The frustrating reality for a lot of biotech shareholders is that while these stocks can enjoy strong runs on thesis-altering data announcements, a lot of time as a biotech investor is spent waiting. Such is the case for Lexicon Pharmaceuticals (LXRX) today. Whatever commercial sales potential remains in Xermelo for its current on-label indication of carcinoid-related diarrhea, it’s going to take time to develop. Likewise with follow-on opportunities in neuroendocrine tumors (or NET) and biliary tract cancer, new drug opportunities like LX9211 in pain, and whatever management may try to advance from its