Lexaria Bioscience Files 2024 10-K

TL;DR

Lexaria Bioscience filed its 2024 10-K, covering fiscal year ending Aug 31. Check financials and operations.

AI Summary

Lexaria Bioscience Corp. filed its 10-K for the fiscal year ending August 31, 2024. The company, incorporated in Nevada, operates in the pharmaceutical preparations sector. Its principal business address is in Kelowna, BC, Canada. The filing covers the period up to November 26, 2024, and includes details on subsequent events and corporate activities.

Why It Matters

This filing provides a comprehensive overview of Lexaria Bioscience's financial health and operational status for the past fiscal year, crucial for investors and stakeholders to assess the company's performance and future prospects.

Risk Assessment

Risk Level: medium — As a company in the pharmaceutical preparations sector, Lexaria Bioscience faces inherent risks related to research and development, regulatory approvals, and market competition.

Key Numbers

• 220,000,000 — Total Assets (Represents the company's total assets as of the fiscal year end.)
• 8,091,650 — Total Liabilities (Represents the company's total liabilities as of the fiscal year end.)
• 15,810,205 — Total Equity (Represents the company's total equity as of the fiscal year end.)

Key Players & Entities

• Lexaria Bioscience Corp. (company) — Filer of the 10-K
• 2024-08-31 (date) — Fiscal year end
• 2024-11-26 (date) — Filing date
• Kelowna, BC, Canada (location) — Business address
• Nevada (location) — State of incorporation

FAQ

Key Financial Figures

• $0.001 — ch registered Common Stock, Par Value $0.001 LEXX Nasdaq Warrants LEXXW Nasd
• $2,360,565 — arch and Development Lexaria incurred $2,360,565 in R&D expense during fiscal 2024. Spec

Filing Documents

• lxrp_10k.htm (10-K) — 1381KB
• lxrp_ex109.htm (EX-10.9) — 123KB
• lxrp_ex1010.htm (EX-10.10) — 97KB
• lxrp_ex191.htm (EX-19.1) — 42KB
• lxrp_ex211.htm (EX-21.1) — 3KB
• lxrp_ex231.htm (EX-23.1) — 2KB
• lxrp_ex311.htm (EX-31.1) — 9KB
• lxrp_ex312.htm (EX-31.2) — 9KB
• lxrp_ex321.htm (EX-32.1) — 6KB
• lxrp_ex322.htm (EX-32.2) — 6KB
• lxrp_ex971.htm (EX-97.1) — 33KB
• lxrp_ex191img2.jpg (GRAPHIC) — 15KB
• 0001640334-24-001787.txt ( ) — 6443KB
• lxrp-20240831.xsd (EX-101.SCH) — 70KB
• lxrp-20240831_lab.xml (EX-101.LAB) — 339KB
• lxrp-20240831_cal.xml (EX-101.CAL) — 49KB
• lxrp-20240831_pre.xml (EX-101.PRE) — 278KB
• lxrp-20240831_def.xml (EX-101.DEF) — 134KB
• lxrp_10k_htm.xml (XML) — 964KB

Business

Business 4 Item 1A.

Risk Factors

Risk Factors 16 Item 1B. Unresolved Staff Comments 22 Item 1C. Cybersecurity 22 Item 2.

Properties

Properties 23 Item 3.

Legal Proceedings

Legal Proceedings 23 Item 4. Mine Safety Disclosures 23 Item 5. Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities 24 Item 6. [Reserved] 26 Item 7.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 26 Item 7A.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 31 Item 8.

Financial Statements and Supplementary Data

Financial Statements and Supplementary Data 31 Item 9. Changes in and Disagreements With Accountants on Accounting and Financial Disclosure 54 Item 9A.

Controls and Procedures

Controls and Procedures 54 Item 9B. Other Information 54 Item 9C. Disclosure Regarding Foreign Jurisdictions that Prevent Inspections 54 Item 10. Directors, Executive Officers and Corporate Governance 55 Item 11.

Executive Compensation

Executive Compensation 61 Item 12.

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters 66 Item 13. Certain Relationships and Related Transactions, and Director Independence 67 Item 14. Principal Accountant Fees and Services 68 Item 15. Exhibits and Financial Statement Schedules 69 Item 16. Form 10-K Summary 70 2 Table of Contents Cautionary Note Regarding Forward-Looking Statements This Annual Report on Form 10-K ("this report") contains forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995. Any statements contained herein that are not statements of historical fact may be forward-looking statements relating to future events or our future financial performance and are based on our present beliefs, assumptions, and information currently available to us. In some cases, forward-looking statements can be identified by terminology such as "may", "will", "should", "could", "targets", "goal", "expects", "plans", "anticipates", "believes", "estimates", "predicts", "potential" or "continue" and other comparable terminology or the negative of these terms. These statements contain predictions and involve known and unknown risks, including the risks in the section entitled "Risk Factors" set forth in Item 1(A) in this report, uncertainties and other factors that may cause our or our industry's levels of activity, performance, achievements, or actual results to be materially different from any future levels of activity, performance, achievements, or results expressed or implied by these forward-looking statements. Although we contend that the expectations reflected herein are reasonable, we cannot guarantee levels of activity, performance, achievements, or future result. Forward-looking statements in this report include statements about, among other things: the status, progress and results of our research programs; our ability to obtain regulatory approvals for, and the level of market o

Business

Item 1. Business Company Overview Lexaria Bioscience Corp. is a biotechnology company dedicated to the enhancement of the bioavailability of a broad range of active pharmaceutical ingredients ("APIs") using our patented DehydraTECH TM drug delivery-enabling platform technology. DehydraTECH combines APIs with specific long-chain fatty acid-rich triglyceride oils and carrier compounds that improve the way they enter the bloodstream, increasing their effectiveness and allowing for lower overall dosing for improved tolerability while promoting healthier oral ingestion methods. DehydraTECH can be used with a wide range of active molecules including glucagon-like peptide-1 drugs ("GLP-1") and glucose -dependent insulinotropic polypeptide drugs ("GIP"), vitamins, pain medications, hormones, phosphodiesterase type 5 ("PDE5") inhibitors, antivirals, nicotine and its analogs, and cannabinoids. Our technology can be applied to a variety of therapeutic indications, including diabetes, weight loss, hypertension and heart disease. DehydraTECH can be implemented in a multitude of ingestible or topically administered product formats including oral suspensions, tablets, capsules, foods, beverages, creams, lotions, and skin patches. It is suitable for use with a variety of product formats including pharmaceuticals, nutraceuticals, over-the-counter products, and consumer packaged goods. DehydraTECH is a technology incorporated into the formulation and manufacturing process of new or existing orally ingestible and topical products. The procedure involves combining the active ingredient as a delivery "payload" together with certain long chain fatty acid-rich triglyceride oils and infusing the mixture into a carrier substrate material. Using controlled dehydration processing, the payload and long chain fatty acid-rich triglyceride oils are reversibly associated together at a molecular level. The newly combined molecules are then integrated into production of the end-product using