conditions, government regulation and regulatory approvals, managing and maintaining growth, the effect of adverse publicity, litigation, competition, scientific discovery, the patent application and approval process, potential adverse effects arising from the testing or use of products utilizing the DehydraTECH technology, the Company's ability to maintain existing collaborations and realize the benefits thereof, delays or cancellations of planned R&D that could occur related to pandemics or for other reasons, and other factors which may be identified from time to time in the Company's public announcements and periodic filings with the US Securities and Exchange Commission on EDGAR. The Company provides links to third-party websites only as a courtesy to readers and disclaims any responsibility for the thoroughness, accuracy or timeliness of information at third-party websites. There is no assurance that any of Lexaria's postulated uses, benefits, or advantages for the patented and patent-pending technology will in fact be realized in any manner or in any part. No statement herein has been evaluated by the Food and Drug Administration (FDA). Lexaria-associated products are not intended to diagnose, treat, cure or prevent any disease. Any forward-looking statements contained in this release speak only as of the date hereof, and the Company expressly disclaims any obligation to update any forward-looking statements or links to third-party websites contained herein, whether as a result of any new information, future events, changed circumstances or otherwise, except as otherwise required by law.

INVESTOR CONTACT:

George Jurcic - Head of Investor Relations
[email protected]
Phone: 250-765-6424, ext 202

SOURCE: Lexaria Bioscience Corp.



View the original press release on ACCESS Newswire

  • Strategic Business Development Advisory Firm Engaged To Support New Business Development Activities

  • Lexaria Awarded 4 New Patents

KELOWNA, BC / ACCESS Newswire / October 9, 2025 / Lexaria Bioscience Corp. (NASDAQ:LEXX)(NASDAQ:LEXXW) (the "Company" or "Lexaria"), a global innovator in drug delivery platforms is pleased to provide the following strategic business update.

For several years, Lexaria has been validating the applicability of its patented DehydraTECH technology across a number of sectors within the pharmaceutical industry. In parallel, Lexaria has pursued as many business opportunities as possible using historically limited internal resources, while acknowledging the early stages of DehydraTECH development for pharmaceutical applications. Lexaria's R&D validation programs have already identified several pharmaceutical areas of interest including, but not limited to: treatments for diabetes control and weight loss, hypertension, seizure disorders, anti-viral applications and hormone replacement.

Lexaria is pleased to announce it has now augmented its ongoing internally led business development activities by hiring a global life science business development advisory firm to help identify and pursue additional collaborative business opportunities around the world. Under the terms of that engagement, new outreach activities to the pharmaceutical and biotechnology sectors are underway. Due to the sensitive strategic nature of licensing and partnering discussions, details of the parties involved will remain confidential.

The resources permitting this expansion of strategic outreach, and key supportive R&D related thereto, have been made available through Lexaria's recently completed equity financing which yielded gross proceeds of $4.0 million on excellent terms. Prior to that financing, the Company's existing operations and ongoing R&D programs were fully funded through the end of 2025. The additional capital was required in order to advance and execute plans for important supportive new R&D expansion activities into 2026.

Most R&D projects require several months' lead time for activities including study design, regulatory approvals, and entry into binding contracts with third-party vendors. With this in mind, had the Company not obtained these new funds, the first half of 2026 would have been devoid of vital new R&D programs and their attendant potential for corporate business development. Corporate finance decisions are thus an integral part of the Company's broader strategic goals.

R&D programs evolve hand-in-hand with building and strengthening business and strategic connections in the pharmaceutical and biotechnology industries. Even when successful collaboration agreements are reached, they are often limited in scope to narrowly defined areas of study and the short-term economic benefits to Lexaria might also be limited to those areas of mutual interest. However, because of its broad platform nature, Lexaria's DehydraTECH technology has evidenced advantages and improvements in many different sectors and management believes the Company is now ready for the expanded outreach made possible through the engagement of the noted global life science business development firm.

Empowered with new financial resources, Lexaria is now able to advance its business development and R&D programs through the winter and into the first half of calendar 2026. Once final decisions have been made and budgets have been established, the Company will provide additional updates on its exciting strategic R&D plans.

During this period, we also anticipate the final results from the Company's important Phase 1b Australian study in the GLP-1 sector, expected to evidence patient safety and efficacy with DehydraTECH processing of certain industry-leading GLP-1 and complementary drugs marketed today.

