SHAREHOLDER ALERT: Pomerantz Law Firm Investigates Claims On Behalf of Investors of Lexicon Pharmaceuticals, Inc. - LXRX

NEW YORK, March 2, 2022

The investigation concerns whether Lexicon and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices. 

[Click here for information about joining the class action] 

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.

Pomerantz LLP, with offices in New York, Chicago, Los Angeles, Paris, and Tel Aviv, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, Pomerantz pioneered the field of securities class actions. Today, more than 85 years later, Pomerantz continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomlaw.com

CONTACT:
Robert S. Willoughby
Pomerantz LLP
rswilloughby@pomlaw.com
888-476-6529 ext. 7980