Why Are Lexaria Bioscience Shares Soaring 45% After Hours? – Lexaria Bioscience (NASDAQ:LEXX)

Lexaria Bioscience Corp. (NASDAQ: LEXX) experienced a dramatic 45.10% surge in after-hours trading on Thursday, climbing to $2.22 from its closing price of $1.53. According to Benzinga Pro data, the biotech company’s regular trading session had already shown strength with a 7.75% gain.

Check out the current price of LEXX stock here.

Sales Agreement Termination Triggers Movement

Lexaria’s after-hours surge came after the company filed with the Securities and Exchange Commission on Thursday, revealing that it had ended its “Capital on Demand” Sales Agreement with JonesTrading Institutional Services LLC. This agreement, initially signed in August 2024, permitted LEXX to sell up to $5 million in common stock through or to JonesTrading, acting as either a sales agent or principal.

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Limited Dilution Impact

In the Form 8-K filing, signed by CEO Richard Christopher, Lexaria disclosed that it sold just 14,995 shares under the now-terminated agreement, raising gross proceeds of $38,236.

Stock Performance

LEXX peaked for the year at $2.30 on January 2, with 57,000 shares traded. However, it hit its yearly low of $0.79 on August 22, with 152,000 shares exchanged. From the January peak to the current close of $1.53, the stock has dropped by 33.47%. On the other hand, since the August bottom, it has surged by 93.67%, with 179,000 shares traded at Thursday’s close.

The Canadian company has experienced a loss of 50.96% over the past year and a 27.14% loss so far this year. Its stock has traded between $0.77 and $3.39 over the last 12 months. The company’s current market capitalization is $29.93 million.

Benzinga’s Edge Stock Rankings indicate that LEXX is experiencing long-term consolidation along with medium and short-term upward movement. Know how its momentum lines up with other well-known names.