Lexicon shares dented by fresh FDA rebuke

3 December 2019

Texan biopharma Lexicon Pharmaceuticals (Nasdaq: LXRX) lost more than 10% of its market value on Monday as the company suffered a new setback in the development of Zynquista (sotagliflozin).

Lexicon was partnering with Sanofi (Euronext: SAN) on the development of Zynquista, a dual SGLT1 and SGLT2 inhibitor for the treatment of adults with type 1 diabetes in combination with insulin, but the French pharma major pulled out of the deal in September.

The companies had hoped that it would be the first oral antidiabetic drug approved in the USA together with insulin therapy to improve glycemic (blood sugar) control in adults with type 1 diabetes. Consensus forecasts from EvaluatePharma suggest Zynquista, if it gains approval, could have sales of $1.16 billion by 2022.

This article is accessible to registered users, to continue reading please register for free. A free trial will give you access to exclusive features, interviews, round-ups and commentary from the sharpest minds in the pharmaceutical and biotechnology space for a week. If you are already a registered user please login. If your trial has come to an end, you can subscribe here.

Try before you buy

Free

7 day trial access

Take a Free Trial

All the news that moves the needle in pharma and biotech
Exclusive features, podcasts, interviews, data analyses and commentary from our global network of life sciences reporters.
Receive The Pharma Letter daily news bulletin, free forever.

Become a subscriber

£820

Or £77 per month

Subscribe Now

Unfettered access to industry-leading news, commentary and analysis in pharma and biotech.
Updates from clinical trials, conferences, M&A, licensing, financing, regulation, patents & legal, executive appointments, commercial strategy and financial results.
Daily roundup of key events in pharma and biotech.
Monthly in-depth briefings on Boardroom appointments and M&A news.
Choose from a cost-effective annual package or a flexible monthly subscription

The Pharma Letter is an extremely useful and valuable Life Sciences service that brings together a daily update on performance people and products. It’s part of the key information for keeping me informed

Chairman, Sanofi Aventis UK