It has been many months since our last mention of Lexaria Bioscience Corp. (OTMKTS:LXRP) here on Street Register, and recently there have been a number of developments for the company, that, combined with an increase in liquidity and price action on the chart, makes us interested to come back and take another look.
In fact, just in the still fairly new month of November, we’ve already seen shares of LXRP changing hands for as little as .40 up to more than .70 per share. Volume over the same period has been considerably heightened. It comes in conjunction with news about the company’s pending patent.
Last week, Lexaria Bioscience Corp. (OTMKTS:LXRP) announced it has received a new Notice of Allowance from the United States Patent and Trademark Office (“USPTO”) for the use of its technology as a delivery platform for all cannabinoids including THC; fat soluble vitamins; non steroidal anti-inflammatory pain medications (“NSAIDs”); and nicotine.
This Notice of Allowance applies to the delivery of all active pharmacological ingredients (“APIs”) Lexaria had been seeking. While Lexaria has always had confidence in its patent applications, the rapid allowance for this broad API applicability is significantly ahead of Company expectations. As was true with the Company’s existing non-psychoactive cannabinoid patent that was granted in 2016, Lexaria expects formal patent issuance within three to four months which is expected to provide protection until at least 2035.
Under USPTO practice, there is no opposition period between allowance and issuance. The patent application number is 15/225,799, “Food and Beverage Compositions Infused With Lipophilic Active Agents and Methods of Use Thereof”.
Lexaria also continues to advance all its additional patent applications in various countries as it levers patent success in the USA. For example, one of the Company’s patent applications has recently entered the active patent investigation phase in China.
“Issuance of this broad patent will give Lexaria the ability to ramp up our technology out-licensing activities especially within the pharmaceutical sector where the expanded API capacity of our DehydraTECH™ delivery platform will be most applicable,” said John Docherty, President.
“This wide-ranging patent allowance from the USPTO exceeds our expectations,” said Chief Executive Officer Chris Bunka. “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.”
Lexaria’s patented DehydraTECH™ technology is focused on improved delivery methodologies of many commonly used API substances. As such, it provides an additional layer of effectiveness that is designed to harmonize with the intellectual property of third parties. Both patented and generic API substances can utilize Lexaria’s patented technology. Lexaria’s long term strategy is to partner with the world’s leading firms as they deliver best-of-class products to their existing large consumer groups. Lexaria is presently investigating and will continue to pursue additional technologies that could deliver value to its growing portfolio of patented technologies. (Source: Globe Newswire)
While we’re very interested in LXRP’s patent pending cannabinoid delivery solutions, and the progress the company is making toward receiving its patent/s, we’re currently most interested in the rapid rise of LXRP on the chart. We’ll be sure to continue to track its movements. Keep it locked to Street Register for updates, and we’ll deliver those important developments on LXRP to you as they unfold. In the meantime, if you’ve yet to sign up for our 100% free newsletter, do so now! Just enter your active email address into the box below and submit!
Disclosure: No one at Street Register has been compensated in any way for the publishing of this article, nor do we hold any position in LXRP stock, short or long.