In addition, Lexaria is pleased to announce that it has been awarded 4 new patents, continuing to build upon our already significant intellectual property portfolio. These patents support the immense value of our strategic R&D programs as they cover broad therapeutic applications within the fields of diabetes, hypertension, seizure disorders, antiviral treatments, and more.

The new patents are summarized as follows:

Issued
Patent #

Patent Certificate Grant Date

Patent
Family

AU 2024202475

July 24, 2025

#24 Compositions and Methods for Treating Epilepsy

US 12,397,042

August 26, 2025

#27 Compositions and Methods for Treating Diabetes

EP 3858364

September 17, 2025

#1 Food and Beverage Compositions Infused With Lipophilic Active Agents and Methods of Use Thereof

AU 2023200736

October 2, 2025

#18 Compositions and Methods for Enhanced Delivery of Antiviral Agents

In summary, the proceeds from the recent financing provide Lexaria with the opportunity to enhance our corporate business development and strategic R&D programs for 2026, as well as to continue to broaden and strengthen our patent portfolio. Together, these initiatives are being pursued to give Lexaria additional "shots on goal" and opportunities to build shareholder value.

About Lexaria Bioscience Corp. & DehydraTECH

DehydraTECH™ is Lexaria's patented drug delivery formulation and processing platform technology which improves the way a wide variety of drugs enter the bloodstream, always through oral delivery. DehydraTECH has repeatedly evidenced the ability to increase bio-absorption, reduce side effects, and deliver some drugs more effectively across the blood brain barrier. Lexaria operates a licensed in-house research laboratory and holds a robust intellectual property portfolio with 54 patents granted and additional patents pending worldwide. For more information, please visit www.lexariabioscience.com.

CAUTION REGARDING FORWARD-LOOKING STATEMENTS

This press release includes forward-looking statements as such term is defined under applicable securities laws. These statements may be identified by words such as "anticipate," "if," "believe," "plan," "estimate," "expect," "intend," "may," "could," "should," "will," and other similar expressions. Such forward-looking statements in this press release include, but are not limited to, statements by the Company relating to the intended use of proceeds from the offering, the Company's anticipated 2026 R&D and business development plans, and the Company's ability to carry out research initiatives, receive regulatory approvals or grants or experience positive effects or results from any research or study. Such forward-looking statements are estimates reflecting the Company's best judgment based upon current information and involve a number of risks and uncertainties, and there can be no assurance that the Company will actually achieve the plans, intentions, or expectations disclosed in these forward-looking statements. As such, you should not place undue reliance on these forward-looking statements. Factors which could cause actual results to differ materially from those estimated by the Company include, but are not limited to, market and other conditions, government regulation and regulatory approvals, managing and maintaining growth, the effect of adverse publicity, litigation, competition, scientific discovery, the patent application and approval process, potential adverse effects arising from the testing or use of products utilizing the DehydraTECH technology, the Company's ability to maintain existing collaborations and realize the benefits thereof, delays or cancellations of planned R&D that could occur related to pandemics or for other reasons, and other factors which may be identified from time to time in the Company's public announcements and periodic filings with the US Securities and Exchange Commission on EDGAR. The Company provides links to third-party websites only as a courtesy to readers and disclaims any responsibility for the thoroughness, accuracy or timeliness of information at third-party websites. There is no assurance that any of Lexaria's postulated uses, benefits, or advantages for the patented and patent-pending technology will in fact be realized in any manner or in any part. No statement herein has been evaluated by the Food and Drug Administration (FDA). Lexaria-associated products are not intended to diagnose, treat, cure or prevent any disease. Any forward-looking statements contained in this release speak only as of the date hereof, and the Company expressly disclaims any obligation to update any forward-looking statements or links to third-party websites contained herein, whether as a result of any new information, future events, changed circumstances or otherwise, except as otherwise required by law.

INVESTOR CONTACT:

George Jurcic - Head of Investor Relations
[email protected]
Phone: 250-765-6424, ext. 202

SOURCE: Lexaria Bioscience Corp.



View the original press release on ACCESS Newswire

KELOWNA, BC / ACCESS Newswire / September 29, 2025 / Lexaria Bioscience Corp. (NASDAQ:LEXX)(NASDAQ:LEXXW) (the "Company" or "Lexaria"), a global innovator in drug delivery platforms, today announced the closing of its previously announced registered direct offering priced at-the-market under Nasdaq rules of an aggregate of 2,666,667 shares of its common stock, par value $0.001 per share, at a purchase price of $1.50 per share. In addition, in a concurrent private placement, the Company issued unregistered warrants to purchase up to 2,666,667 shares of common stock. The warrants have an exercise price of $1.37 per share, are immediately exercisable and expire five years from the date of the effectiveness of the resale registration statement registering the shares of common stock issuable upon exercise of the unregistered warrants.

