Lexaria Bioscience (LEXX) investor relations material

Executive summary

• Revenue for the nine months ended May 31, 2026, was $20,000, a sharp decline from $531,923 in the prior year period, reflecting a strategic shift away from B2B clients toward pharmaceutical applications.

• Net loss attributable to shareholders was $5.0 million for the nine months ended May 31, 2026, compared to $9.2 million in the prior year period.

• The company completed key R&D milestones, including a Phase 1b clinical trial for DehydraTECH-formulated GLP-1 drugs and advanced several animal and human studies.

• Raised $6.5 million in net proceeds from two registered direct offerings during the period.

Financial highlights

• Revenue decreased by $511,923 year-over-year due to the expiration of a major licensing contract and reduced B2B focus.

• Operating expenses for the nine months were $5.0 million, down from $9.2 million year-over-year, mainly due to lower R&D and stock-based compensation.

• Cash and cash equivalents as of May 31, 2026, were $3.5 million, with current liabilities of $0.4 million.

• Net cash used in operating activities was $4.8 million, a decrease from $7.8 million in the prior year period.

Outlook and guidance

• Management anticipates continued operating losses and negative cash flows as R&D programs progress.

• Current cash resources are expected to fund operations through the first quarter of fiscal 2027, but substantial doubt exists regarding the ability to continue as a going concern beyond that without additional financing.