LXRX Stock Up as NVO Initiates Phase I Study of Partnered Obesity Drug

Key Takeaways LXRX shares rose 5.1% after Novo Nordisk began a phase I study of out-licensed oral obesity candidate LX9851.LX9851 targets ACSL5 and showed added weight loss benefits with Wegovy in preclinical studies.Lexicon Pharmaceuticals could earn up to $1B in milestones payments plus royalties under its NVO deal.Shares of Lexicon Pharmaceuticals (LXRX) gained 5.1% on Monday after the company announced that its partner, Novo Nordisk (NVO) , a dominant player in the obesity market, has initiated an early ...