"This financing is intended to provide Lexaria with greater optionality for our 2026 R&D and business development plans," said Richard Christopher, CEO of Lexaria Bioscience Corp. "Most of our study work requires signed contracts prior to ever beginning, therefore we are constantly evaluating our future funding needs. This financing is intended to allow us to bring our plans for 2026 into focus and execute on R&D, which drives our intellectual property and ultimately the value of our Company. In this way, successful financings work towards building shareholder value."

H.C. Wainwright & Co. acted as the exclusive placement agent for the offering.

The aggregate gross proceeds to the Company from the offering were approximately $4.0 million, before deducting the placement agent fees and other offering expenses payable by the Company. The Company currently intends to use the net proceeds from the offering for working capital and other general corporate purposes.

The shares of common stock (but not the warrants issued in the private placement or the shares of common stock underlying such warrants) were offered by the Company pursuant to a "shelf" registration statement on Form S-3 (File No. 333-284407) that was declared effective by the Securities and Exchange Commission (the "SEC") on January 30, 2025. The registered direct offering of the shares of common stock was made only by means of a prospectus, including a prospectus supplement, forming a part of the effective registration statement. The prospectus supplement and the accompanying prospectus relating to the securities offered in the registered direct offering were filed with the SEC and are available at the SEC's website at www.sec.gov. Electronic copies of the prospectus supplement and the accompanying prospectus relating to the registered direct offering may also be obtained by contacting H.C. Wainwright & Co., LLC at 430 Park Avenue, 3rd Floor, New York, NY 10022, by telephone at (212) 856-5711 or e-mail at [email protected].

The warrants described above were issued in a concurrent private placement under Section 4(a)(2) of the Securities Act of 1933, as amended (the "Securities Act"), and Regulation D promulgated thereunder and, along with the shares of common stock underlying the warrants, have not been registered under the Securities Act, or applicable state securities laws. Accordingly, the warrants and underlying shares of common stock may not be offered or sold in the United States except pursuant to an effective registration statement or an applicable exemption from the registration requirements of the Securities Act and such applicable state securities laws.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy any of the securities described herein, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or jurisdiction.

About Lexaria Bioscience Corp. & DehydraTECH

DehydraTECH™ is Lexaria's patented drug delivery formulation and processing platform technology which improves the way a wide variety of drugs enter the bloodstream, always through oral delivery. DehydraTECH has repeatedly evidenced the ability to increase bio-absorption, reduce side-effects, and deliver some drugs more effectively across the blood brain barrier. Lexaria operates a licensed in-house research laboratory and holds a robust intellectual property portfolio with 50 patents granted and additional patents pending worldwide. For more information, please visit www.lexariabioscience.com.

CAUTION REGARDING FORWARD-LOOKING STATEMENTS

This press release includes forward-looking statements as such term is defined under applicable securities laws. These statements may be identified by words such as "anticipate," "if," "believe," "plan," "estimate," "expect," "intend," "may," "could," "should," "will," and other similar expressions. Such forward-looking statements in this press release include, but are not limited to, statements by the Company relating to the intended use of proceeds from the offering, the Company's anticipated 2026 R&D and business development plans, and the Company's ability to carry out research initiatives, receive regulatory approvals or grants or experience positive effects or results from any research or study. Such forward-looking statements are estimates reflecting the Company's best judgment based upon current information and involve a number of risks and uncertainties, and there can be no assurance that the Company will actually achieve the plans, intentions, or expectations disclosed in these forward-looking statements. As such, you should not place undue reliance on these forward-looking statements. Factors which could cause actual results to differ materially from those estimated by the Company include, but are not limited to, market and other conditions, government regulation and regulatory approvals, managing and maintaining growth, the effect of adverse publicity, litigation, competition, scientific discovery, the patent application and approval process, potential adverse effects arising from the testing or use of products utilizing the DehydraTECH technology, the Company's ability to maintain existing collaborations and realize the benefits thereof, delays or cancellations of planned R&D that could occur related to pandemics or for other reasons, and other factors which may be identified from time to time in the Company's public announcements and periodic filings with the US Securities and Exchange Commission on EDGAR. The Company provides links to third-party websites only as a courtesy to readers and disclaims any responsibility for the thoroughness, accuracy or timeliness of information at third-party websites. There is no assurance that any of Lexaria's postulated uses, benefits, or advantages for the patented and patent-pending technology will in fact be realized in any manner or in any part. No statement herein has been evaluated by the Food and Drug Administration (FDA). Lexaria-associated products are not intended to diagnose, treat, cure or prevent any disease. Any forward-looking statements contained in this release speak only as of the date hereof, and the Company expressly disclaims any obligation to update any forward-looking statements or links to third-party websites contained herein, whether as a result of any new information, future events, changed circumstances or otherwise, except as otherwise required by law.

