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Small-Cap Snapshot: Lexicon Pharmaceuticals rallies as European agency recommends approval of diabetes treatment

Also on the move are Colony Capital Inc, Intrexon Corp and Puma Biotechnology Inc

An illustration for diabetes
The diabetes treatment was cleared as part of insulin therapy

Lexicon Pharmaceuticals Inc (NASDAQ:LXRX) gained after a European agency advanced a diabetes treatment that the company developed with Sanofi SA (NASDAQ:SNY). The European Medicines Agency’s Committee for Medicinal Products for Human Use recommended approval of sotagliflozin in the EU for both a 200- and 400-milligram dose as part of insulin therapy to improve blood sugar control in some adults with Type 1 diabetes.

Shares of Lexicon were up 27% to $6.76 in Nasdaq trading. Sanofi gained 1.4% to $42.20.

Colony Capital Inc (NYSE:CLNY) dropped after the Los Angeles-based financial services company reported fourth-quarter net investment losses of $29 million. Total revenue dropped to $634 million from $720 million a year earlier.

The stock was down 3.6% to $5.36 in New York.

READ: Puma Biotechnology shares rocket after biopharma zips past Street's 4Q estimate

Puma Biotechnology Inc (NASDAQ:PBYI) surged after the biopharmaceutical company beat Wall Street’s fourth-quarter estimates thanks to sales of its flagship breast-cancer drug Nerlynx. The company’s net loss shrank to $0.32 per share from $1.03 a year earlier. It posted revenue of $71.1 million, of which $61.1 million was from Nerlynx and $10 million was from license revenue. Analysts had expected Puma to lose $0.69 on revenue of $53.65 million.

Shares climbed 40% to $39.02 in Nasdaq trading.

Intrexon Corp (NASDAQ:XON) sank after the Germantown, Maryland, biotech posted a fourth-quarter loss $0.21 per basic share on total revenue of $43.2 million, a decrease of 44% from a year earlier. Cash, cash equivalents and short-term investments totaled $222.5 million.

The stock tumbled 36% to $5.09 on the Nasdaq.

The Russell 2000 index of small-cap stocks edged up 0.3% to 1580.26.

Contact Dennis Fitzgerald at [email protected]

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