Lexicon Pharma Shares Plunge 48% After Sanofi Says It Wants to End Alliance
July 26 2019 - 6:02PM
Dow Jones News
By Stephen Nakrosis
Shares of pharmaceutical company Lexicon Pharmaceuticals, Inc.
(LXRX) are falling in Friday's after-hours market, after the
company said it received notice that Sanofi wanted to terminate an
alliance around the diabetes treatment Zynquista.
At 5:30 p.m. ET, Lexicon shares had lost 47.98% to trade at
$2.96 per share. Over 250,000 shares traded after-hours. The
company's shares finished the day's regular trading session with a
1.43% gain, to close at $5.69.
Lexicon said it told Sanofi it considers the "notice invalid and
Sanofi to be in breach of contract."
--Write to Stephen Nakrosis at stephen.nakrosis@wsj.com
(END) Dow Jones Newswires
July 26, 2019 17:47 ET (21:47 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
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