Welcome to our dedicated page for Lexicon Pharmaceuticals news (Ticker: $LXRX), a resource for investors and traders seeking the latest updates and insights on Lexicon Pharmaceuticals stock.
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Lexicon Pharmaceuticals reported financial results for the first quarter of 2024, highlighting the progress in the commercial launch of INPEFA for heart failure. They also provided updates on the resubmission of NDA for ZYNQUISTA in Type 1 Diabetes, Phase 3 study of sotagliflozin in Hypertrophic Cardiomyopathy, and Phase 2b PROGRESS study of LX9211 in Diabetic Peripheral Neuropathic Pain. The company remains focused on advancing its pipeline with the selection of LX9851 for obesity and weight management. Financially, the company reported revenues of $1.1 million, with increased R&D and SG&A expenses resulting in a net loss of $48.4 million for the quarter. Lexicon Pharmaceuticals remains well-capitalized with $355.6 million in cash and investments.
Lexicon Pharmaceuticals, Inc. announced the retirement of Lonnel Coats as CEO and board member effective July 7, 2024. The board is searching for a new CEO. Under Coats' leadership, Lexicon has advanced compounds through development, transformed into a biopharmaceutical business, and built a strong management team. Coats expressed gratitude for the opportunity to lead the company and highlighted upcoming initiatives, including the launch of new products and clinical studies.
Lexicon Pharmaceuticals, Inc. (Nasdaq: LXRX) will announce its first quarter 2024 financial results on May 2, 2024. A conference call and webcast will be held to discuss the results and provide a business update.
The call will take place at 5:00 p.m. ET (4:00 p.m. CT), with replay options available for 7 days. The webcast can be accessed online, with a replay available for 14 days after the call.
