Maintaining Lexicon FVE After 1Q; Opportunity for Sotagliflozin Differentiation in 2017
We’re maintaining our $21 per share fair value estimate for Lexicon after first-quarter results, as our bullish view on potential sales of Lexicon’s first drug is balanced by the expected ramp-up in operating expenses in 2017. Lexicon’s first drug, Xermelo (telotristat ethyl) was approved in late February by the U.S. Food and Drug Administration as a first-in-class treatment for carcinoid syndrome, and we think U.S. market potential (among patients no longer responding to standard somatostatin t...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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