A few days ago, the FDA approved Lexicon Pharmaceutical’s (LXRX) drug Xermelo™ (telotristat ethyl) 250 mg for the treatment of metastatic neuro-endocrine syndrome (mNET) patients who suffer from carcinoid syndrome diarrhea. The drug will be launched and sold today, March 6, in select specialty pharmacies.
Carcinoid syndrome is a rare condition that occurs in patients with mNETs. It is characterized by frequent debilitating diarrhea that prevents patients from leading active predictable lives, as well as by facial flushing, abdominal pain, fatigue and, over time, heart valve damage.
Xermelo™ is a prescription pill, used along with somatostatin analog (SSA) therapy for carcinoid syndrome diarrhea in adults who are not adequately controlled by the standard of care SSA alone. The drug is the first and only approved oral therapy for carcinoid syndrome diarrhea.
To read about the detailed uses of Xermelo and of its safety information go to: www.xermelo.com/
We always see the approval of the first drug for a small struggling fundamentally solid biotech firm as a MIRACLE. This is especially true when the drug can still erase debilitating symptoms after they exhaust all standard of care treatments, which is the case with Xermelo. This drug was the first approved to rescue the sufferers from the carcinoid syndrome diarrhea after its standard of care somatostatin analog therapy could no more help them.
About Lexicon Pharmaceuticals
Through its Genome5000™ program, Lexicon scientists spent many years studying around 5,000 genes functions, which enabled it to pinpoint key protein targets for the potential creation of new drugs. With this built in capability, Lexicon Pharmaceuticals is designing and creating new therapies that can potentially improve on the standard of care.
Lexicon was ready to launched Xermelo in the U.S. where it retains all commercialization rights. Lexicon also retains rights to market the product in Japan. It established a licensing collaboration agreement with Ipsen to commercialize its drug in Europe and other countries outside of U.S. and Japan.
Pipeline: Lexicon has a pipeline of promising drugs in clinical and preclinical trials for neuropathic pain, diabetes and metabolism. The approval of Xermelo, in addition to the many protein targets Lexicon has discovered, which promise the production of new drugs, make this firm promising.
Collaborations: The firm has collaborating agreements with Sanofi, Ipsen, Bristol-Myers Squibb and Genentech.
Lexicon Pharmaceuticals was founded in 1995 and is headquartered in The Woodlands, Texas.
The Symbol: LXRX
Current Stock price: $16.06
Market Cap.: $1.79 Billion
52-week high: $19.62
52-week low: $10.45
Total Cash: $395.56 M
Cash per share: $3.8
The expected yearly revenues from the newly approved product Xermelo™ $500-$600 Million
Prohost LXRX Target: See the New Prohost Portfolio in the upcoming Prohost Letter #405.
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