Lexicon slumps after Sanofi pulls out of deal
Shares of USA-based Lexicon Pharmaceuticals (Nasdaq: XRX) plummeted more than 50% to $2.82 in after-hours trading on Friday, after Sanofi (Euronext: SAN) revealed that it was pulling out of a collaboration on the development and commercialize Zynquista (sotagliflozin) for controlling blood sugar levels in type 1 and 2 diabetics.
The French pharma major’s decision to terminate the deal followed the release of mixed results in three Phase III studies.
Top-line results of the three studies are as follows:
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