Zynquista's Risks Highlighted in FDA Advisory Committee Meeting; Lowering Our FVE to $5.80
After a very mixed view of Zynquista's value in Type 1 diabetes from a U.S. Food and Drug Administration advisory committee on Jan. 17, we are lowering our fair value estimate for Lexicon to $5.80 per share. We reduced our assumed probability of approval for the drug in this indication from 70% to 40% after the meeting, reduced our peak market share assumption, and slightly increased research and development spending in 2019 and beyond to account for the potential need for additional clinical da...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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