LXRX Stock Moves Up 30% in a Week: What is Driving This Rally?

Shares of Lexicon Pharmaceuticals (LXRX) have jumped 30% after signing a licensing deal for its pre-clinical obesity drug LX9851 with pharma giant Novo Nordisk (NVO) last week.Per the deal terms, Lexicon will complete certain preclinical activities before Novo Nordisk takes over the development, manufacturing and commercialization of LX9851. NVO will also be responsible for LX9851’s investigational new drug (IND) filing.In return, LXRX is eligible to receive $75 million as an upfront payment from NVO. Inclu ...