Fool me once, shame on you. Fool me twice, shame on me. Disappoint investors over a period of decades? Well, then you’re Lexicon Pharmaceuticals (LXRX).
Yes, that’s snarky and mean, and not everything that has happened to
this company is the fault of management, but in terms of real world,
on-the-ground results, just look at a 10-year chart next to one of the
biotech indices like the IBB (IBB).
Lexicon
once again posted disappointing results for its only commercial drug,
and offered no additional clarity on the path forward for the Type 1
diabetes indication of Zynquista. Although the European approval is
nice-to-have, Lexicon’s economics are best on the Type 1 U.S.
indication, and that’s the needle-mover in my model. While Lexicon does
have some early-stage clinical compounds worth following, it’s going to
take time for this story to turn around.
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Lexicon Pharmaceuticals Languishing In The Dog House
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