Here's Why Lexicon Pharmaceuticals Is Collapsing Today [The Motley Fool]
Lexicon Pharmaceuticals, Inc. (LXRX)
Last lexicon pharmaceuticals, inc. earnings: 4/27 07:00 am
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Source: The Motley Fool
Here's Why Lexicon Pharmaceuticals Is Collapsing Today Sanofi is walking away from an important collaboration, leaving shareholders wondering what's next. Shares of Lexicon Pharmaceuticals ( NASDAQ:LXRX ) fell over 74% today after the company told investors that Sanofi ( NASDAQ:SNY ) was terminating their collaboration related to Zynquista (sotagliflozin). The news, announced on Friday afternoon, was delivered alongside mixed preliminary results from a phase 3 clinical trial for the drug candidate in type 2 diabetes. While Lexicon Pharmaceuticals put a positive spin on the preliminary results and said it hasn't had time to fully evaluate the data, the fact that Sanofi is walking away told investors everything they needed to know. The smaller company will regain global rights to the drug candidate, but investors clearly aren't optimistic about its future. As of 11:46 a.m. EDT, the stock had settled to a 71.9% loss. The term "mixed results" summarizes the drug's existence to date . Le
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LXRX
News
- Lexicon to Reposition as Clinical Development-Focused Company Following Regulatory Update From FDA [Yahoo! Finance]Yahoo! Finance
- Lexicon to Reposition as Clinical Development-Focused Company Following Regulatory Update From FDAGlobeNewswire
- Lexicon Appoints Ivan H. Cheung to Board of Directors [Yahoo! Finance]Yahoo! Finance
- Lexicon Appoints Ivan H. Cheung to Board of DirectorsGlobeNewswire
- Lexicon Pharmaceuticals (NASDAQ:LXRX investor three-year losses grow to 80% as the stock sheds US$107m this past week [Yahoo! Finance]Yahoo! Finance
LXRX
Earnings
- 11/12/24 - Miss
LXRX
Sec Filings
- 11/20/24 - Form 8-K
- 11/14/24 - Form SC
- 11/13/24 - Form 10-Q
- LXRX's page on the SEC website