Lexaria Stock Soars 35% Following Key Clinical Study News
Positive data supports company’s plans to seek FDA approval
Global drug-delivery innovator Lexaria Bioscience Corp. (NASDAQ: LEXX) (NASDAQ: LEXXW) saw its stock price jump a full 35% following the release of positive data from its recent hypertension clinical study.
Data from this study, together with data from previously announced successful studies, will support Lexaria’s plans to seek approvals by the U.S. Food and Drug Administration to commence formal, registered clinical testing in the treatment of hypertension under the Investigational New Drug (IND) process. This is notable news for investors and hypertension sufferers alike.
Earlier, Lexaria shared that its pulmonary hypertension clinical study HYPER-H21-3 had been completed successfully with positive safety and efficacy results, and no serious adverse side effects. The company’s DehydraTECH-CBD formulation demonstrated the ability to reduce blood pressure for those with essential hypertension, the most common form, to individuals with stress-induced pulmonary hypertension.
The hypertension market is already valued at $28 billion per year, and is expected to remain one of the world’s top health issues, as a subset of the heart disease market. More than 1.1 billion people worldwide suffer from high blood pressure, according to the World Health Organization, and fewer than 1 in 4 have been able to successfully control blood pressure through medication.
With this news, Lexaria believes that DehydraTECH-CBD may introduce a more tolerable and affordable treatment option to reduce blood pressure with fewer unwanted side effects. The current stock price is $3.83.