Orlando, FL -- (SBWIRE) -- 10/10/2013 -- Hot Stock Profits provides investors and traders with valuable trading tools and content as well as micro-cap stock alerts via eMail and text messages. To Join Our Text Message Alerts Service Just Text The Word Stocks To 555888 From Your Cell Phone. Our Focus Today Is On Lexicon Pharmaceuticals, Inc. (NASDAQ:LXRX), Immunomedics, Inc. (NASDAQ:IMMU).
Lexicon Pharmaceuticals, Inc. (NASDAQ:LXRX) shares declined 7.75% to $2.50. The company on Oct. 9 announced top-line results from a pilot study exploring the use of telotristat etiprate in ulcerative colitis. Telotristat etiprate, a serotonin synthesis inhibitor, is currently in Phase 3 development for carcinoid syndrome, a condition caused by metastatic, functioning neuroendocrine tumors. Elevated serotonin is a hallmark of carcinoid syndrome, and two previous Phase 2 clinical trials have shown that clinical benefits of telotristat etiprate treatment were associated with significant reductions in 5-HIAA, a biomarker of serotonin production. Genetic and pharmacological studies in preclinical models had also suggested that reducing serotonin levels might benefit patients with other forms of gastrointestinal disease such as ulcerative colitis.
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Immunomedics, Inc. (NASDAQ:IMMU) shares dropped 5.88% to $5.60. The company on Oct. 9 announced that the Company has received notification from Takeda Pharmaceutical Company of the termination of the licensing agreement signed between Nycomed GmbH and Immunomedics for the worldwide rights to veltuzumab, the humanized anti-CD20 antibody, for all non-cancer indications. The notification was received subsequent to the Company's filing of arbitration proceedings in an effort to resolve the dispute the Company has with Nycomed concerning delays in the development of veltuzumab, which the Company argues is a material breach of the licensing agreement.
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