Lexaria Bioscience Corp (CSE:LXX) (OTCMKTS:LXRP) climbed Wednesday after announcing that its largest-ever cannabinoid research and development project is underway.
This project will test for a variety of potential performance-enhancing variations of the company's DehydraTECH delivery technology.
Shares of Lexaria advanced C$0.03 to C$1.65 in Wednesday’s Canadian trading. They traded at US$1.21 on the OTC Markets.
READ: Lexaria Bioscience cites FDA statement on nicotine replacement therapy to help smokers quit
DehydraTECH, according to Lexaria, increases intestinal absorption, speeds delivery to the bloodstream and provides taste-masking benefits for orally administered bioactive molecules including cannabinoids, vitamins, non-steroidal anti-inflammatory drugs, nicotine and other molecules.
Lexaria’s approach can be applied to foods, beverages, oral suspensions, tablets and capsules.
In addition, the R&D program will for the first time ever evaluate DehydraTECH in combination with nanotech emulsion formulas evaluated last year, according to Lexaria.
Comparable studies
The program is made up of 11 separate animal studies, each of which is comparable in scope to individual animal studies conducted in 2018.
Separately, the Kelowna, British Columbia, company said it has terminated a license agreement between Lexaria CanPharm ULC and NeutiSci International Inc (CVE:NU) (OTCMKTS:NRXCF), announced in February 2018.
Last month, Lexaria cited a Food and Drug Administration statement on the development of safe and effective nicotine replacement therapies to help smokers quit cigarettes.
In January, a unit of Lexaria entered into a definitive agreement with Altria Group Inc (NYSE:MO) to fund research on regulatory compliant, oral forms of nicotine delivery.
Contact Dennis Fitzgerald at dennis@proactiveinvestors.com