Common stock and warrants of Kelowna’s Lexaria Bioscience Corp. began trading on the Nasdaq Capital Market on Tuesday.
The company, whose primary product is the DehydraTECH drug delivery technology, also announced the pricing of a public offering that is expected to gross approximately $9.6 million.
Lexaria plans to use the net proceeds from the underwritten public offering for research and development studies, the patent and legal costs and general working capital purposes.
The Kelowna company sold its THC-related assets in November to prepare for its uplisting to Nasdaq.
DehydraTECH improves the way active pharmaceutical ingredients enter the bloodstream by promoting healthier oral ingestion methods and increasing the effectiveness of fat-soluble active molecules, thereby lowering overall dosing.
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