Lexicon Pharma rises on strategic review announcement

Lexicon Pharmaceuticals

13/08/2024 15:00

** Shares of drugmaker Lexicon Pharmaceuticals  LXRX.O  rise
4.4% to $1.66
    ** Co announces strategic review of its commercial and
pipeline programs     
    ** Says it will refocus its resources to optimize its
promotional efforts for its heart failure drug, Inpefa, as well
as reallocate resources to support the potential commercial
launch of Zynquista in adults with type 1 diabetes 
    ** Co expects these efforts to result in cost savings of
about $40 million for 2025
     ** Co also plans to reduce its headcount by more than 75,
or about 50% of its current field force, by the end of Q3 of
2024 
    ** Including session moves, stock up 6.5% YTD 

 (Reporting by Sneha S K)
 ((Sneha.SK@thomsonreuters.com;))