Lexaria Bioscience Corp. (NASDAQ: LEXX) raised $7.9 million in net proceeds, extending its cash runway through 2027, the company said on Sept. 17.
The Kelowna, British Columbia-based firm issued 2.1 million shares at $12.92 each as part of an institutional financing round. Combined with existing cash reserves, Lexaria has approximately $4.60 per share in available funds, according to CEO Rich Christopher.
"We have no intention of pursuing any additional equity or debt financings in 2026," Christopher said.
Lexaria develops drug-delivery technologies under its proprietary DehydraTECH platform, which is designed for oral administration of pharmaceutical compounds. The company holds 66 granted patents globally, alongside additional patents pending, and operates its own research laboratory.
Looking ahead, Christopher outlined plans to reduce research and development spending in 2027, with certain R&D costs expected to be transferred to business development partners as part of a cost-reduction strategy. Planned research updates are expected following the completion of financing activities for the company's 2026 research programs, with full-year 2027 guidance to follow.
Christopher also addressed what he described as "aggressive and perplexing trading activity" and "predatory trading behavior" in the company's stock, thanking retail shareholders for their patience amid recent market pressure.
