Penny Stock Lexicon Pharmaceuticals Surges On Obesity Pact Worth $1 Billion With Novo Nordisk

Lexicon Pharmaceuticals Inc. (NASDAQ:LXRX) stock is trading higher on Friday.

Penny stock Lexicon Pharmaceuticals entered into an exclusive license agreement with Novo Nordisk A/S (NYSE:NVO) on Friday for LX9851, a first-in-class, oral non-incretin development candidate in obesity and associated metabolic disorders.

Under the terms of the agreement, Novo Nordisk obtains an exclusive, worldwide license to develop, manufacture, and commercialize LX9851 in all indications.

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Lexicon will be responsible for completing the agreed-upon Investigational New Drug ...