Read this it's good advice and insight I promise
Some folks here, you know who they are, do not have your best interest at heart, they are likely buying and selling on small pumps. The more you dig into this company the more it looks bad. There's a reason they've never produced any value.
In my younger years I made some good money on this company, knowing full well it was likely trash but it was a good trade when weed what the hottest thing in the markets. I held a bit longer and lost a bit of it. I keep an eye on LEXX, mostly just to see if there are small trades to be made to make some quick money, because when it moves, it moves a lot.
Long-term, this is absolutely not a buy and hold company, its ALWAYS comes back down. I am a professional investor primarily in biopharma. I have traded this stock here and there on the side. I made a lot of money of GWPH as they were developing Epiliodex.
There is a right way and a wrong way to develop drugs, and these little side studies by LEXX are barely even "proof of concept" and the concept they are proving has already been proved. To get FDA approval for something that already exists it needs to exhibit a clear difference and benefit to the patient. Dehydratech is a great technology if it does that they say, and could be very useful, but it's not good enough for LEXX to do anything other than maybe license it to others.
Every company in this space is very aware of what everyone else is doing, so it's safe to say that any potential partners, if they've even been spoken to, don't see a tremendous benefits to LEXX's delivery platform. Altria, for example, put a paltry amount of money as a call option into LEXX, then decided it wasn't even worth pocket change to put more in.
Those thinking Altria missed out...you don't know more than them. The best advice I can give you is to sell this PoS, it's barely a viable company with nothing developed and almost no progress and no money.
Now here is a very important part if they want to advance any trials AT ALL.
- The company has $7mm of cash, they would need A LOT more to even get data that a larger pharma would care about. The market cap is $12mm...so if they even want to raise $10mm, they would dilute shareholders by almost 50%...That's the main problem with tiny biotech companies....raising ANY cash is insanely dilutive.
I am not a "basher," which is what pumpers refer to someone who says negative things about a company. I am not short this stock, I'd love for it to succeed and I'll keep checking in here and there. I know a lot of folks here are just saying positive things to get new people and others to keep the faith in this company, but if you are a small retail investor hoping for a lifechanging stock win, I can almost guarantee you, the best return in the foreseeable future with this stock, will be the tax savings that will come from selling. Keep an eye out, they will raise more money and the stock will not go up in a significant way until that happens.
AI
