MARKET PULSE
Shares of Lexicon Pharmaceuticals Inc. (lxrx) are down 5% in premarket trading on Friday after the biopharmaceutical company said that its experimental Type 2 diabetes treatment met its primary and secondary endpoints in a late-stage clinical trial. The therapy, Zynquista, is already approved in Europe. Earlier this month, Lexicon said that the Food and Drug Administration had denied a company appeal that the regulator reconsider approving Zynquista as a Type 1 diabetes treatment. The company said Dec. 2 it plans to appeal the decision again. Lexicon's stock is down 33% year-to-date, compared to the S&P 500 (spx) which is up 27%.
