Lexicon surges on licensing deal with Novo Nordisk for obesity drug
ReutersMar 28, 2025 12:06 PM
Shares of drug developer Lexicon Pharmaceuticals LXRX.O jump 108% to 72 cents premarket
LXRX says it has entered into an agreement with Novo Nordisk NOVOb.CO to license its non-incretin based experimental drug for obesity and associated metabolic disorders
Lexicon will be eligible to receive $1 billion in upfront and potential development, regulatory and sales milestone payments
Novo Nordisk will hold an exclusive, worldwide license to develop, manufacture and commercialize the drug candidate, LX9851
LXRX is eligible to receive tiered royalties on net sales of LX9851
Up to last close, LXRX stock down 84% in the past 12 months
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