Lexicon Pharmaceuticals, Inc. (LXRX)

Investigation 

Bronstein, Gewirtz & Grossman, LLC is investigating potential claims on behalf of purchasers of Lexicon Pharmaceuticals, Inc. ("Lexicon" or the "Company") (NASDAQ: LXRX). Investors who purchased Lexicon securities are encouraged to obtain additional information and assist the investigation.

 

The investigation concerns whether Lexicon and certain of its officers and/or directors have violated federal securities laws.

 

On February 28, 2022, Lexicon issued a press release “announc[ing] the voluntary withdrawal and planned near-term resubmission of the company’s New Drug Application (NDA) for sotagliflozin to correct a technical issue with the submission recently identified by the company.”  Lexicon reported that “[t]he company promptly notified the U.S. Food and Drug Administration (FDA) about the issue and has been in discussions with the agency to correct the submission” but that “[d]ue to the proximity to the conclusion of the 60-day filing review period, Lexicon determined, after consultation with the FDA, that the withdrawal of the NDA and a subsequent resubmission would be the most appropriate action to provide a complete submission for review.”  On this news, Lexicon’s stock price fell $0.78 per share, or 27.37%, to close at $2.07 per share on February 28, 2022.

 

If you are aware of any facts relating to this investigation or purchased Lexicon shares, you can assist this investigation. You can also contact Peretz Bronstein or his Investor Relations Analyst, Yael Nathanson of Bronstein, Gewirtz & Grossman, LLC: 212-697-6484. 

Bronstein, Gewirtz & Grossman, LLC is a corporate litigation boutique.  Our primary expertise is the aggressive pursuit of litigation claims on behalf of our clients.  In addition to representing institutions and other investor plaintiffs in class action security litigation, the firm’s expertise includes general corporate and commercial litigation, as well as securities arbitration. Attorney advertising. Prior results do not guarantee similar outcomes.