Lexicon Pharmaceuticals Inc said its experimental drug to treat diabetes met the main goal of reducing the use of insulin at meal times in a mid-stage study on patients with type 1 diabetes.
The company's shares rose about 19 percent to $1.89 in trading before the bell.
Lexicon said the drug, codenamed LX4211, reduced the total dose of insulin taken by patients at meal times by 32 percent, compared with a 6 percent reduction in patients given a placebo.
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