Lexicon Pharmaceuticals Inc. (LXRX) Awarded Fast Track Designation for Development of Carcinoid Syndrome Treatment
According to the American Cancer Society, about 11,000 to 12,000 neuroendocrine tumors and neuroendocrine cancers are diagnosed each year in the United States. Carcinoid syndrome is a result of these tumors, which secret large amounts of serotonin that can cause severe diarrhea and abdominal discomfort. There are limited therapeutic options, and the gastrointestinal symptoms usually return over time, prompting biotechnology companies to discover new agents. Lexicon Pharmaceuticals Inc. (Nasdaq: LXRX) is one such company looking to give patients symptomatic relief. The company today announced it has received Fast Track status from the U.S. Food and Drug Administration to accelerate the…