Lexicon (LXRX) Dips on Post Hoc Analysis Data on Sotagliflozin
Lexicon Pharmaceuticals, Inc. LXRX announced data from a new post hoc analysis of its phase III inTandem3 study that evaluated sotagliflozin for the treatment of patients with type 1 diabetes and chronic kidney disease (CKD).
Data from the new post hoc analysis showed that treatment with sotagliflozin improved glycemic control in the given patient population, while also successfully lowering A1C (blood sugar levels), body weight and systolic blood pressure.
Per the press release, in a subgroup of patients with type 1 diabetes and CKD, treatment with sotagliflozin led to similar reductions in A1C, body weight and systolic blood pressure in the CKD and total cohorts, relative to placebo. Treatment with sotagliflozin was also associated with the same risks of severe hypoglycemia between the two cohorts.
This might have hurt investors’ sentiments and resulted in the stock to go down 10.3% on Mar 12, following the announcement of the news.
The company is currently preparing to resubmit the new drug application seeking approval for sotagliflozin as an adjunct to insulin therapy in people with type 1 diabetes and CKD.
Shares of Lexicon have rallied 9.1% in the past year against the industry’s decline of 5.8%.
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We remind investors that FDA approved sotagliflozin under the brand name of Inpefa to reduce the risk of death and hospitalization in adults with either heart failure or those with type II diabetes mellitus, CKD and other cardiovascular risk factors in May 2023.
An oral SGLT inhibitor, the commercial launch of Inpefa continues to progress in the United States. The drug is witnessing increasing demand across the cardiology community and improving payer access.
Meanwhile, Inpefa was placed as a preferred product on pharmacy benefits manager Express Scripts’ Medicare national formularies effective Nov 1, 2023.
Express Scripts placed Inpefa on its Premier Access and Premier Performance national formularies for Medicare patients. As a result of this placement, Express Scripts’ Medicare patients in specific plans will now be able to access Inpefa, thereby expanding the drug’s market reach.
Lexicon is also planning to develop Inpefa in a phase III study for treating hypertrophic cardiomyopathy.
Zacks Rank & Stocks to Consider
Lexicon currently carries a Zacks Rank #4 (Sell).
Some better-ranked stocks in the healthcare sector are ADMA Biologics, Inc. ADMA, Vanda Pharmaceuticals Inc. VNDA and ANI Pharmaceuticals, Inc. ANIP, each sporting a Zacks Rank #1 (Strong Buy) at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
In the past 60 days, estimates for ADMA Biologics’ 2024 earnings per share have improved from 18 cents to 30 cents. In the past year, ADMA shares have risen 92%.
ADMA’s earnings beat estimates in three of the trailing four quarters and met the same once, the average surprise being 85.00%.
In the past 60 days, the Zacks Consensus Estimate for Vanda Pharmaceuticals’ 2024 bottom line has improved from a loss of 46 cents per share to earnings of 1 cent. In the past year, VNDA shares have plunged 36.4%.
VNDA’s earnings beat estimates in each of the trailing three quarters, the average surprise being 92.88%.
In the past 60 days, estimates for ANI Pharmaceuticals’ 2024 earnings per share have improved from $4.06 to $4.40. In the past year, ANIP shares have gained 62.4%.
Earnings of ANIP beat estimates in each of the trailing four quarters, the average surprise being 109.60%.
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Lexicon Pharmaceuticals, Inc. (LXRX) : Free Stock Analysis Report
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