Lexaria Bioscience Corp (OTCMKTS:LXRP) On A Bull Run

While other pot stocks have pulled back after the November highs, Lexaria Bioscience Corp (OTCMKTS:LXRP) is running up the charts making new 52 week highs. This comes as investors are discovering LXRP and that it's much more than just a play on cannabis. LXRP is a technology company with a strong patent portfolio for the delivery of bioactive compounds. Lexaria's patented technology has been lab tested to demonstrate important benefits to consumers including shortened time of onset and improved bioavailability for cannabinoid edibles. Digging deeper, we take a look at how LXRP's bull run might just be getting started.First up, a little background on the company. Lexaria Bioscience Corp is a food biosciences company with a proprietary technology for improved delivery of bioactive compounds. The Company's lipophilic enhancement technology has been shown to enhance the bioavailability of orally ingested cannabinoids, while also masking taste. This technology promotes healthy ingestion methods, lower overall dosing and higher effectiveness in active molecule delivery. The Company's technology is patent-protected for cannabidiol (CBD) and all other non-psychoactive cannabinoids, and patent-pending for Tetrahydrocannabinol (THC), other psychoactive cannabinoids, non-steroidal anti-inflammatory drugs (NSAIDs), nicotine and other molecules.The latest news from LXRP is that the company filed international patents on the back of its U.S. Patent No. 9,474,725, Cannabinoid Infused Food and Beverage Compositions and Methods of Use Thereof. Lexaria has now filed patents in Canada, Australia, Japan, China, India and all 37 countries belonging to the European Patent Convention. Lexaria also filed two new international patent applications under the PCT. These two applications are entitled Methods For Formulating Orally Ingestible Compositions Comprising Lipophilic Active Agents and Stable Ready-To-Drink Beverage Compositions Comprising Lipophilic Active Agents. These two patent applications were original filed in the United States on December 9, 2015, and are now being filed internationally.

In November, Lexaria entered into a letter of intent with Hempco Food and Fiber Inc (HEMP.V). Pursuant to the LOI, Hempco and Lexaria will begin lab tests and formulations to evaluate proprietary methods of applying Lexaria's newly-patented technology for Hempco's customer needs and demands. Hempco's food products may be enhanced with Lexaria's patented technology. LXRP CEO Chris Bunka said:

"I could not be happier than to engage in this LOI with Hempco. We immediately begin product formulation testing and evaluation, and will work with all types of hemp food products such as proteins, seeds, oils and derivatives thereof, as we determine the most advantageous methods of embedding superior technology into Hempco's product mix."

Lexaria also formed a JV in November with NeutrisSci International Inc (NU.V). This JV will develop, produce and sell a line of healthy edible cannabinoid products using Lexaria's patented technology and Neutrisci's proprietary pterostilbene tablet formula and international distribution network. NeutriSci specializes in innovative nutraceutical products and this JV expects to combine Lexaria's patented technology for improved taste and absorption with NeutriSci's proprietary sublingual zero-sugar tablet form factor to create new cannabinoid edible products.

Lexaria also cut the prices of its ViPova tea products in November. All ViPova black and herbal teas are priced at US$15.99 for a box of 16 teabags. Previously, 16 teabags were priced at US$48, making this a price reduction of 73%. ViPova teas can be purchased at vipova.com and at participating retailers.

Going forward, Lexaria has seven other patent applications pending in the U.S. and internationally. These patents and their approvals will strengthen the Company's position and accelerate additional future technology out-licensing deals. We expect more licensing deals to be announced over the coming weeks and this will further drive LXRP's share price higher.

Currently trading with a market cap of $24 million, LXRP is an exciting story among pot stocks. LXRP is much more than just any other pot stock, however. It's a company with a breadth of IP that allows it to sign licensing deals and create multiple revenue streams. Judging from last week's breakout on heavy volume, LXRP looks to be a top pick in the sector and one which investors need to keep an eye on. We will have much more info on LXRP as things develop. For the latest updates on LXRP, sign up below!

Disclosure: We have no position in LXRP and have not been compensate for this article.