Lexicon Pharmaceuticals Inc.'s phase II data with oral LX4211 in type 1 diabetes could be just enough to "transport" the company into the sweet deal that investors have been waiting for.
The Woodlands, Texas-based firm reported another batch of favorable data for the sodium glucose transporter (SGLT) inhibitor, which uniquely targets both SGLT1 and SGLT2 for a double-barreled mechanism of action separate from insulin.
LX4211 met the primary endpoint of reducing mealtime insulin use as well as several secondary endpoints, including improved glycemic control. Jeffrey Wade, chief financial officer of Lexicon, said during a conference call with analysts that negotiations continue.
"This [trial outcome] is obviously only to the positive," Wade said. Including type 1 with type 2 diabetes in the exchanges with prospective collaborators rather than insist on keeping rights to type 1 "continues to be the expectation," Wade