Lexicon upgraded to Buy from Hold at Gabelli » 09:1311/1811/18/20
Gabelli analyst Kevin…
Gabelli analyst Kevin Kedra upgraded Lexicon to Buy from Hold.
Lexicon announces SOLOIST, SCORED studies achieve primary endpoint » 08:0111/1711/17/20
Lexicon announced that…
Lexicon announced that both the SOLOIST and SCORED Phase 3 studies achieved their primary endpoints by demonstrating statistically significant reductions in total cardiovascular deaths, hospitalizations for heart failure and urgent heart failure visits in patients treated with sotagliflozin as compared with placebo. In the SOLOIST study, the primary endpoint was achieved with a hazard ratio of 0.67 in people with type 2 diabetes and a recent hospitalization for worsening heart failure. In the SCORED study, the primary endpoint was achieved with a hazard ratio of 0.74 in people with type 2 diabetes and chronic kidney disease with an estimated glomerular filtration rate, or eGFR, of 25 to 60 ml/minute per 1.73 m of body-surface area. The key results from SOLOIST and SCORED were presented at the Late-Breaking Science Session of the American Heart Association, or AHA, Scientific Sessions and simultaneously published in The New England Journal of Medicine, or NEJM, in two separate articles.
|Over a week ago|
Lexicon reports Q3 EPS 71c, consensus 26c » 06:3710/2910/29/20
Reports Q3 revenue $6.6M,…
Reports Q3 revenue $6.6M, consensus $16.87M. "In Q3, we streamlined our operations to prioritize our focus on our advancement of LX9211, a promising drug candidate with potential to become a treatment option for the millions of people living with neuropathic pain. Most people suffering with neuropathic pain experience only limited success with available therapies while enduring substantial side effects," said CEO Lonnel Coats. "We have commenced our first Phase 2 study in diabetic peripheral neuropathic pain and plan to commence our second Phase 2 study in post-herpetic neuralgia shortly with results for both studies expected by the end of next year."
|Over a month ago|
JPMorgan SMid biotech analyst to hold analyst/industry conference call » 09:4410/1410/14/20
CRNX, RUBY, KLDO, MGTA, APTX, AXLA, LXRX
SMid Biotech Analyst Fye…
SMid Biotech Analyst Fye discusses the re-launch of the SMid-Biotech Sector including CRNX, RUBY, KLDO, MGTA, APTX, AXLA and LXRX on an Analyst/Industry conference call to be held on October 14 at 10 am.
Lexicon resumed with an Underweight at JPMorgan » 08:3110/1410/14/20
JPMorgan analyst Jessica…
JPMorgan analyst Jessica Fye resumed coverage of Lexicon with an Underweight rating and no price target. Chronic pain is a large opportunity but LX9211's novel mechanism will have to be proven out in clinical studies, Fye tells investors in a research note. The analyst does not expect the negative sentiment on the stock to reverse in the near term.
Lexicon begins patient dosing in Relief-DPN-1 Phase 2 study » 08:0309/0409/04/20
Lexicon Pharmaceuticals announced the commencement of patient dosing with blinded study drug in RELIEF-DPN-1, a Phase 2 randomized, placebo-controlled, multi-center clinical study of LX9211 for the treatment of diabetic peripheral neuropathic pain. LX9211 is a potent oral small molecule inhibitor of adaptor associated kinase 1, AAK1. "We are pleased to progress with patient dosing in our first proof-of-concept study of LX9211, in patients with diabetic peripheral neuropathic pain," said Praveen Tyle, Ph.D., executive vice president of research and development. "Based on preclinical data, we believe that LX9211 has the potential to significantly reduce pain response without addictive properties while offering a novel therapeutic approach to neuropathic pain through inhibition of AAK1. We are preparing for an additional Phase 2 study in post-herpetic neuralgia that is expected to commence later this year and are evaluating opportunities in other areas of neuropathic pain, based on promising results in multiple preclinical models and a favorable Phase 1 clinical safety profile."
|Over a quarter ago|
Lexicon enters into agreement with TerSera for sale of XERMELO » 08:0207/3007/30/20
Lexicon Pharmaceuticals and TerSera Therapeutics LLC announced that they have entered into an asset purchase and sale agreement for the sale to TerSera of Lexicon's rights, title and interest in XERMELO. Pursuant to the terms of the agreement, TerSera will pay Lexicon approximately $159 million in cash at closing, which includes a $155 million upfront payment and approximately $4 million for existing inventory. Lexicon may receive additional development, regulatory and sales milestone payments of up to an aggregate of $65 million for the development and commercialization of telotristat ethyl in patients with biliary tract cancer. Additionally, Lexicon will be eligible to receive mid-teens royalties on net sales of XERMELO in biliary tract cancer. As part of the transaction, TerSera has agreed to assume the currently ongoing TELE-ABC Phase 2 clinical study of XERMELO in biliary tract cancer patients and offer employment to at least 20 Lexicon employees currently dedicated to XERMELO. The transaction is expected to close in the third quarter of 2020, subject to customary closing conditions.
Lexicon aligns business around R&D assets, with focus on Phase 2 LX9211 program » 08:0107/3007/30/20
Lexicon Pharmaceuticals announced that it is realigning its business around its research and development assets, with a focus on its LX9211 neuropathic pain program, now in Phase 2 clinical development. In that regard: Initiation of Phase 2 Clinical Development of LX9211. Lexicon has initiated patient screening in RELIEF-DPN-1, a Phase 2 randomized, placebo-controlled, multi-center clinical study of LX9211 for the treatment of diabetic peripheral neuropathic pain that is expected to enroll approximately 300 patients at 30 U.S. sites. Lexicon is preparing for additional Phase 2 studies of LX9211, a potent oral small molecule inhibitor of adaptor associated kinase 1, in other areas of neuropathic pain based on promising results in multiple preclinical models of neuropathic pain and a favorable Phase 1 clinical safety profile. Sale of XERMELO to TerSera. Lexicon entered into an asset purchase and sale agreement with TerSera Therapeutics LLC for the sale of Lexicon's XERMELO product and related assets for up to $224 million in upfront and milestone payments, consisting of approximately $159 million in cash at closing and up to $65 million in development, regulatory and sales milestones relating to biliary tract cancer, plus eligibility for mid-teens royalties on net sales of XERMELO in biliary tract cancer. As part of the transaction, TerSera has agreed to assume the currently ongoing TELE-ABC Phase 2 clinical study of XERMELO in biliary tract cancer patients and offer employment to at least 20 Lexicon employees currently dedicated to XERMELO. MTS Health Partners, L.P. served as financial advisor and WilmerHale served as legal counsel to Lexicon. Debt Reduction. Lexicon will use the upfront proceeds from the XERMELO sale to substantially reduce its debt, including full repayment of its $150 million secured term loan.
Lexicon to initiates Phase 2 LX9211 study in neuralgia in Q4 07:1607/3007/30/20
Lexicon to dose first patient in Phase 2 LX9211 study in Q3 07:1607/3007/30/20