Lexicon surges on licensing deal with Novo Nordisk for obesity drug

Lexicon Pharmaceuticals

28/03/2025 12:06

** Shares of drug developer Lexicon Pharmaceuticals LXRX.O jump 108% to 72 cents premarket

** LXRX says it has entered into an agreement with Novo Nordisk NOVOb.CO to license its non-incretin based experimental drug for obesity and associated metabolic disorders

** Lexicon will be eligible to receive $1 billion in upfront and potential development, regulatory and sales milestone payments

** Novo Nordisk will hold an exclusive, worldwide license to develop, manufacture and commercialize the drug candidate, LX9851

** LXRX is eligible to receive tiered royalties on net sales of LX9851

** Up to last close, LXRX stock down 84% in the past 12 months

 (Reporting by Padmanabhan Ananthan)

 ((Padmanabhan.Ananthan@thomsonreuters.com;))