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Why Lexicon Pharmaceuticals Stock Doubled and Then Some on Thursday – Motley Fool
The FDA delivered a powerful shot of good news to the company.
What happened
Now this is a stock pop. On Thursday, shares of Lexicon Pharmaceutials(NASDAQ:LXRX) jumped 105% (no, that’s not a typo) after the company issued a major positive regulatory update.
So what
The happy news is that Lexicon’s clinical-stage protein inhibitor sotagliflozin performed well enough in phase 3 clinical trials to support a New Drug Application (NDA) from the Food and Drug Administration. This paves the way for sotagliflozin to win approval for treating patients at risk of heart…
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