INVESTOR CONTACT:

George Jurcic - Head of Investor Relations
[email protected]
Phone: 250-765-6424, ext. 202

SOURCE: Lexaria Bioscience Corp.



View the original press release on ACCESS Newswire

KELOWNA, BC / ACCESS Newswire / September 26, 2025 / Lexaria Bioscience Corp. (NASDAQ:LEXX, LEXXW) (the "Company" or "Lexaria"), a global innovator in drug delivery platforms, today announced that it has entered into a definitive agreement for the purchase and sale of an aggregate of 2,666,667 shares of its common stock, par value $0.001 per share, at a purchase price of $1.50 per share in a registered direct offering priced at-the-market under Nasdaq rules. In addition, in a concurrent private placement, the Company will issue unregistered warrants to purchase up to 2,666,667 shares of common stock. The warrants will have an exercise price of $1.37 per share, will be immediately exercisable and will expire five years from the date of the effectiveness of the resale registration statement registering the shares of common stock issuable upon exercise of the unregistered warrants. The closing of the offering is expected to occur on or about September 29, 2025, subject to the satisfaction of customary closing conditions.

H.C. Wainwright & Co. is acting as the exclusive placement agent for the offering.

The aggregate gross proceeds to the Company from the offering are expected to be approximately $4.0 million, before deducting the placement agent fees and other offering expenses payable by the Company. The Company currently intends to use the net proceeds from the offering for working capital and other general corporate purposes.

The shares of common stock (but not the warrants issued in the private placement or the shares of common stock underlying such warrants) are being offered by the Company pursuant to a "shelf" registration statement on Form S-3 (File No. 333-284407) that was declared effective by the Securities and Exchange Commission (the "SEC") on January 30, 2025. The registered direct offering of the shares of common stock is being made only by means of a prospectus, including a prospectus supplement, forming a part of the effective registration statement. The prospectus supplement and the accompanying prospectus relating to the securities being offered in the registered direct offering will be filed with the SEC and be available at the SEC's website at www.sec.gov. Electronic copies of the prospectus supplement and the accompanying prospectus relating to the registered direct offering may also be obtained, when available, by contacting H.C. Wainwright & Co., LLC at 430 Park Avenue, 3rd Floor, New York, NY 10022, by telephone at (212) 856-5711 or e-mail at [email protected].

The warrants described above are being issued in a concurrent private placement under Section 4(a)(2) of the Securities Act of 1933, as amended (the "Securities Act"), and Regulation D promulgated thereunder and, along with the shares of common stock underlying the warrants, have not been registered under the Securities Act, or applicable state securities laws. Accordingly, the warrants and underlying shares of common stock may not be offered or sold in the United States except pursuant to an effective registration statement or an applicable exemption from the registration requirements of the Securities Act and such applicable state securities laws.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy any of the securities described herein, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or jurisdiction.

About Lexaria Bioscience Corp. & DehydraTECH

DehydraTECH™ is Lexaria's patented drug delivery formulation and processing platform technology which improves the way a wide variety of drugs enter the bloodstream, always through oral delivery. DehydraTECH has repeatedly evidenced the ability to increase bio-absorption, reduce side-effects, and deliver some drugs more effectively across the blood brain barrier. Lexaria operates a licensed in-house research laboratory and holds a robust intellectual property portfolio with 50 patents granted and additional patents pending worldwide. For more information, please visit www.lexariabioscience.com.

