$LXRP --- $LEXX
LXRP is expected to open today on the NASDAQ. The new trading symbol will be LEXX and if LEXI's financials prove out, together with increased CBD orders and news about who the big name customer is, Lexaria may become a true winner and a money maker as well.
What kind of customer are they talking about?
Lexaria Bioscience has broadened its COVID-19 drug exploration program, and they believe its DehydraTech has the potential to significantly increase bio-availability, safety, and efficacy for many oral antiviral medications. This development is expected to make oral antiviral drugs work more effectively for better therapeutic outcomes and at lower doses than are otherwise necessary in order to minimize unwanted side effects. In turn, this may also make the oral route of administration a viable alternative to injection. One such drug of note is the antiviral remdesivir. This is a game changing and disruptive technological development.
Yesterday, LXRP did a one for 30 reverse split in order to qualify for the NASDAQ, and is anticipated to list with a new symbol LEXX today. Opening price is expected to be $7.50 per share once fully approved and listed.
I checked this morning and as of 5:00am central it comes up as LXRPD on OTC, but on TD Ameritrade it comes up as LEXX and is listed as NASDAQ. In conjunction with this up-listing, the company intends to raise 1.8 million dollars.
Listing on a major U.S. exchange should not be overlooked because NASDAQ is backed by serious money, and media is not so shy about suggesting major exchange listed stocks as opposed to OTC listed companies. Chris Bunka (CEO of Lexaria) has stated numerous times he needed this listing to garner the attention of the big pharmaceutical companies, big tobacco, and big beverage companies he intends to partner with. Potentially, this up-listing could be just the beginning, and no one knows where it might end up.
If fully listed on NASDAQ today, Lexaria has accomplished a major feat that many OTC companies only talk about or merely dream of doing. Today, a new reality may dawn.