Lexicon Pharmaceuticals, Inc. Securities Litigation

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Lawsuit Overview

Defendant:Lexicon Pharmaceuticals, Inc.
Date Filed:January 28th, 2019
Sector:Health Care
Industry:Major Pharmaceuticals

According to the Complaint, Lexicon is a biopharmaceutical company that focuses on the development and commercialization of pharmaceutical products for the treatment of human diseases.

"Sotagliflozin" is the scientific name of one of Lexicon's orally-delivered small molecule drug candidates under development. Sotagliflozin is in Phase 3 clinical trials for the treatment of type 1 and type 2 diabetes.

The Complaint alleges that throughout the Class Period, Defendants made materially false and misleading statements regarding the Company's business, operational and compliance policies. Specifically, Defendants made false and/or misleading statements and/or failed to disclose that: (i) the data from Lexicon's Phase 3 clinical trials assessing the safety and efficacy of Sotagliflozin in treating type 1 diabetes were not as positive as Lexicon represented; (ii) the health risks posed by Sotagliflozin were severe enough to threaten its FDA approval prospects; and (iii) as a result, Lexicon's public statements were materially false and misleading at all relevant times.

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First Identified Complaint

Daniel Manopla, et al. v. Lexicon Pharmaceuticals, Inc., et al.

Date Filed:January 28th, 2019
Class Period Start:March 11th, 2016
Class Period End:January 17th, 2019
First Identified Complaint Filings
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