CAUTION REGARDING FORWARD-LOOKING STATEMENTS

This press release includes forward-looking statements. Statements as such term is defined under applicable securities laws. These statements may be identified by words such as "anticipate," "if," "believe," "plan," "estimate," "expect," "intend," "may," "could," "should," "will," and other similar expressions. Such forward-looking statements in this press release include, but are not limited to, statements by the Company relating to the completion of the offering, the satisfaction of customary closing conditions related to the offering, the intended use of proceeds from the offering and relating to the Company's ability to carry out research initiatives, receive regulatory approvals or grants or experience positive effects or results from any research or study. Such forward-looking statements are estimates reflecting the Company's best judgment based upon current information and involve a number of risks and uncertainties, and there can be no assurance that the Company will actually achieve the plans, intentions, or expectations disclosed in these forward-looking statements. As such, you should not place undue reliance on these forward-looking statements. Factors which could cause actual results to differ materially from those estimated by the Company include, but are not limited to, market and other conditions, government regulation and regulatory approvals, managing and maintaining growth, the effect of adverse publicity, litigation, competition, scientific discovery, the patent application and approval process, potential adverse effects arising from the testing or use of products utilizing the DehydraTECH technology, the Company's ability to maintain existing collaborations and realize the benefits thereof, delays or cancellations of planned R&D that could occur related to pandemics or for other reasons, and other factors which may be identified from time to time in the Company's public announcements and periodic filings with the US Securities and Exchange Commission on EDGAR. The Company provides links to third-party websites only as a courtesy to readers and disclaims any responsibility for the thoroughness, accuracy or timeliness of information at third-party websites. There is no assurance that any of Lexaria's postulated uses, benefits, or advantages for the patented and patent-pending technology will in fact be realized in any manner or in any part. No statement herein has been evaluated by the Food and Drug Administration (FDA). Lexaria-associated products are not intended to diagnose, treat, cure or prevent any disease. Any forward-looking statements contained in this release speak only as of the date hereof, and the Company expressly disclaims any obligation to update any forward-looking statements or links to third-party websites contained herein, whether as a result of any new information, future events, changed circumstances or otherwise, except as otherwise required by law.

INVESTOR CONTACT:

George Jurcic - Head of Investor Relations
[email protected]
Phone: 250-765-6424, ext. 202

SOURCE: Lexaria Bioscience Corp.



View the original press release on ACCESS Newswire

Enhanced Brain Biodistribution of GLP-1 Drugs May Be Related to Improvements in Safety and Efficacy

KELOWNA, BC / ACCESS Newswire / September 19, 2025 / Lexaria Bioscience Corp. (Nasdaq:LEXX)(Nasdaq:LEXXW) (the "Company" or "Lexaria"), a global innovator in drug delivery platforms, is pleased to announce successful results from its fluorescently tagged semaglutide ("FTS") rodent biodistribution study (the "Study").

The main goal of the Study was to determine whether the DehydraTECH processing of semaglutide improves its biodistribution in any significant way as compared to the conventional orally administered semaglutide formulation practice.

The most intriguing finding from the Study was that Lexaria's DehydraTECH-FTS composition, across all doses tested (asterisked below), demonstrated a predominantly higher apparent trend in brain biodistribution (evidenced as fluorescent signal intensity upon whole brain imaging) than the Rybelsus® equivalent composition and all Study controls. In fact, the 5mg DehydraTECH-FTS composition achieved higher brain semaglutide fluorescent signal intensity than the 15mg Rybelsus® equivalent composition.

Following the whole-organ imaging, the brain was further sectioned via sagittal slices (2-3mm thickness) into two and then four pieces to better visualize the brain regions that semaglutide is known to interact with. These key regions of interest were the brainstem, known for direct semaglutide interaction; the paraventricular nucleus of the hypothalamus, involved in energy homeostasis; and the circumventricular organs, which lack a blood-brain barrier, such as the area postrema, subfornical organ, and median eminence.Upon doing so, it was noteworthy that all three DehydraTECH doses tested displayed fluorescence above that of the naïve and vehicle groups, while only the highest dosage (15mg/kg) of the Rybelsus equivalent composition surpassed the naïve and vehicle groups.

"Lexaria has repeatedly evidenced higher brain levels upon gross necropsy in rodent studies with other DehydraTECH-processed active ingredients in the past that demonstrated superior safety and efficacy over controls," said John Docherty, Lexaria President and CSO. "We are delighted to now see early evidence of this through more detailed fluorescent imaging with DehydraTECH-semaglutide which may, in turn, help to explain the performance benefits in safety and efficacy we have witnessed in our related human clinical testing to-date."

