By Stephen Nakrosis 
 

Shares of pharmaceutical company Lexicon Pharmaceuticals, Inc. (LXRX) are falling in Friday's after-hours market, after the company said it received notice that Sanofi wanted to terminate an alliance around the diabetes treatment Zynquista.

At 5:30 p.m. ET, Lexicon shares had lost 47.98% to trade at $2.96 per share. Over 250,000 shares traded after-hours. The company's shares finished the day's regular trading session with a 1.43% gain, to close at $5.69.

Lexicon said it told Sanofi it considers the "notice invalid and Sanofi to be in breach of contract."

 

--Write to Stephen Nakrosis at stephen.nakrosis@wsj.com

 

(END) Dow Jones Newswires

July 26, 2019 17:47 ET (21:47 GMT)

Copyright (c) 2019 Dow Jones & Company, Inc.
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