Lexicon Pharmaceuticals, Inc. (NASDAQ: LXRX) sparked Friday, after the company reported positive top-Line results in Phase 3 inTandem3 study for its flagship diabetes medication.
Sotagliflozin is an investigational dual SGLT1 and SGLT2 inhibitor, for the treatment of patients with type 1 diabetes on any background insulin therapy. The study met its primary endpoint, demonstrating the superiority of sotagliflozin 400 mg compared to placebo in the proportion of patients with A1C <7.0% at Week 24 and no episode of severe hypoglycemia and no episode of diabetic ketoacidosis (DKA) after randomization.
Lexicon teamed up with Sanofi in November 2015, Sanofi granting Lexicon an exclusive, worldwide, royalty-bearing right and license to develop, manufacture and commercialize sotagliflozin.
Lexicon is responsible for all clinical development activities relating to type 1 diabetes and retains an exclusive option to co-promote and have a significant role, in collaboration with Sanofi, in the commercialization of sotagliflozin for the treatment of type 1 diabetes in the U.S.
Lexicon is involved with gene science based on Nobel Prize-winning technology to discover and develop precise medicines for patients with serious, chronic conditions. Through its Genome5000™ program, Lexicon scientists have studied the role and function of nearly 5,000 genes over the last 20 years and have identified more than 100 protein targets with significant therapeutic potential in a range of diseases.
The company will be presenting its clinical data starting this weekend and extending into Tuesday, at the American Diabetes Association’s Scientific Sessions in San Diego.
The company’s stock improved $1.02, or 6.6% to $16.38, mid-morning Friday, within a 52-week trading range of $13.01 to $19.62.