24/7 Market News Snapshot 21 August, 2024 – Lexicon Pharmaceuticals, Inc. (NASDAQ:LXRX)

August 21, 2024

DENVER, Colo., 21 August, 2024 (247marketnews.com) – (NASDAQ:LXRX) are discussed in this article.
Lexicon Pharmaceuticals, Inc. (LXRX) has demonstrated robust market activity, opening today at $1.69 and climbing to $1.905, reflecting a notable increase of approximately 13.39% from the previous close of $1.680. This surge in stock price is accompanied by a trading volume of 5.32 million shares, indicating strong investor interest and potential for further upward movement. Analysts suggest that if this positive trend persists, LXRX could be poised to test resistance levels at $2.00. Investors are encouraged to keep a close watch on volume patterns to validate the sustainability of this momentum in upcoming trading sessions.

On the corporate front, Lexicon Pharmaceuticals is gearing up for a significant event with the U.S. Food and Drug Administration’s Endocrinologic and Metabolic Drugs Advisory Committee meeting scheduled for October 31, 2024. The committee will evaluate ZYNQUISTA™ (sotagliflozin) as a supplemental treatment alongside insulin therapy to improve glycemic control in adults with type 1 diabetes and chronic kidney disease (CKD). The FDA has affirmed that the Prescription Drug User Fee Act (PDUFA) goal date remains unchanged at December 20, 2024.

Dr. Mike Exton, the CEO of Lexicon, expressed optimism about the forthcoming advisory meeting, emphasizing the company’s commitment to presenting comprehensive evidence supporting the favorable risk-benefit profile of sotagliflozin for managing glycemic control in individuals affected by type 1 diabetes and CKD. The advances in Lexicon’s drug development pipeline, including the recent launch of INPEFA® (sotagliflozin) in the U.S., reaffirm the company’s dedication to innovating treatment options across various therapeutic areas, including neuropathic pain and diabetes. As Lexicon prepares for this critical juncture, it remains focused on its mission to develop transformative medicines for patients in need.

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