Shares of Lexicon Pharmaceuticals (NASDAQ:LXRX) slid 8% in morning trading amid the release of a post hoc analysis of clinical data from a Phase 3 study called Tandem3 for its drug sotagliflozin.
The company said the analysis showed improved glycemic control in patients with type 1 diabetes and chronic kidney disease who took sotagliflozin. The data was presented last week at the ATTD 2024 medical conference in Italy.
Shares of Lexicon closed 30% higher Monday after the company announced it planned to resubmit its market application to the FDA for sotagliflozin in mid-2024. The company also said it had entered into a $250M private placement agreement and released its Q4 earnings report.