Lexaria Bioscience rises after promising update on its cannabis-based formulation
14/04/2022 18:32
** U.S.-listed shares of Canadian drug developer LEXX.O
surge ~16% to $3.81; set to nearly wipe out YTD losses of 18%
through Wednesday close
** LEXX says all data analyses from its simulated pulmonary
hypertension clinical study testing its experimental candidate
have been successfully completed with positive safety and
efficacy findings (https://bit.ly/3ruA0jR)
** Plans to seek approvals from the U.S. FDA to start
clinical testing for the treatment of hypertension under the
investigational new drug process
** More than 47.1 mln shares trade vs 25-day moving avg. of
45,231 shares; Co had 5.9 mln shares outstanding as of Feb. 28
** Stock trading halted multiple times for volatility
(Reporting by Ankur Banerjee)