Welcome to our dedicated page for Lexicon Pharmaceuticals news (Ticker: LXRX), a resource for investors and traders seeking the latest updates and insights on Lexicon Pharmaceuticals stock.
Lexicon Pharmaceuticals, Inc. reports developments as a Nasdaq-listed biopharmaceutical company focused on the discovery, development and commercialization of medicines for human disease. Company news commonly covers pipeline updates in neuropathic pain, hypertrophic cardiomyopathy, obesity, metabolic disorders and other cardiometabolic indications, including clinical data presentations for sotagliflozin and pilavapadin.
Recurring updates also include operating and financial results, regulatory interactions, material agreements, financing arrangements and governance or shareholder-voting matters. Coverage of LXRX often connects capital-structure actions with the resources used to advance clinical and preclinical drug candidates.
Lexicon Pharmaceuticals (Nasdaq: LXRX) has entered into an asset purchase agreement to sell XERMELO (telotristat ethyl) to TerSera Therapeutics for approximately $159 million, including a $155 million upfront payment. Lexicon may additionally receive up to $65 million in milestone payments and mid-teens royalties on net sales in biliary tract cancer. The agreement allows Lexicon to focus on LX9211 and reduce debt. The transaction is expected to close in Q3 2020, pending customary conditions.
Lexicon Pharmaceuticals (LXRX) reported a net loss of $69.1 million for Q2 2020, significantly higher than $23.0 million in the same period of 2019. Despite this, U.S. net sales of XERMELO increased by 21% year-over-year, reaching $9.0 million. Research and development expenses surged to $57.3 million due to external clinical costs following the end of its alliance with Sanofi. As of June 30, 2020, cash and investments totaled $201.9 million, down from $271.7 million at the end of 2019. The company continues to progress with its clinical pipeline, including a Phase 2 study for LX9211.
Lexicon Pharmaceuticals (LXRX) announced topline data from four Phase 3 studies of sotagliflozin for type 2 diabetes, including SOTA-MONO, SOTA-SU, SOTA-GLIM, and SOTA-INS. All studies achieved their primary objectives of reducing A1C levels. The findings indicated a generally favorable safety profile, with some gastrointestinal side effects noted. Notably, Lexicon stated that it does not plan to seek regulatory approval for sotagliflozin without a strategic partnership. These results will be presented at upcoming medical congresses.
Lexicon Pharmaceuticals (Nasdaq: LXRX) announced the presentation of four posters focusing on XERMELO (telotristat ethyl) at the Cholangiocarcinoma Foundation Annual Conference from July 22-24, 2020. Key studies include safety results of a Phase 2 trial combining telotristat ethyl with first-line chemotherapy for advanced biliary tract cancer. XERMELO, the first oral therapy for carcinoid syndrome diarrhea, is approved in multiple countries and targets tryptophan hydroxylase to reduce serotonin production in metastatic neuroendocrine tumors.
Lexicon Pharmaceuticals (Nasdaq: LXRX) presented six posters for Zynquista (sotagliflozin) at the 80th American Diabetes Association Scientific Sessions. In the Phase 3 CKD-3 study, sotagliflozin 400 mg met its primary endpoint, significantly reducing A1C levels by -0.24% compared to placebo. However, the CKD-4 study did not meet its primary endpoint, with no significant A1C reduction observed. The safety profile of sotagliflozin, including incidences of hypoglycemia, was comparable to placebo. Sotagliflozin is approved in the EU for type 1 diabetes in certain patients.
Lexicon Pharmaceuticals (Nasdaq: LXRX) announced new data on XERMELO (telotristat ethyl) from a preclinical study assessing its effects on various cancer cell lines, presented alongside the ASCO 2020 annual meeting. The study showed significant tumor growth inhibition in liposarcoma, colon cancer, and cholangiocarcinoma cell lines. This data supports further studies on telotristat ethyl's potential against tryptophan hydroxylase positive cancers. XERMELO is the first approved oral therapy for carcinoid syndrome diarrhea, marketed domestically by Lexicon and internationally by Ipsen.
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