With investors spoiled for choice in the biotech sector, it is easy for stocks to slide off the radar – particularly those who haven't long enjoyed major investment bank support or been willing to resort to dubious promoters. Although there is no such thing as a safe early-stage biotech, aggressive investors looking for something a bit off the beaten track may want to check out Lexicon Pharmaceuticals (Nasdaq: LXRX).
Trying To Make The Most Of A New Life
Lexicon actually traces its history back to the mid-90s when investor enthusiasm for all things genomic overrode good sense and allowed many dubious business models to come to the public market. Like Celera, Human Genome Sciences (Nasdaq: HGSI) and DeCODE Genetics, Lexicon thought it could establish a viable business model by selling or licensing genomic and proteomic information to large pharmaceutical companies like Bristol-Myers Squibb (NYSE: BMY) and Roche (Nasdaq: RHHBY.PK). Suffice it to say, this was a model doomed to fail and Lexicon opted to reorganize around its data and recast itself as biotechnology company, using its own data to identify potential therapies for significant diseases.
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Lexicon Pharmaceuticals: A Worthwhile Speculation
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