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News Breaks
April 14, 2014
06:10 EDTLXRXLexicon achieves positive results in Type 1 diabetes clinical trial
Lexicon Pharmaceuticals announced positive, top-line results in a Phase 2 clinical trial of LX4211 in type 1 diabetes, which achieved the primary endpoint of reducing mealtime insulin use as well as several secondary endpoints, including improved glycemic control. LX4211 is an oral, first-in-class, dual inhibitor of sodium glucose transporters 1 and 2 that is designed to lower blood glucose levels through two insulin-independent mechanisms of action. In the placebo-controlled, double-blind, 28-day study, LX4211 reduced the total daily mealtime bolus insulin dose by 32% compared to 6% for placebo, while significantly improving glycemic control with a mean HbA1c reduction of 0.55% in the LX4211-treated group compared to a reduction of only 0.06% with placebo. This improvement was accompanied by significant improvement in the time spent in a glucose range of 70-180 mg/dl, a significant reduction in time in hyperglycemic range, and no increase in hypoglycemia. Multiple measures indicated that LX4211 treatment resulted in reduced variability in blood glucose levels. Overall, LX4211 was well tolerated with no discontinuations of study medication due to adverse events.
News For LXRX From The Last 14 Days
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August 3, 2015
12:30 EDTLXRXOn The Fly: Top stock stories at midday
Stocks on Wall Street were mixed at midday following a busy morning of economic data that included manufacturing readings from around the globe. Also making headlines was the resumption of stock trading in Greece's, whose key index plunged more than 20% upon its opening after being closed throughout July as the country brokered a new financial assistance deal with its creditors. ECONOMIC EVENTS: In the U.S., a news service broke the Institute for Supply Management's embargo early and the group's manufacturing report was released before the opening bell instead of after it, as expected. ISM's manufacturing index for July came in at 52.7, below the consensus forecast for a reading of 53.5. Markit's manufacturing index for July came in at 53.8, matching expectations. Personal income rose 0.4% in June, versus expectations for a gain of 0.3%, while consumer spending rose 0.2%, matching expectations. Construction spending edged up 0.1% in June, missing expectations for spending to have grown 0.6%. In China, the official purchasing managers' index released by the statistics bureau fell to a five month low of 50, compared with the previous month's 50.2 reading, where economists polled by Reuters forecast it to hold. The Caixin China PMI, which focuses more on small and medium sized firms, fell to a two year low of 47.8, which was lower than the preliminary reading of 48.2 for July. In Europe, Markit's final Eurozone manufacturing PMI of 52.4 beat a preliminary estimate of 52.2, but ticked down a hair from June's 52.5 reading. Greece's Athens Stock Exchange reopened for the first time since being closed on June 29 and the Athex composite plunged more than 20% in early trading upon the resumption of trading. COMPANY NEWS: General Motors (GM) reported its U.S. sales jumped 6.4% in July compared to the same month of last year, topping expectations. FCA US, the parent of the Chrysler and Jeep brands, reported U.S. sales increased 6.2% in July and Ford's (F) sales growth of 5% last month compared to last year also beat the consensus forecast. Of note, GM said the month indicates annual light vehicle sales of 17.6M, above the company's 2015 estimate for U.S. industry sales of 16.5M-17M, while FCA US projected U.S. industry sales figures for July at an estimated 17.8M units Seasonally Adjusted Annual Rate, or SAAR. MAJOR MOVERS: Among the notable gainers was Lexicon Pharmaceuticals (LXRX), which jumped 59% after the company reported that a Phase 3 study evaluating the efficacy and safety of telotristat etiprate for carcinoid syndrome patients with metastatic neuroendocrine tumor met its primary endpoint. Wedbush analyst Liana Moussatos raised her price target for Lexicon to $19 from $17 after the report, saying the trial results were "impressive and transforming." Also higher was Frontier Communications (FTR), which gained 9.7% after reporting its second quarter results and raising its FY15 free cash flow view to $825M-$865M from $785M-$825M. Among the noteworthy losers was Tyson Foods (TSN), which fell 9% after the meat producer reported weaker than expected third quarter results and cut its full-year guidance, citing ongoing headwinds facing its beef business. INDEXES: Near midday, the Dow was down 78.84, or 0.45%, to 17,611.02, the Nasdaq was up 1.73, or 0.03%, to 5,130.01, and the S&P 500 was down 2.82, or 0.13%, to 2,101.02.
10:59 EDTLXRXLexicon data 'impressive and transforming,' says Wedbush
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09:23 EDTLXRXOn The Fly: Pre-market Movers
UP AFTER EARNINGS: Perion Network (PERI), up 10.2%... Array Biopharma (ARRY), up 5.6%... Camtek (CAMT), up 4.9%... Frontier Communications (FTR), up 7%. ALSO HIGHER: Lexicon Pharmaceuticals (LXRX), up 32.2% after TELESTAR Phase 3 study met primary endpoint... OraSure Technologies (OSUR), up 7.5% after receiving FDA emergency use authorization for ebola rapid diagnostic test... Omeros (OMER), up 7.1% after receiving marketing authorization for Omidria from EC... Ford (F), up 1.3% after reporting July U.S. sales. DOWN AFTER EARNINGS: Tyson Foods (TSN), down 8.8%. ALSO LOWER: LinnCo (LNCO), down 4.9% after being downgraded to Sector Perform from Outperform at RBC Capital... Linn Energy (LINE), down 5% after being downgraded to Sector Perform from Outperform at RBC Capital.
06:46 EDTLXRXLexicon to host conference call
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05:20 EDTLXRXLexicon announces TELESTAR Phase 3 study met primary endpoint
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