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For those who remain optimistic about this stock: is there any identifiable point at which you would become a skeptic, if by that point the stock doesn't deliver? Like, a month and year? At what point does the adherence become sort of cult-like in its manifestation?
@Tony: I know researchers have been doing studies for years on whether nicotine can help with Parkinsons Disease. This one paper, from 2015, said it's known that there's an inverse relationship between tobacco use and development of PD. They think it's about the nicotine. There also seems to be help with symptoms for those who already have it. I'm not sure what that would mean for DehydraTech. Anyhow, here's a copy of the paper if you or anyone else are interested: https://www.ncbi.nlm.nih.gov/pmc/articles/PMC4430096/
@Mansax: For what it's worth, I feel like they could use a better copywriter. I read the press release, and it's a bit murky just what the benefit is. I realize some things are just complicated; but maybe they could have some dramatic sounding examples of how this tech. could benefit people. I know people have mentioned this before, but sometimes the tech. sounds a little like it's a solution in search of a problem. For example, if DehydraTech makes a drug take effect in 30 minutes instead of an hour, so what? They really need to drive home in dramatic fashion how this is going to help. I realize they can't lie or exaggerate, but they need to do something to make this sound -- more interesting, I guess.
For anyone interested in what's going on with Juul right now, there is an excellent one hour podcast on Twitterspace about it. It is an hour and three minutes with Amanda Wheeler and others. It and other podcasts on related subjects are available on CASAA' youtube page at https://www.youtube.com/c/CASAA/featured.
How would a deal with LEXX help Juul?
I think Lexaria paid Zacks to cover the stock, though.
@Mansax We're definitely not getting the inside scoop here.
Hope springs eternal, I guess.
@harlem: 6 cents a share. omg!
@codfather: your comment reminds me a little of a lengthy post by someone who said he used to work at Lexaria at one time. I think he said his name was Finn, perhaps Wm Finn. Anyhow, he had positive things to say about the company, something along the lines of these people are 'the real deal,' and that they really do care about the company. On the other hand, he said, he thought there needed to be more of a focus on marketing/selling their product(s). Rather than, I suppose, the incessant focus on studies as a marker of progress in themselves.
@abundance I guess what I'd like to see is someone as CEO, not even necessarily an outsider, maybe one of the other principals, who has more of a science background. I'd also like to see their compensation somehow tied to actual results. As for the article you linked to, the example of K-Mart isn't really that good, imo. The problems with K-Mart had to do with secular changes in the retail space that would have been hard to rectify vis a vis K-Mart. Anyhow, basically after the uplisting they put out a message congratulating themselves about it, which would have been fine if it had produced positive results. Unfortunately, that has not happened so far.
@ agent smith, codfather et al: Thanks. I feel the same way, at least it's sending a message if nothing else.
@any shareholder: voting for officers: I just received materials asking shareholders to vote for executive officers. I will vote against C. Bunka. Does anyone have any advice about whether to vote for or against any of the others? They are:
2) John Docherty
3) William (Ted) McKechnie
4) Nicholas Baxter
5) Albert Reese
There is also a question about compensation: "Approval of Executive Officer Compensation for the 2021 Fiscal Year". I will vote against.
Jrhttps://www.colonialstock.com/Owner/proxyDocs/444.2022.ProxyCard.pdf
@Shawking this may be a dumb question, but what does the company do with those shares?
@harlem Is that big news? Seems like it would be . . ..
@ Abundance You want to hide behind legalities? I don't think anyone's saying he did anything illegal. In January 2020 he was quoted as saying that a big part of his plan was to uplist, and bring in a bunch of new investors. "A key facet of that plan is to list on a major US stock exchange, opening up the company to a new pool of investors, Bunka told shareholders." https://www.proactiveinvestors.com/companies/news/910312/lexaria-bioscience-planning-to-list-on-a-major-us-exchange-in-2020-says-ceo-910312.html
Except, that hasn't happened, as far as I can tell. You say it wasn't a promise. Okay, but where's the explanation for why it hasn't happened? The uplisting was supposed to make a difference. It hasn't. I don't blame people for being disappointed.
@Gaffer thanks
Does anyone know how long the share price can be below $4 and still remain on the NASDAQ?
Thanks, Sanderson. I guess Shawking is right, because I haven't heard anything. I thought I might get a response, because I was polite. Guess that didn't do the trick.
I wrote to IR on Friday, asking them politely if they have any explanation for why the lack of more investors after the reverse split, and also mentioned that people have questions about Bunka's salary given the lack of performance. Will let people know if and when I hear back.
@jtomm: Thanks.
Just something I thought was kind of interesting:
https://sec.report/Document/1348362/000164033421002324/0001640334-21-002324.txt
Lexaria has paid Zacks US$39,000 to provide analyst coverage for a year which includes an on-site visit, the preparation of the Report and four quarterly updates to the Report. The Report contains certain future projections for Lexaria’s revenues for the 2021, 2022 and 2023 fiscal years as well as valuations. A full copy of the Report is attached hereto as Exhibit 99.1.
I can't see the actual report.
@Tonyx re: 33335 Looks about right.
@positail 33311 Yes it's not too bad if you bought shares post split.
If I'm not mistaken Dr. Otiko, CEO of VDRM, is paid $30k a year.
I got my proxy vote message for Lexaria for the annual meeting. Is there any campaign to replace Bunka? None that I know of, but I thought I'd ask. I'm going to vote against him. What about the other board members? Any suggestions?
Does anybody know the story behind the Going Concern section: NOTE 10- Going Concern:
The accompanying condensed consolidated financial statements have been prepared using the going concern basis of accounting, which contemplates the realization of assets and the satisfaction of liabilities in the normal course of business. As of March 31, 2021, the Company was in default on the repayment of certain convertible notes and
promissory notes with an aggregate principal amount of $300,538, which are immediately due and payable. The continuation of the Company as a going concern through March 31, 2021 is dependent upon the continuing financial support from its stockholders or negotiation of repayment term. Management believes the existing shareholders will provide the additional cash to meet the Company’s obligations as they become due.
These factors raise substantial doubt about the Company’s ability to continue as a going concern. These consolidated financial statements do not include any adjustments to reflect the possible future effects on the
recoverability and classification of assets and liabilities that may result in the Company not being able to continue as
a going concern.
@Chuckmunk Is DehydraTech pretty much it for this company? I mean, its reason for being.
I for one would be in favor of a new CEO. Although Mr. Bunka seems like a nice man, the stock has done nothing under his stewardship for years and years. Also, the other members of the board appear to have more solid credentials for this sort of company.
For what it's worth, I came across this on my brokerage account page:
Could DehydraTECH(TM) CBD be Worth $3 Billion a Year to Lexaria?
Today 8:31 AM ET (Newsfile)Print
New York, New York--(Newsfile Corp. - March 9, 2021) - PCG Digital -- Hypertension, or high blood pressure as it's commonly known, affects over three million Americans every year and is a primary or contributing cause of death for 25% of them. On a global scale, hypertension kills roughly 7.6 million people per year.
Lexaria Bioscience, a Canadian biotech firm specializing in cannabinoid research, is hoping to change those numbers. DehydraTECH CBD, the company's revolutionary oral deliverable for hypertension sufferers, is in human clinical trials right now and results are promising.
"Our 2018 human clinical trial showed that DehydraTECH CBD lowers blood pressure by about 5% after just a single 90 milligram dose," said Lexaria CEO Chris Bunka. "Generic CBD doesn't do that. Our objective in our new 2021 clinical studies is to evidence a 10% or greater drop in blood pressure to be competitive with industry demands."
The 2018 European study also showed evidence of DehydraTECH CBD facilitating higher volumes of blood flow to the brain and faster delivery of CBD into the bloodstream. Ensuing studies will determine what that means for hypertension sufferers.
New Human Clinical Studies are Underway in 2021
Lexaria currently has three human clinical studies about to commence, using 300 to 450 milligram doses. In comparison, GW Pharmaceuticals is administering up to 1200 milligrams of Epidiolex, an FDA-approved CBD-based anti-seizure medicine for children, and even at those higher doses side effects have been minimal.
"In the hypertension industry, drugs that provide a 10 to 20 percent reduction in blood pressure are generally successful," Bunka adds. "We are confident we can get to that level and expect our studies to provide evidence supporting that over the next six to nine months."
DehydraTECH CBD utilizes a patented dehydration process that changes how the body senses and absorbs drugs orally. In earlier clinical trials, DehydraTECH CBD has been proven to deliver over 300% more CBD than generic CBD in less than 30 minutes.
Positive results in the human clinical studies would provide more evidence for consideration of DehydraTECH CBD as a regulated form of CBD, a status in the cannabinoid sector that only Epidiolex has earned to date. Bunka and his team are confident they will get there.
Hypertension Relief is a $30 Billion Market
There are obvious health care benefits to developing an effective cannabis-based hypertension treatment. Financially, a success in this area would be huge for Lexaria. In 2019, the market for antihypertensive drugs was worth $26.1 billion.
By comparison, the pediatric anti-seizure market that Epidiolex serves is worth ~$1 billion per year. GW Pharmaceuticals was just purchased for $7.2 billion by Jazz Pharmaceuticals, a major Big Pharma player. In the United States alone, there are three antihypertension drugs that have recorded between $1 and $3 billion in annual sales:
Diovan, manufactured by Novartis, had $60.8 billion in lifetime sales between 1997 and 2012. It has since been replaced by a generic version called Valsartan.
Amlodipine, a calcium channel blocker known more commonly as Norvasc, has been on the market since 2005. By September 2019, it had been prescribed 75,201,622 times.
Lisinopril, a medicine used to treat high blood pressure and heart failure, was prescribed over 89 million times within one year of its introduction in July 2011.
None of these drugs are cannabis-based and each has unwanted side effects. Assuming Lexaria reaches that level, the company could be looking at a drug with over $1 billion in annual revenue after FDA approval. What might Lexaria be worth at that point?
With existing patents granted in the EU and Australia already secured for the treatment of heart disease using cannabinoids, Lexaria is confident it will receive regulator approvals in multiple geographic markets in due time. Investors seem to agree. As of this morning, Lexaria (LEXX) was up over 25% since first listing on Nasdaq in January.
Lexaria is Open to Partnership Opportunities
CEO Bunka sees the opportunity and is open to partnering with a larger company. "Lexaria would be open to partner with Big Pharma to deliver this potentially life-saving treatment," he said. "Our business model includes out-licensing our technology for appropriate royalty streams."
Companies with a royalty revenue stream have been known to earn a valuation of up to 30 times annual revenue. If you do the math on the partnership possibilities, Lexaria could be looking at valuations as high as GW Pharmaceuticals recently reached. That's not unrealistic in this sector.
With Lexaria, it's possible to happen soon as they are not reliant on government funding to conduct clinical studies: All existing trials are 100% funded from internal company resources. Therefore, the ramp-up to commercialization can be faster, and these potential revenues, can have a significant impact on its current market cap of only $35 million.
"The Jazz acquisition of GW shows that Big Pharma is finally taking cannabinoid research and CBD-based medical treatments seriously," Chris Bunka said. "One of the big benefits of CBD is its modest side effect profile - pharma simply HAS to research this thoroughly in the interests of public health."
This story will be worth keeping an eye on as it unfolds. Results from Q1 studies of DehydraTECH CBD will be made available starting around May, with human clinical study results to follow soon thereafter. If all goes well, the path to FDA approval could become clearer. Relief for hypertension sufferers can't come soon enough.
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28 cents a share when divided by 30. Much better than it was.
@ codfather VDRM looks like an interesting company.
@Millenial Investor I do notice just now an unsettled cash amount of $38, so maybe that's the reversal. Go figure. I asked them about it last night, and they said this sort of charge is listed in the fee structure. They didn't say anything about it being reversed, but if they do, then great.
@Millenial Investor Yes, I got charged the $38 reorganization fee at TDAmeritrade, but I don't see the fee reversal.
@toasted oats At the moment it looks like it's 4.68
@Abundance Thanks for posting this. I hadn't read anything about this since I think August, when the company said it thought FDA would approve its phase 1 trial any day. I guess that turned into four months. The BTI stock jumped up in April after the original announcement. KBP developed an apparently successful vaccine for ebola a few years ago called ZMAPP. Even though it won't be the first, it seems like it could be a real big deal if the vaccine can be stored at room temperatures.
They say markets are happy that Republicans keep control of the senate, at least for now. Which is a bit of a contradiction, since before everyone said markets wanted a stimulus. https://www.reuters.com/article/us-usa-stocks/wall-street-set-to-surge-as-blue-wave-risks-fade-idUSKBN27L0XK
Not really sure if this means anything, I just noticed it. https://www.marketwatch.com/story/british-american-tobacco-buys-dryft-oral-unit-2020-11-03
I am just curious, does anyone know why lxrp did so well in the 2006-2008 timeframe? Was it just part of a bubble?