Sep. 9 at 7:46 PM
$LXRX Current Price vs. Fair Value: Old Fears vs. 2026 Facts 🧬📊
At ~
$2.14, backing out ~
$0.30 net cash means the market is already pricing ~
$1.84 for the science.
The ~
$5.40 fair value case doesn't deny this. It argues that
$1.84 is being weighed down by old 2019 FDA rejection fears, ignoring the updated 2026 clinical record:
• Novo Nordisk (
$NVO): Already paid
$75M cash. Valuing realistic future milestones and royalties adds ~
$0.80/sh.
• Type 1 Diabetes (Zynquista): ~
$2.25/sh. STENO1 cleared key safety hurdles ahead of the Q4 FDA filing (and the molecule is already FDA-approved as INPEFA).
• Core Pipeline: ~
$1.45/sh. A Phase 3 heart disease trial fully enrolled (Q1 '27 readout) plus a Phase 3-ready non-opioid pain drug.
The Math:
$0.30 cash +
$0.80 Novo +
$2.25 T1D +
$1.45 pipeline = ~
$4.80–
$5.80 baseline fair value (up to
$7.20+ as T1D approval odds climb).
$2.14 is a seller who cannot wait.
$5.40 is a buyer who can. Different patience, different value.
$VTRS $BIB
