In January 2014, The Woodlands-based pharmaceutical company Lexicon Pharmaceuticals Inc. (Nasdaq: LXRX) had slashed nearly half its workforce and removed its founding president and CEO after 20 years of service.
Fast-forward to August 2015, and the biotech company’s stock is the highest it’s been following those job cuts. The surge is largely based on the company’s successful phase 3 clinical trials for telotristat etiprate, or TE, which is intended for patients with carcinoid syndrome who are suffering severe abdominal pain and diarrhea. If it’s approved by the FDA, TE will become Lexicon’s first revenue-producing product.
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