Lexicon Pharmaceuticals Announces Successful End-of-Phase 2 Meeting with FDA For Pilavapadin in the Treatment of Diabetic Peripheral Neuropathic Pain

Rhea-AI Summary

Lexicon Pharmaceuticals (Nasdaq: LXRX) announced on January 21, 2026 that it completed an End-of-Phase 2 meeting with the U.S. Food and Drug Administration for pilavapadin in diabetic peripheral neuropathic pain (DPNP).

The FDA raised no objections to advancing pilavapadin into Phase 3, which the company plans as two placebo-controlled, 12-week, two-arm registrational studies evaluating a 10 mg daily dose versus placebo. The Phase 3 primary endpoint will be change in average daily pain score (ADPS) from baseline to Week 12. The FDA did not require unexpected preclinical or clinical studies that would likely delay Phase 3 or a potential regulatory submission.

Positive

• FDA raised no objections to Phase 3 advancement
• Planned two 12-week placebo-controlled registrational studies
• Phase 3 will test a 10 mg daily dose versus placebo
• Primary endpoint set as ADPS change to Week 12
• No unexpected preclinical or clinical studies required by FDA

Negative

• Regulatory approval still requires successful Phase 3 study results
• Program progress depends on outcomes of two upcoming registrational trials

News Market Reaction

+19.08% 3.8x vol

67 alerts

+19.08% News Effect

+33.6% Peak in 30 hr 17 min

+$107M Valuation Impact

$665M Market Cap

3.8x Rel. Volume

On the day this news was published, LXRX gained 19.08%, reflecting a significant positive market reaction. Argus tracked a peak move of +33.6% during that session. Our momentum scanner triggered 67 alerts that day, indicating high trading interest and price volatility. This price movement added approximately $107M to the company's valuation, bringing the market cap to $665M at that time. Trading volume was very high at 3.8x the daily average, suggesting strong buying interest.

Data tracked by StockTitan Argus on the day of publication.

Key Figures

Phase 3 dose: 10 mg daily Study duration: 12 weeks Primary endpoint timepoint: Week 12 +1 more

4 metrics

Phase 3 dose 10 mg daily Pilavapadin Phase 3 registrational studies vs placebo

Study duration 12 weeks Two placebo-controlled, two-arm Phase 3 studies

Primary endpoint timepoint Week 12 Change in average daily pain score from baseline

Non-opioid gap Over two decades Goal to be first non-opioid DPNP medicine in 20+ years

Market Reality Check

Price: $1.25 Vol: Volume 1,639,901 is near ...

normal vol

$1.25 Last Close

Volume Volume 1,639,901 is near the 20-day average of 1,704,062 (relative volume 0.96), suggesting no unusual trading ahead of this news. normal

Technical Shares at $1.31 are trading above the 200-day MA of $1.07, but sit 21.08% below the 52-week high and well above the 52-week low.

Peers on Argus

LXRX was down 4.38% while peers like FULC (+7.83%), SLDB (+5.44%) and others in ...

LXRX was down 4.38% while peers like FULC (+7.83%), SLDB (+5.44%) and others in Biotechnology were up, indicating a stock-specific move rather than a sector-wide trend.

Historical Context

5 past events · Latest: Jan 12 (Positive)

Pattern 5 events

Date	Event	Sentiment	Move	Catalyst
Jan 12	Pipeline & business update	Positive	+0.8%	Outlined key Phase 3 timelines and financial position, including cash runway.
Jan 09	Policy/advocacy publication	Neutral	-0.8%	Released chronic pain white paper emphasizing need for non-opioid therapies.
Jan 07	Conference presentation	Positive	+2.6%	Announced upcoming J.P. Morgan Healthcare Conference presentation details.
Dec 10	Preclinical data update	Positive	+0.8%	Published ACSL5 preclinical data supporting LX9851’s scientific rationale.
Dec 05	Clinical data presentation	Positive	-1.4%	Announced upcoming sotagliflozin adipose distribution data presentation at CVCT.

Pattern Detected

Recent news has mostly seen modest positive or neutral price reactions, with one notable negative divergence on clinical-trial news.

