Promising diabetes data spur Lexicon shares

Shares of Lexicon Pharmaceuticals (LXRX) jumped 24 percent this morning after the developer reported promising signs that its type 2 diabetes drug lowered blood glucose levels in a mid-stage trial.

Two doses of LX4211 were given to 36 patients in the study. And both doses significantly lowered blood glucose levels after just four weeks of therapy. Both dose groups also reported a drop in weight and lower blood pressure and triglycerides.

Reuters reports that Lexicon executives told the news service back in September that the company has enough money to make it until the middle of next year. And while it's looking to partner the drug, an oral small molecule drug that inhibits the sodium-dependent glucose transporter 2, The Woodlands, TX-based company also said it's not working on a set timeline.

"The magnitude and rapid response in glycemic control, combined with the triglyceride reduction, may distinguish LX4211 from other agents in this class," said Dr. Brian Zambrowicz, chief scientific officer of Lexicon. "We now believe that the action of LX4211 cannot be entirely explained by glucose excretion in the urine alone, but may also relate to secondary events that both further enhance glycemic control and provide the other metabolic improvements we have witnessed in this study."

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