Lexicon Pharmaceuticals, Inc. (NASDAQ: LXRX) is screaming for the top in the market this morning, and for good reason. The company announced positive data from two Phase 3 clinical trails. Here’s what’s going on:
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LXRX Stock Pops On Positive Clinical Data
In the press release, Lexicon Pharmaceuticals said that it met its primary endpoints on two separate Phase 3 clinical trials. The trials, known as SOLOIST and SCORED, both addressed cardiovascular conditions treated by sotagliflozin, meeting the primary endpoint of demonstrating statistically significant reduction in total cardiovascular death and hospitalizations for heart failure.
LXRX explained that in the SOLOIST, the primary endpoint was achieved with a hazard ratio of 0.67 (p<0.001) in people with type 2 diabetes and a recent hospitalization for heart failure.
Also, in the SCORED study, the primary endpoint was met with a hazard ratio of 0.74 (p<0.001) in people with type 2 diabetes and chronic kidney disease with an estimated glomerular filtration rate, or eGFR, of 25 to 60 ml/minute per 1.73 m² of body-surface area.
In the release, LXRX explained that the results from both trials were presented at the Late-Breaking Science Session of the American Heart Association Scientific Sessions 2020 and simultaneously published in The New England Journal of Medicine in two separate titles. You can find them here.
In a statement, Deepak L. Bhatt, M.D., M.P.H., executive director of Interventional Cardiovascular Programs at Brigham Women’s Hospital and professor of medicine at Harvard Medical School and study chair and lead author for the NEJM publications of the LXRX clinical trials had the following to offer:
Cardiovascular disease continues to be a leading cause of death in people with type 2 diabetes. SOLOIST demonstrates that early, in-hospital initiation of sotagliflozin in patients with worsening heart failure significantly reduces subsequent cardiovascular events, an effect that was consistent across groups with heart failure with reduced ejection fraction (HFrEF) and heart failure with preserved ejection fraction (HFpEF). SCORED demonstrates that sotagliflozin significantly reduces heart failure events in a patient population with stage 3 and 4 chronic kidney disease and cardiovascular risk. Both studies add to the evidence that SGLT2 inhibition should be standard of care in heart failure, and the SCORED data reflecting a reduction in myocardial infarction and stroke and better glucose control in CKD patients suggest potential benefits from the dual SGLT1 and SGLT2 mechanism of this particular agent.
This News Is Huge
Lexicon Pharmaceuticals stock is running for the top for good reason. Not only was the data positive for two separate clinical trials, the condition the company is working to treat represents a massive market. In fact, the market is expected to grow to $11.8 billion by the year 2025.
Keep in mind, when we talk about LXRX, we’re talking about a stock that trades with a market cap of around $150 million. Tapping into this market would be overwhelmingly positive. After all, with a market valued at $11.8 billion and a market cap so small, LXRX doesn’t have to take the lion’s share or even a large percentage of the market. Just a small percentage of this market would generate meaningful revenue for the company.
Moreover, both studies were Phase 3 clinical trials, meaning that positive results ultimately lead to regulatory applications with the FDA. So, not only are the results positive, the company may soon move toward a New Drug Application with the FDA. So, there’s plenty to look forward to surrounding LXRX stock ahead.
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