July 26 Company Quick Takes: Lexicon hit by Phase III miss, scuttled deal; plus Xeljanz, Shield, Galapagos, Amarin and more

Sanofi canceling diabetes deal following Phase III misses

Lexicon Pharmaceuticals Inc. (NASDAQ:LXRX) dropped $2.79 (49%) to $2.90 in after-hours trading Friday after Sanofi (Euronext:SAN; NASDAQ:SNY) said it would terminate the partners’ collaboration on Zynquista sotagliflozin for Type I and II diabetes. Sanofi cited the drug’s misses in the Phase III SOTA-CKD4 trial to treat diabetics with stage 4 chronic kidney disease (CKD) and in diabetics with Stage 3b CKD, a subpopulation in the Phase III SOTA-CKD3 study. ...