Lexicon shares surge as Sanofi touts positive PhIII for their new diabetes drug
Shares of Lexicon Pharma ($LXRX) popped and then faded somewhat Friday morning after the biotech and its Big Pharma partners at Sanofi enthused over positive data from a Phase III study of their diabetes drug sotagliflozin.
Billed as a next-gen improvement on the SGLT2 approach to flushing blood sugar through urine, investigators say that two doses of their drug were able to reduce A1C levels by 0.43% and 0.49% in Type 1 patients, far better than the 0.08% reduction seen in the placebo group.
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