Primary Endpoint Achieved
Lexicon Pharmaceuticals said its LX4211 compound met its primary endpoint for reducing post-prandial glucose in a study of patients with type 2 diabetes. It also boosted GLP-1, a hormone involved in control of glucose and appetite. LXRX is rallying 25 percent before the opening bell on my tradeMONSTER platform.
Merck to Slash $2.5 Billion of Costs
Merck announced it will slash 8,500 jobs over the next two years, lowering costs by $2.5 billion a year. It will also streamline its research and development on products most likely to win regulatory approval. MRK gains almost 3 percent in early trading.
Universal Display Downgraded by Canaccord
Universal Display was downgraded to "sell" by Canaccord, which sees increased competition from LG and Samsung in coming years. The price target was cut from $22 to $19. OLED drops 6 percent in the premarket.
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- Lexicon Pharmaceuticals