Lexicon Pharma Voluntarily Withdraws Sotagliflozin New Drug Application

(RTTNews) - Lexicon Pharmaceuticals, Inc. (LXRX) announced the voluntary withdrawal and planned near-term resubmission of the company's New Drug Application for sotagliflozin to correct a technical issue with the submission recently identified by the company.

The company targets a resubmission early in the second quarter of 2022.

sotagliflozin is an oral dual inhibitor of two proteins responsible for glucose regulation known as sodium-glucose co-transporter types 1 and 2 (SGLT1 and SGLT2).

SGLT1 is responsible for glucose absorption in the gastrointestinal tract, and SGLT2 is responsible for glucose reabsorption by the kidney.

Sotagliflozin is approved in the European Union for use as an adjunct to insulin therapy to improve blood sugar (glycemic) control in adults with type 1 diabetes with a body mass index = 27 kg/m2, who could not achieve adequate glycemic control despite optimal insulin therapy, but has not yet been commercially launched.

In Monday pre-market trade, LXRX was trading at $2.65 down $0.20 or 7.02%.