Maintaining Our Lexicon FVE Following Zynquista's Europe Approval and Modest 1Q Xermelo Growth
Lexicon's first-quarter results were roughly in line with our expectations, as strong cost control balanced continued slow uptake of carcinoid syndrome drug Xermelo, which grew 24% year over year to $6.7 million. We're lowering our Xermelo estimates, but we're maintaining our $5 per share fair value estimate, as this hit is countered by lower operating expenses and Zynquista's recent approval in type 1 diabetes in Europe. Given Xermelo's slow launch and very high uncertainty around Zynquista's s...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.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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