Lexicon Pharmaceuticals Provides Clinical Pipeline Update and Reports 2010 Fourth Quarter and Full Year Financial Results
THE WOODLANDS, Texas, Feb. 24, 2011 /PRNewswire/ -- Lexicon Pharmaceuticals, Inc. (Nasdaq: LXRX), a biopharmaceutical company focused on discovering and developing breakthrough treatments for human disease, today updated its drug development progress and reported financial results for the three months and year ended December 31, 2010.
"We achieved significant progress in the advancement of our drug pipeline in 2010, led by positive results in clinical trials of LX4211 for type 2 diabetes," said Dr. Arthur T. Sands, president and chief executive officer of Lexicon. "We also reported the results of a Phase 2a trial of LX2931 in rheumatoid arthritis, demonstrating a preliminary signal of efficacy and favorable safety profile that we believe supports exploration of higher doses in future studies."
Key Developments of 2010Lexicon reported positive results from a Phase 2a clinical trial of LX4211, a dual inhibitor of sodium-glucose cotransporters 1 and 2, showing statistically significant and rapid improvements in multiple parameters in patients with type 2 diabetes, including significant reductions of HbA1c within four weeks. Lexicon also reported positive results from a mechanistic study of a tablet formulation of LX4211, showing significantly increased levels of GLP-1 and PYY, important mediators of glycemic and appetite control. Lexicon plans to initiate a Phase 2b study of LX4211 around mid-year 2011. Lexicon continued its efforts to develop an improved formulation of LX1031, an inhibitor of tryptophan hydro