Lexicon Pharmaceuticals (NASDAQ:LXRX) recently reported its first quarter earnings and discussed the following topics in its earnings conference call.
Partnership Talks Update
Matthew Lowe – JPMorgan Securities: It’s actually Matt Lowe in for Cory today. Just firstly on 4211, if you could update us on the partnership talks, the level of confidence you have that a partner will be in place before Phase III and maybe the potential timing of Phase III initiation. And then, secondly on the importance of the Type 1 diabetes data, I guess how meaningful is that data towards ongoing negotiations?
Arthur T. Sands, M.D., Ph.D. – President and CEO: Jeff, you want to start off with that.
Jeffrey L. Wade, J.D. – EVP of Corporate Development and CFO: So I’ll take the first part of that question. We’re continuing to make progress in our partnership discussions and our objective remains to move into Phase III with a partner this year.
Arthur T. Sands, M.D., Ph.D. – President and CEO: And the second part of the question was regarding Type 1. Pablo, would you like to address that piece regarding the importance of the data?
Pablo Lapuerta, M.D. – SVP of Clinical Development and Chief Medical Officer: Yeah. We recognize that this is only a few patients, but for us it’s really helped us develop a vision for the product profile in Type 1 diabetes and we’re excited about that profile, and we believe that LX4211 could offer improved glycemic control, reduced and sometimes on regimens and have patients spend less time in hypoglycemia. And we think that’s relevant to people who are in development of agents for Type 1 diabetes.
Arthur T. Sands, M.D., Ph.D. – President and CEO: And then I think just the last half of that question Matt, with regard to the implication for partnership, we have viewed Type 1 diabetes as an opportunity for Lexicon to take the lead role in a highly specialized indication, and so I think this is important in that regard because it does allow us to outline a path forward that having seen the initial safety and initial efficacy (indiscernible) patients, we’re able to move our program forward. So I do think it does have some important implications for our partnership opportunities and our ultimate commercial opportunities…