Recent Company History

Over the last few months, Lexicon has highlighted multiple pipeline and corporate milestones. A Dec 10, 2025 preclinical LX9851 publication and a Jan 12, 2026 J.P. Morgan business update both saw small positive price moves. Conference and data-presentation announcements around sotagliflozin produced mild reactions, including a negative move on a Dec 5, 2025 clinical-data event. Against this backdrop, the FDA’s End-of-Phase 2 concurrence on pilavapadin’s Phase 3 design continues the progression of its pain portfolio.

Market Pulse Summary

The stock surged +19.1% in the session following this news. A strong positive reaction aligns with t...

Analysis

The stock surged +19.1% in the session following this news. A strong positive reaction aligns with the FDA’s lack of objections to advancing pilavapadin’s 10 mg dose into two Phase 3 registrational studies. Historically, clinical-trial headlines for this name have produced large moves (average 39.25%), including sharp downside on prior pilavapadin data, so any outsized upside could have been sensitive to changing sentiment.

Key Terms

end-of-phase 2, u.s. food and drug administration, diabetic peripheral neuropathic pain, placebo-controlled, +4 more

8 terms

end-of-phase 2 regulatory

"announced the successful completion of the End-of-Phase 2 (EOP2) Meeting"

End-of-phase 2 is the development milestone when a drug or medical treatment completes its mid-stage human testing and the sponsor and regulators review the results to decide whether and how to proceed to larger late-stage trials. It matters to investors because this review signals whether the product showed enough benefit and acceptable safety to justify expensive Phase 3 studies, much like passing a major exam before committing to the final, costly year of a degree, and can materially affect a company’s value and funding needs.

u.s. food and drug administration regulatory

"Meeting with the U.S. Food and Drug Administration (FDA) for pilavapadin"

The U.S. Food and Drug Administration is the federal agency that evaluates and enforces safety, effectiveness and labeling standards for medicines, medical devices, vaccines, food and related products before they reach consumers. For investors it matters because FDA approvals, warnings or recalls determine whether a product can be sold, how quickly it reaches the market and how costly compliance will be—changes that directly affect a company’s revenue, costs and stock value.

diabetic peripheral neuropathic pain medical

"for pilavapadin in diabetic peripheral neuropathic pain (DPNP)"

Diabetic peripheral neuropathic pain is chronic pain caused by nerve damage in the hands and feet resulting from long-term high blood sugar. Think of it as frayed electrical wiring in the body that sends wrong or amplified pain signals. It matters to investors because its prevalence drives demand for drugs, medical devices and therapies, affects healthcare costs and reimbursement decisions, and shapes the commercial potential of treatments in development.

placebo-controlled medical

"two placebo-controlled, 12-week, two arm registrational studies"

"Placebo-controlled" describes a testing method where one group receives the actual treatment or intervention, while another group receives a harmless, inactive version called a placebo. This approach helps determine whether the real treatment has genuine effects beyond psychological expectations. For investors, understanding this ensures confidence that reported benefits are real and not influenced by bias or false perceptions.

registrational studies regulatory

"two placebo-controlled, 12-week, two arm registrational studies"

Clinical trials run specifically to provide the evidence regulators require for approval of a new drug, device, or treatment. They are the final, rigorous tests—like a product’s “final exam” or blueprint review—that determine whether a therapy can legally be marketed, so their outcomes directly affect a company’s ability to generate revenue, timelines to market and overall investment risk.

primary endpoint medical

"The primary endpoint of the Phase 3 studies will be the change"

The primary endpoint is the single main result a clinical study is designed to measure to decide if a treatment works, like the finish line in a race that tells you who won. Investors care because meeting or missing this goal drives regulatory decisions, future sales expectations and stock value — it turns trial data into a clear yes-or-no signal about a drug’s commercial prospects.

average daily pain score medical

"the change in average daily pain score (ADPS) from baseline"

A patient-reported measure that averages a person’s self-rated level of pain over each day, usually on a simple numeric scale; it summarizes how much pain people experience on a typical day during a treatment or study. Investors watch it because changes in the average daily pain score indicate whether a therapy, device or intervention meaningfully relieves symptoms, which affects clinical approval chances, reimbursement, market demand and commercial success—think of it like a daily thermometer for treatment effectiveness.

non-opioid medical

"the first non-opioid DPNP medicine available to patients"

Non-opioid describes medicines or therapies that relieve pain or treat conditions without using opioid drugs, which act on the brain’s opioid receptors. For investors, non-opioid products matter because they often face fewer addiction and regulatory risks, may win faster approvals or wider adoption, and can open new markets much like a different tool in a toolbox that solves the same problem without the same safety concerns.

