Lexaria Bioscience Corp (LEXX)

[Shawking]

Ted Ohashi-Page 9
https://4495825a-d729-4d8f-ade8-e78f828e1c8d.usrfiles.com/ugd/449582_5aceab90777d4af28a0f0f7e5fdf2d0f.pdf
Question of the Week
“I received a lot of positive feedback following my interview with Chris Bunka, Chief Executive Officer
of Lexaria Bioscience (NASDAQ: LEXX) (NASDAQ: LEXXW) last week however, the one issue several people questioned was the delay in receiving results from the Hypertension #3 study.
The questions I received about Hypertension #3 covered a wide range of issues including:
1. It is hard to believe the results have been in for over three months and haven’t been analysed.
2. If there was good news, it would have been reported right away.
3. Bad news is always late.
4. How can you start Hypertension #4 when #3 hasn’t been completed?
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Let me start out by saying I have known and followed Chris Bunka for six years now and he has never
once lied to me. I’m not saying all of his expectations have come to fruition exactly as anticipated but
in business, not everything works out as you expect. This is a totally normal characteristic of operating
a company. I believe Bunka is a person of high integrity and character.
I asked Lexaria Bioscience (CSE: LXX) (NASDAQ: LEXX) (NASDAQ: LEXXW) Chief Executive Officer Chris Bunka about your concerns. Here are his responses.
• Without equivocation, we simply do not have the results yet. No fudging.
No hedging. We do not have the results. We engaged two additional PhDs ourselves and there are another six that were added through our regulatory consulting firm. We are struggling to keep up with the all the compliance and data assessment.
• To give you some idea of what is involved in one of these larger studies,
our upcoming human nicotine study will produce approximately 1,200 vials of blood. Each of
those vials will be analysed for around a dozen different variables. Each sample also has to be
properly processed, labelled and stored. That's around 14,000 pieces of data that need to be
reviewed. It simply takes a long time to complete.
• We have had a very active testing program going on in 2021 to 2023 but we do have limited
resources. As a result, we have to prioritize our activities and are staying focussed on what we
believe are the most important priorities for achieving commercialization. We believe getting
Hyper H21 4 launched on time is far more important than data analysis from Hyper H21 3. The
Hypertension #3 analysis is important but not as important from a commercial point of view.
• Please impress upon your readers that we have a lot of work to do and we are going as fast as
week can. Anyone who thinks there is something else afoot is mistaken.
Conclusion: as closely as investors might follow a company, it is never the same as being there day
by day. I believe Bunka has provided a clear and concise answer to the question. As I have said many
times in the past
few quarters, I believe LEXX has a
major opportunity
in hypertension.
That is why management has decided to carry
their work in hypertension further along into the FDA approval process. If they are successful, the
results for shareholders will be remarkable, in my opinion. I have consistently had Lexaria Bioscience
(NASDAQ: LEXX) (NASDAQ: LEXXW) as one of my favourites. Perhaps this gives readers some
further input into why I rate them so highly.