The Sanofi termination is a disaster for LXRX shareholders and the cash burn will increase dramatically
On July 25th, Lexicon Pharmaceuticals (LXRX) received notice from Sanofi (SNY) ‘purporting’ to terminate their key alliance around the SGLT2 inhibitor sotagliflozin. While this appeared to come as a surprise to Lexicon shareholders and the Company’s management, it should have been no surprise to anyone who took a good look at the program and the current competitive landscape in both SGLT2 inhibitors and related diabetes treatments.
At this year’s JP Morgan conference on