LXRX - Lexicon Pharma +45% after drug shows benefits for heart patients

Lexicon Pharmaceuticals (LXRX) soars as much as 80% pre-market after saying two Phase 3 studies achieved their primary endpoints by showing statistically significant reductions in cardiovascular deaths, hospitalizations for heart failure and urgent heart failure visits in patients treated with sotagliflozin as compared with placebo.Sotagliflozin is an oral dual inhibitor of two proteins responsible for glucose regulation known as sodium-glucose co- transporter types 1 and 2; the drug has been approved in the European Union for use as an adjunct to insulin therapy to improve blood sugar control in some patients, but has not yet been commercially launched.In an analysis recently published on Seeking Alpha, Stephen Simpson noted that Lexicon Pharma has "meaningfully reduced debt, leaving the company with no significant maturities or conversions and about $111M in quarter-end cash."

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Lexicon Pharma +45% after drug shows benefits for heart patients