Lexaria raises $7.9M, extends cash runway through 2027

Lexaria Bioscience Corp. (NASDAQ: LEXX) said it has received combined net proceeds of $7.9 million from an Australian tax refund and an institutional financing round priced at $12.92 per share, according to a company statement.

With 2.1 million shares currently issued and outstanding, the company said the new capital, combined with its pre-existing cash balance, represents approximately $4.60 per share in cash on hand.

CEO Rich Christopher said the company does not intend to pursue additional equity or debt financing in 2026, and that the capital extends the company's cash runway through 2027.

Christopher attributed recent stock price pressure to what he described as "aggressive/perplexing trading activity," adding that the company intends to "weather the storm and offset this predatory trading behavior through continued execution of our business strategy."

The company also said it expects to reduce its own R&D spending in 2027 by transferring certain research costs to business development partners. Lexaria said updates on its 2026 R&D programs and guidance on 2027 programs will follow now that financing activities are complete.

Lexaria is based in Kelowna, British Columbia, and holds a portfolio of 66 granted patents related to its DehydraTECH drug delivery platform technology.

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