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Lexicon Pharmaceuticals Soaring on Successful Clinical Trial for Type 1 Diabetes

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Shares of the biopharmaceutical company Lexicon Pharmaceuticals, Inc. (NASDAQ:LXRX) are soaring this morning after the company announced positive results for its Phase 2 clinical trial of the experimental diabetes drug LX4211. LX4211 is used to treat patients with type 1 diabetes. In the clinical trial, LX4211 was successful at reducing insulin usage during mealtime by patients. In addition, the drug improved glycemic control. Type 1 diabetes affects more than a million people worldwide. Let’s hope Phase 3 yields even better results.