GLP-1 drug performance is increasingly understood to include or even depend upon involvement of brain neurochemistry, thus making brain biodistribution vital. Semaglutide has been shown to regulate body weight through direct and indirect activation of GLP-1 receptors ("GLP-1Rs") on several independent brain nuclei, affecting the activity of neuronal pathways involved in food intake, reward, and energy expenditure. Furthermore, studies in rodents have suggested that GLP-1 analogs can act upon brain to suppress appetite without causing nausea, which is otherwise known to be among the most common side effects of today's GLP-1 therapies. In this context, Lexaria's discovery of an apparent trend toward enhanced semaglutide brain biodistribution using its DehydraTECH technology could be impactful on the both the safety and efficacy performance of current and next generation GLP-1 drugs.

Findings from the Study suggest that the Lexaria DehydraTECH-FTS composition - absent all of the Rybelsus® equivalent composition excipients - may enable unique delivery and distribution enhancements in brain tissue possibly supporting improved pharmacodynamic performance. In addition, and perhaps to be determined through future testing, it is conceivable that complementary biodistribution benefits might be derived through utilization of a similar DehydraTECH semaglutide composition combined with the Rybelsus® excipients, recognizing that marked safety and efficacy improvements were evidenced with DehydraTECH-processed Rybelsus® over Rybelsus® alone in Lexaria's previous human pilot studies GLP-1-H24-1 and GLP-1-H24-2.

Lexaria considers these early-stage results to be highly encouraging and supportive of both additional research and of industry partnerships designed to produce the safest and most effective GLP-1 drugs on the market.

About the Study

This preclinical pilot Study was designed to evaluate the biodistribution of oral semaglutide, formulated using either DehydraTECH or a Rybelsus® equivalent composition in Sprague Dawley rats using non-invasive whole-bodyimaging and ex vivo organ analysis. The Rybelsus® equivalent composition was created by Lexaria strictly for these research purposes, with ingredients believed to be in the correct proportions used within the Rybelsus® orally-administered product sold by Novo Nordisk® today, without DehydraTECH processing. The Study involved single oral gavage dosing of the two formulations across multiple groups of rats, followed by a series of imaging time points across the different study procedures, up to 24 hours post-dosing.

The semaglutide utilized to create the FTS integrated into the test articles studied was tagged with a cyanine 7 fluorophore to enable visualization. Cyanine 7 was chosen for its excitation wavelength in the near-infrared region, allowing for deeper tissue penetration and minimal tissue autofluorescence, resulting in a lower background signal for emission measurements. Tissue collection for ex vivo imaging and further analysis, including histopathological evaluation and immunofluorescence assays, was performed to provide critical insights into the localization and distribution of semaglutide. Fluorescence signal was quantified in terms of total radiant efficiency, calculated by the in vivo imaging system imaging software, Living Image®.

FTS was tracked via fluorescent imaging detection to evidence how and where semaglutide distributed and localized following oral ingestion by the rats. Various key tissues known to express the GLP-1R were examined including the brain, pancreas, lung, kidney, liver, and heart. These tissues were subjected to detailed fluorescent imaging detection exams which showed more specific tissue localization patterns and concentrations.

A total of twenty-five (n=25) male Sprague Dawley rats were used in the Study, with 22 rats allocated for dosing in groups of 2-3 rats randomly assigned per formulated test article examined, and 3 additional animals designated as naïve (i.e., untreated) control. The test articles examined included vehicle formulations for both the DehydraTECH and Rybelsus® equivalent compositions, essentially serving as placebo compositions containing the respective inactive excipient ingredients but devoid of any semaglutide incorporation.

The Study was performed by an independent animal research facility specialized in pharmacokinetic evaluations. All conclusions regarding the ex vivo whole-organ imaging were made in a qualitative manner, based on visual comparisons of the images and graphs. Due to the limited size of this pilot Study, no statistical analyses or interpretations were performed.

About Lexaria Bioscience Corp. & DehydraTECH

DehydraTECH™ is Lexaria's patented drug delivery formulation and processing platform technology which improves the way a wide variety of drugs enter the bloodstream, always through oral delivery. DehydraTECH has repeatedly evidenced the ability to increase bio-absorption, reduce side effects, and deliver some drugs more effectively across the blood brain barrier. Lexaria operates a licensed in-house research laboratory and holds a robust intellectual property portfolio with 50 patents granted and additional patents pending worldwide. For more information, please visit www.lexariabioscience.com.

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INVESTOR CONTACT:

George Jurcic - Head of Investor Relations
[email protected]
Phone: 250-765-6424, ext 202

SOURCE: Lexaria Bioscience Corp.



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