Lexicon Sees In-Line 3Q, Heads Toward More Data and First Approval; Shares Undervalued
Following third-quarter results, we’re maintaining our $21 per share fair value estimate for Lexicon as additional data and a first drug approval are likely catalysts over the next four months. Costs are rising as Lexicon continues to run several Phase 3 sotagliflozin studies (type 1 diabetes) and as commercialization preparation continues for the potential U.S. launch of carcinoid syndrome drug telotristat ethyl in 2017 (we expect approval in February). With Lexicon likely to begin seeing reven...Lexicon Pharmaceuticals is a biopharmaceutical company. The company is commercializing XERMELO? (telotristat ethyl), an orally-delivered small molecule drug for the treatment of carcinoid syndrome diarrhea in combination with somatostatin analog (SSA) therapy in adults inadequately controlled by SSA therapy. The company is developing Zynquista? (sotagliflozin), an orally-delivered small molecule drug candidate, as a treatment for type 1 2 diabetes. The company is also developing sotagliflozin as a treatment for type 2 diabetes, heart failure and chronic kidney disease. The company is developing LX9211, an orally-delivered small molecule drug candidate, as a treatment for neuropathic pain.
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