Lexicon gains on resubmission of marketing application for diabetes drug

Lexicon Pharmaceuticals

21/06/2024 14:31

** Shares of Lexicon Pharmaceuticals  LXRX.O  rise 3.4% to
$1.81 premarket 
    ** The drugmaker resubmits marketing application for its
experimental diabetes drug, sotagliflozin, to the U.S. Food and
Drug Administration 
    ** Lexicon is seeking approval for sotagliflozin as adjunct
to insulin therapy in patients with type 1 diabetes who have
chronic kidney disease
    ** The agency in 2019 had declined to approve the drug over
risk of diabetic ketoacidosis (DKA)
    ** DKA is a life-threatening condition in which acids called
ketones build up when the body starts to use fat instead of
glucose as a source of energy
    ** LXRX anticipates a six-month review following the
resubmission and potential launch in early 2025
    ** As of last close, stock is up 14.4% YTD 

 (Reporting by Pratik Jain in Bengaluru)
 ((Pratik.Jain@thomsonreuters.com;))