Lexicon Pharmaceuticals Inc. (NASDAQ:LXRX) Stock Is Down 21% in a Month: What to do Now?

Lexicon Pharmaceuticals Inc. (NASDAQ:LXRX)  is down 21% in a month without reporting any news. However, the company reported its Q1 2021 results for the period ended March 31, 2021, in early May 2021. CEO Lonnel Coats stated that patient enrolment in the company’s two Phase 2 proof-of-concept LX9211 clinical studies in neuropathic pain was ongoing, with study results expected at the end of the year.

In addition, Coats said that they were equally delighted with the FDA’s regulatory feedback on Sotagliflozin in the treatment of heart failure. As a result, there are expediting the process of the expected NDA submission for the indication this year.

Another milestone, the company expects this year is the NDA filing for sotagliflozin in reducing cardiovascular death risk and heart failure hospitalization. In addition, the company is working to secure a strategic partnership for sotagliflozin in heart failure. Equally, the company will release Phase 2 study results for the RELIEF-DPN-1 study of LX9211 to treat neuropathic pain. So in the coming months, LXRX is a stock to watch.

Market Reaction:

On Friday, LXRX stock went up 0.54% at $3.71 with more than 603k shares, compared to its average volume of 844k shares. The stock has moved within a range of $3.6800 – 3.7700 after opening the trade at $3.68. Over the past 52-week, the stock has been trading within a range of $1.0300 – 9.6500.