Slightly Lowering Our Lexicon FVE Following Xermelo’s Slow Sales Ramp in 3Q
We’re slightly reducing our fair value estimate for Lexicon to $9.70 per share from $11.30 after third-quarter results, as our lower operating expense forecast for the full year was outweighed by our decision to lower our Xermelo forecast and push back the launch of sotagliflozin in type 2 diabetes to 2021. We continue to see very high uncertainty surrounding the value of Lexicon shares, and we note that additional data for SGLT2 inhibitors Forxiga and Jardiance in Type 1 diabetes (expected late...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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