Northern, WI  12/31/2012 (BasicsMedia) – One of todays early movers is Lexicon Pharmaceuticals Inc. (NASDAQ:LXRX). The company is up over 10% in morning trading with a volume of over 3 million shares traded so far this morning. Lexicon is a biopharmaceutical company that applies gene knockout technology to research potential drug targets encoded in the human genome. Lexicon’s flagship drug candidate Telotristat etiprate (LX1032/1606) is now going through Phase III clinical trials for carcinoid syndrome, and Phase II clinical trials for ulcerative colitis. The Phase II portion of this trials for ulcerative colitis is projected to conclude at the end of this month, the results are scheduled to be  announced on March 31st, 2013.

It has also been announced that Fast Track status and Orphan Drug designation from the FDA, and Orphan designation from the European Medicines Agency has been granted to Telotristat etiprate for its indication in the treatment of carcinoid syndrome. The company has said that, Telotristat etiprate “significantly improved multiple dimensions of carcinoid syndrome with a favorable safety profile” in Phase II clinical trials. The Phase III trial initiated in October 2012 is a 12-week, randomized, double-blind, placebo-controlled study to evaluate the efficacy and safety of telotristat etiprate as a treatment for carcinoid syndrome. Once the  the 12-week treatment period is done, patients will enter a 36 week open-label extension period where all the patients will receive telotristat etiprate. Lexicon is looking for the Phase III results to be announced at sometime during Q1 of 2014.

In other company news, Lexicon also recently announced that it received Fast Track status from the FDA for its drug (LX1033) designed to treat diarrhea-predominant irritable bowel syndrome. Fast-Track status should help speedup  the review of the LX1033, which is presently in Phase II trials.

The company has drug discovery and development collaborations with Bristol-Myers Squibb Company; Genentech, Inc.; Schering-Plough/Organon; and Takeda Pharmaceutical Company Limited. Lexicon Pharmaceuticals, Inc. was founded in 1995 and is headquartered in The Woodlands, Texas.

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