LXRX Stock Alert: Why Lexicon Pharmaceuticals Is Up 100%+ Today

Lexicon Pharmaceuticals (NASDAQ:LXRX) stock is on the rise Thursday after announcing an update for plans to use sotagliflozin to help prevent heart failure.

colorful pills and vials sitting on a table

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A news release from Lexicon Pharmaceuticals reveals that the U.S. Food and Drug Administration (FDA) has given it feedback on the drug. This concerns data from the company’s soloist and scored Phase 3 clinical studies.

These studies were determining the use of the drug to reduce the risk of”cardiovascular death, hospitalization for heart failure, and urgent visits for heart failure in adult patients with type 2 diabetes with either worsening heart failure or additional risk factors for heart failure.”

What this means is that Lexicon Pharmaceuticals is cleared to move forward with a new drug application for sotagliflozin to treat these issues. The company says that this application may come during 2021.

The soloist study for sotagliflozin met its primary endpoint when used in patients with type 2 diabetes who had recently been hospitalized for worsening heart failure. This saw it beat out a placebo. In the case of the scored study, the primary endpoint was also met with success when added to the standard of care for patients when put up next to a placebo.

Lonnel Coats, president and CEO of Lexicon Pharmaceuticals, plans to discuss the positive results that boosted LXRX stock up at the 39th Annual J.P. Morgan Healthcare Conference. This event takes place today at 2:50 p.m. Eastern Time and will be available on the company’s website.

LXRX stock was up 126.5% as of Thursday afternoon.

On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article.

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