Lexaria Bioscience Corp. (NASDAQ: LEXX) announced the extension of its Material Transfer Agreement with an unnamed pharmaceutical company through December 31, 2026. The original agreement was signed on August 30, 2024.

The extension allows the pharmaceutical company additional time to receive and review Lexaria's 2026 research and development results related to GLP-1, according to the company's statement. The temporary exclusive license remains active during this period.

Lexaria has three ongoing GLP-1 studies currently in process: Human Study #7 and two animal studies. The company stated these studies are fully funded with existing corporate resources, with results expected during the third and fourth quarters of 2026.

The Kelowna, British Columbia-based company develops DehydraTECH, a drug delivery platform technology designed to improve how drugs enter the bloodstream through oral delivery. Lexaria holds 65 granted patents with additional patents pending worldwide.

The Material Transfer Agreement enables both parties to continue their relationship and maintain discussions between the pharmaceutical company's clinical and business development teams, according to the press release.