Nasdaq has suspended trading in Lexicon Pharmaceuticals (LXRX -5.3%) pending the release of news, a near-certainty that it pertains to the expected FDA nod for Sanofi's (SNY -2.6%) oral Zynquista (sotagliflozin) for type 1 diabetes. Today is the agency's action date.
Sanofi in-licensed the dual SGLT-1 & 2 inhibitor from Lexicon in November 2015.
Approval should trigger a milestone payment to LXRX.
Subscribe for full text news in your inbox