Lexaria Corp. [stockquote symbol=LXRP], developer of a patent-pending process to infuse concentrated amounts of hemp oil within lipids to enhance bioactivity and comfort during the absorption process, recently announced an update on its ongoing laboratory testing and efforts to build out its sales and distribution.
On May 20th, the company announced that it commenced in vitro testing using a human intestinal tissue model to evaluate the cannabidiol (“CBD”) permeability of its patent-pending technology that infuses cannabinoid compounds within lipids. The studies are progressing favorable with the initial phases wrapping up and the final testing phase in progress. Management anticipates publishing the results of the study in late August of this year.
The company also announced that it has received an increase in sales and retail distribution, with its first on-the-ground sales and intelligence efforts beginning in June. As a part of its outreach strategy, the company’s consultants asked store owners and managers to provide feedback on its ViPova™ tea products. The data has been used to optimize subsequent offerings and enhance its marketing materials to best target the end markets.
The company plans on introducing new product flavors and product lines in August and September after spending the early part of the year improving its processes. Combined with a growing number of customers and sales personnel, investors could see the second half of 2015 turn into a major opportunity for revenue generation and growth.
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