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Lexicon Pharmaceuticals Reports Losses in its Second Financial Quarter of 2015

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Published on : Aug 07, 2015

In the second quarterly financial results reported by Lexicon Pharmaceuticals, Inc., the company said that its revenues have decreased to $0.4 million in the second financial quarter of this year. The finance report has also given a snapshot of the key milestones set for the leading drugs manufactured by the Texas-based pharmaceutical company.

Lexicon had announced earlier this week that its most advanced offering, the telotristat etiprate, has statistically achieved significant results in the treatment of carcinoid syndrome in cancer patients. Carcinoid syndrome is not adequately controlled by several other drugs in the market.  Telotristat etiprate has met the pivotal Phase III endpoint of its study.

Lexicon’s Chief Executive Officer and President, Lonnel Coats, said that the company is very pleased with the results and that the company is committed towards the bringing the innovative treatment to the several patients out there who are impacted by the chronic, life-limiting, severe health condition.

The results are highly supportive to the company’s plans in working closely with the U.S. FDA and file for the company’s first new drug application.

Lexicon has leveraged the Nobel Prize winning gene science technology for discovering and advancing the targeted medicine through clinical and pre-clinical development.

Telotristat etiprate will be used for curing carcinoid syndrome, a rather rarely occurring condition impacting thousands of cancer patients. The U.S. FDA has granted Telotristat etiprate an Orphan Drug and Fast Track designation. If approved, the targeted medicine will be the first oral treatment in market to have been successfully developed for carcinoid syndrome and the first one in standard of care category.  The company is also in the Phase II trial of its medicine sotagliflozin that will target type 1 diabetes.