Is Lexicon Pharmaceuticals a Buy?
It's been a rough year for Lexicon Pharmaceuticals (NASDAQ: LXRX). In fact, it's been a rough five years for the pharmaceutical stock, which has lost 49% in that span.
The business has struggled to generate much momentum for its lone drug product, Xermelo, a treatment for carcinoid syndrome diarrhea. Management once expected the product to generate peak annual sales of up to $350 million. Sales during the first nine months of 2019 stood at just $24 million.
Xermelo hasn't even been the most pressing concern for investors this year. That distinction belongs to Zynquista (sotagliflozin), the company's lead drug candidate and a potential treatment for type 1 and type 2 diabetes. Sanofi (NASDAQ: SNY) walked away from a collaboration in September, but Lexicon remains committed to developing the asset by itself. It's a risky move.
Source Fool.com
