Lexicon Shares Jump On Positive Diabetes Study Results >LXRXLast update: 1/6/2011 6:30:07 AMDOW JONES NEWSWIRES Lexicon Pharmaceuticals Inc. (LXRX) reported positive results from a study on a pill form of its experimental diabetes drug. Shares jumped 13% to $1.70 in light premarket trading. As of Wednesday's close, the stock had dropped 19% over the past year amid a highly dilutive stock offering and a string of losses. Lexicon said the trial showed tablets of the drug, LX4211, improved measures of blood-sugar control, as well as metabolic indicators. It said it produced improvement in post-prandial glucose consistent with results seen in a previous mid-stage study on the liquid form of the drug. Lexicon, which like many drug developers is unprofitable, has five candidates in development for treatments including irritable bowel syndrome and arthritis. In November, it reported its third-quarter loss widened on sharply lower revenue from collaborative research. -By Matt Jarzemsky, Dow Jones Newswires; 212-416-2240; firstname.lastname@example.org (END) Dow Jones NewswiresJanuary 06, 2011 06:30 ET (11:30 GMT)
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