Lexaria Bioscience Corp (OTCMKTS:LXRP)
Lexaria Bioscience Corp (OTCMKTS:LXRP) was a big mover just days after the U.S Patent and Trademark Office granted it a new Notice of Allowance for the use of its new delivery platform, DehydraTECH. The stock was up by 15.2% in Monday’s trading session to end the day at $0.69.
LXRP Stock Performance
The rally capped another impressive run that has seen the stock gain more than 50% in market value since the first of the month. For the full year, Lexaria Bioscience Corp (OTCMKTS:LXRP) stock is up by more than 100%.
Renewed investor interest follows the acquisition of Poviva Tea LLC and the company receiving a groundbreaking U.S Patent allowance for its proprietary technology. The patent covers a delivery platform for all cannabinoids, including Fat-soluble vitamin and non-steroidal anti-inflammatory pain medications
Lexaria Bioscience Corp (OTCMKTS:LXRP) expects formal patent issuance within the next four months. Issuance of the patent should allow the company to ramp up licensing activities within the pharmaceutical space. However, the company’s long-term plan with the delivery platform is to partner world’s leading firms that deliver best in class products to consumer groups.
“This vastly expanded intellectual property protection will enable us to aggressively pursue new business opportunities in 2018 such as what could be the world’s first nicotine edibles for the smokeless tobacco industry or enhanced products for NSAID-derived pain management, as well as in the rapidly growing cannabis market,” said CEO Chris Bunka.
The acquisition of Poviva Tea LLC further underscores Lexaria Bioscience Corp (OTCMKTS:LXRP) commitment to pursue growth opportunities in various industries. The acquisition strengthens the company’s intellectual property positioning, in addition to providing new revenue streams.
Under the terms of the deal, Lexaria Bioscience Corp (OTCMKTS:LXRP) is to pay Poviva Tea LLC a compensation of $70,000 as well as offer a waiver on certain debts. The company is also to pay a 5% 20-year royalty on net profits. The acquisition consolidates Poviva Tea LLC as a wholly owned subsidiary of the company which should simplify future operations as well as intellectual property ownership.
I have no positions in any of the stocks mentioned, and have no plans to initiate any positions within the next 72 hours. All information, including any data, is provided without any guarantees of accuracy.
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