Lexicon shares shoot up on positive oral diabetes drug data

Shares of Lexicon Pharmaceuticals ($LXRX) shot up this morning after the developer touted positive signs of efficacy from its mid-stage study of its new oral diabetes drug.

A double dose of the drug tablets triggered a rapid improvement in blood sugar levels while "single doses of LX4211 produced rapid and significant improvement in post-prandial glucose and fasting plasma glucose, consistent with results seen in the previous Phase II study." Shares of Lexicon, which is based in Texas, were up 30 percent by mid-morning.

"The significant elevations of GLP-1 levels observed in the study are particularly important given its established relevance in the treatment of diabetes," said Brian Zambrowicz, Lexicon's executive vice president and chief scientific officer. "Newly observed in this study was the effect of LX4211 on increasing circulating levels of PYY. We believe the rapid reduction in blood sugar levels after meals, the increase in GLP-1 and the increase in PYY are all associated with SGLT1 inhibition by LX4211 in the gastrointestinal tract."

- check out the Lexicon release
- here's the Reuters story

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