Lexaria Bioscience Secures $2 Million in Direct Stock Offering

The latest announcement is out from Lexaria Bioscience ( (LEXX) ).

Lexaria Bioscience Corp. has successfully closed a $2 million registered direct offering of common stock with a single institutional investor, despite challenging market conditions. The company plans to use the net proceeds for working capital and general corporate purposes, while minimizing dilution for existing shareholders by avoiding the issuance of new warrants, except for pre-funded ones.

More about Lexaria Bioscience

Lexaria Bioscience Corp. is a global innovator in drug delivery platforms, known for its patented DehydraTECH technology. This platform enhances the oral delivery of various drugs by increasing bio-absorption, reducing side effects, and improving the delivery of drugs across the blood-brain barrier. The company operates a licensed in-house research laboratory and holds a strong intellectual property portfolio with 48 patents granted worldwide.

YTD Price Performance: -41.30%

Average Trading Volume: 104,326

Technical Sentiment Signal: Strong Buy

Current Market Cap: $23.7M

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