The frustrating wait for the key driver at Lexicon Pharmaceuticals (NASDAQ:LXRX) - a clinical development and marketing partner for LX4211 - goes on. While management spent a lot of time on its earnings call reviewing the positive data and commercial opportunity in Type 1 diabetes, this was all pretty well known going into the call. Management believes it can go into Phase III development of LX4211 in Type 1 diabetes on its own, but these shares are likely stuck unless and until a partner emerges.
New Leadership, Old Problem
Lexicon announced a new CEO last month, naming Lionel Coats, the former head of Eisai's U.S. operations to the role. Mr. Coats does bring some relevant M&A experience...
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