Lexaria Bioscience Corp. (NASDAQ:LEXX), (the "Company" or "Lexaria"), a global innovator in drug delivery platforms, is pleased to announce the engagement of the contract research organization ("CRO") to execute and report on its 2026 Animal Study #2 (GLP-1-A26-2) that will evaluate a number of formulation enhancements with two next-generation glucagon-like peptide-1 ("GLP-1") drugs in animals (the "Study") to explore the potential for improved DehydraTECH performance as well as potentially stake new intellectual property claims.

Contracts with the CRO have been signed; Study design has been completed; formulation manufacturing is underway; and dosing is expected to begin within 30 days.

"The two most successful GLP-1 drugs on the market today are semaglutide and tirzepatide, accounting for more than 95% of the over $70 billion in revenue generated by GLP-1 drugs during 2025," said Richard Christoper, CEO of Lexaria Bioscience. "But, next-generation drugs that offer improved efficacy are under development and Lexaria is intent to establish DehydraTECH's benefits in these drugs that have not yet reached the marketplace."

This is a large Study that will investigate 18 different study arms to evaluate new and novel DehydraTECH compositions. Blood samples will be taken at multiple timepoints through a 24-hour post-dosing period to quantify the pharmacokinetic ("PK") performance of each composition. The primary goals of this Study will be to investigate compatibility of amycretin and retatrutide with DehydraTECH formulation and processing technology, centered around PK performance and tolerability. Amycretin is owned by Novo Nordisk®, and retatrutide is owned by Eli Lilly and Company®.

As is the case with all GLP-1 drugs on the market today, common side effects of next-generation amycretin and retatrutide include nausea and gastrointestinal issues such as diarrhea and vomiting. With this Study and others, Lexaria will hope to establish that DehydraTECH processing of these drugs may lower the severity and instances of side effects.

This Study will also directly compare pill (tablet) formulations to capsules, to better understand the differences between absorption of the active drugs primarily through either the stomach (pills) or the intestine (capsules). Most oral GLP-1 drugs on the market today rely on pill formulations that are primarily absorbed through the stomach.

As in Animal Study #1 announced on April 15, this new Study will evaluate alternative formulations to salcaprozate sodium (SNAC) currently incorporated in Novo Nordisk's® oral Rybelsus® and Wegovy® tablet products. The present Study will include but not be limited to compositions using a different delivery enabling compound, sodium caprate, which has itself been shown to influence gastrointestinal absorption.

Lexaria will update its stakeholders once dosing has begun. The Study is fully funded from existing corporate resources.