Why Lexicon Pharmaceuticals Is Down 11% Today

After Lexicon Pharmaceuticals (NASDAQ: LXRX) announced yesterday the publication of phase 3 results for its lead diabetes drug, sotagliflozin, in the New England Journal of Medicine, its shares are losing 11% of their value at 11:45 a.m. EDT.

Sotagliflozin is a novel diabetes drug that attempts to improve glycemic control by targeting both SGLT1 and SGLT2 for the first time.

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Source: Fool.com