Lexicon Genetics Files New Drug Application

Lexicon Genetics (LEXG) announced early Tuesday that it had filed an Investigational New Drug Application (NDA) with the FDA seeking to initiate phase I clinical trials for LX1031 to treat gastrointestinal disorders, including irritable bowel syndrome.

LX1031 is a small molecular compound developed internally by the company. It has been found to reduce the levels of peripheral serotonin, a chemical that has been shown to play a role in GI function. In preclinical studies, LX1031 was shown to reduce serotonin levels without affecting its concentration in the brain.

This is the company's second internally developed drug candidate to reach this regulatory filing stage.

Shares of Lexicon closed on Monday at $3.80, near its 52-week low of $3.58.

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