This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Biotech Winners: Lexicon Pharma, Exelixis

(Biotech Winners & Losers item updated for closing stock prices.)

NEW YORK ( TheStreet) -- Lexicon Pharmaceuticals (LXRX - Get Report) stock was one of the leading gainers among biotech shares Monday on a day when most names in the land of experimental medicaments were in the green.

The Nasdaq Biotechnology Index jumped 6.24 points to 930.20

Shares of Lexicon, a Houston-based outfit that's attempting to develop treatments for diabetes, irritable bowel syndrome and rheumatoid arthritis, among other diseases, gained 4% to $1.79 Monday after earlier going as high as $1.91. Volume exceeded 1.9 million shares; average daily turnover has been about 750,000 shares.

Lexicon is expected to release results of a Phase Two clinical study of its rheumatoid arthritis drug LX2931. The firm launched the 12-week study in August 2009. On Friday, the company's CEO, Arthur Sands, is scheduled to deliver a presentation at the Biotech Industry Conference in New York.

Elsewhere, Exelixis (EXEL) shares added 21 cents, or 4.6%, to $4.81, on brisker-than-average volume. Earlier in the session, the stock hit $4.99.

Last week, the company licensed a pair of drugs still under development to Bristol-Myers Squibb (BMY) for an initial payment of $60 million. The two companies will collaborate on developing the drugs, which could be used to treat diabetes and inflammatory illnesses, Exelixis says.

If certain milestones are hit, Exelixis said the Bristol-Myers deal could eventually result in payments of more than $500 million. Both drug programs are in preclinical trials.

Bristol-Myers in June walked away from a deal with Exelixis under which the companies were to have worked on a cancer drug. The two companies have five other licensing agreements in place.
1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
SYM TRADE IT LAST %CHG
SIGA $1.86 0.54%
EXEL $6.05 0.00%
GILD $107.78 0.00%
LXRX $12.69 0.00%
AAPL $113.29 0.00%

Markets

Chart of I:DJI
DOW 16,643.01 -11.76 -0.07%
S&P 500 1,988.87 +1.21 0.06%
NASDAQ 4,828.3250 +15.6170 0.32%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs