Lexicon Pharma beats by $0.20, beats on revs:
- Reports Q4 (Dec) loss of $0.31 per share, $0.20 better than the Capital IQ Consensus of ($0.51); revenues fell 81.9% year/year to $23 mln vs the $15.56 mln Capital IQ Consensus.
- Sotagliflozin: Results from this third Phase 3 clinical trial are expected in mid-2017. Lexicon also expects to report additional efficacy and safety data in 2017 from the inTandem1 and inTandem2 studies.
- In late 2016, Lexicon initiated a Phase 1 clinical trial of LX2761, an orally-delivered small molecule compound for the potential treatment of diabetes. LX2761 is an internally generated compound and is designed to inhibit SGLT1 locally in the gastrointestinal tract without any significant inhibition of SGLT2 in the kidney. Also in 2016, Lexicon obtained exclusive research, development and commercialization rights to LX9211, a development candidate for neuropathic pain that was jointly developed by Lexicon and Bristol-Myers Squibb Company as part of their neuroscience drug discovery alliance. Additional small molecule compounds acting through the same target as LX9211 are also included in the exclusive arrangement. LX9211 has completed IND-enabling studies, with Phase 1 clinical trials anticipated to commence during 2017.
- "With this week's FDA approval of XERMELOTM Lexicon has become one of a select few biopharmaceutical companies to bring to market on its own in the United States an innovation that was first discovered in its own labs."
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