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Here's Why Lexicon Pharmaceuticals Is Soaring This Week

TheMotleyFool

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Here's Why Lexicon Pharmaceuticals Is Soaring This WeekPhoto, wide shot, wide-angle lens, Clinical research organization, Blue hour, twilight, cool, ISO1200, slow shutter speed, photo by David Maisel: https://img.theapi.app/temp/0e9d087d-988e-4397-b7cf-6049e2776769.png

Shares of Lexicon Pharmaceuticals (NASDAQ: LXRX) rose over 15% today and have gained about 90% in the last five days as investors continue to digest the fallout from a major partner walking away.

On Sept. 10, the company and Sanofi terminated a collaboration to develop and commercialize Zynquista in type 1 and type 2 diabetes. Sanofi has agreed to pay Lexicon Pharmaceuticals $260 million just to rid itself of the headache from the drug candidate, which has failed to earn regulatory approval in the United States in type 1 diabetes.

As of 12:40 p.m. EDT, the small-cap pharmaceutical stock had settled to a 7.7% gain.

Source Fool.com

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