AI-generated analysis. Not financial advice.

– No objections raised by FDA to advancement of pilavapadin into Phase 3 development utilizing two-arm registrational studies of 10 mg daily dose compared to placebo –

THE WOODLANDS, Texas, Jan. 21, 2026 (GLOBE NEWSWIRE) -- Lexicon Pharmaceuticals, Inc. (Nasdaq: LXRX) today announced the successful completion of the End-of-Phase 2 (EOP2) Meeting with the U.S. Food and Drug Administration (FDA) for pilavapadin in diabetic peripheral neuropathic pain (DPNP). During the meeting, the FDA raised no objections to the advancement of pilavapadin into Phase 3 development, which would include two placebo-controlled, 12-week, two arm registrational studies comparing the 10 mg daily dose to placebo. The primary endpoint of the Phase 3 studies will be the change in average daily pain score (ADPS) from baseline to Week 12.

“Our End-of-Phase 2 meeting with FDA was productive and provided Lexicon with the insights needed to design a robust Phase 3 program, with the goal of making the first non-opioid DPNP medicine available to patients in over two decades,” said Mike Exton, Ph.D., chief executive officer and director of Lexicon. “Furthermore, the FDA did not require any unanticipated preclinical or clinical studies that would be expected to complicate or delay the advancement of this program into Phase 3 development and a potential regulatory submission.”

About Pilavapadin
Discovered using Lexicon’s unique approach to gene science, pilavapadin is a potent, once-daily, orally delivered, selective, investigational small molecule inhibitor of AAK1, a novel target for neuropathic pain which inhibits reuptake and recycling of neurotransmitters involved in pain signaling without affecting opiate pathways. Lexicon identified AAK1 in its target discovery efforts as a promising approach for the treatment of neuropathic pain. Preclinical studies of pilavapadin demonstrated central nervous system penetration and reduction in pain behavior in models of neuropathic pain without affecting opiate pathways.

About Lexicon Pharmaceuticals   
Lexicon is a biopharmaceutical company with a mission of pioneering medicines that transform patients’ lives. Through the Genome5000™ program, Lexicon’s unique genomics target discovery platform, Lexicon scientists studied the role and function of nearly 5,000 genes and identified more than 100 protein targets with significant therapeutic potential in a range of diseases. Through the precise targeting of these proteins, Lexicon is pioneering the discovery and development of innovative medicines to treat disease safely and effectively. Lexicon has a pipeline of promising drug candidates in discovery and clinical and preclinical development in neuropathic pain, hypertrophic cardiomyopathy (HCM), obesity, metabolism and other indications. For additional information, please visit www.lexpharma.com.   

Safe Harbor Statement   
This press release contains “forward-looking statements,” including statements relating to Lexicon’s financial position and long-term outlook on its business, including the commercialization of its approved products and the clinical development of, regulatory filings for, and potential therapeutic and commercial potential of its drug candidates. In addition, this press release also contains forward looking statements relating to Lexicon’s growth and future operating results, discovery, development and commercialization of products, strategic alliances and intellectual property, as well as other matters that are not historical facts or information. All forward-looking statements are based on management’s current assumptions and expectations and involve risks, uncertainties and other important factors, specifically including Lexicon’s ability to meet its capital requirements, successfully commercialize its approved products, successfully conduct preclinical and clinical development and obtain necessary regulatory approvals of its other drug candidates on its anticipated timelines, achieve its operational objectives, obtain patent protection for its discoveries and establish strategic alliances, as well as additional factors relating to manufacturing, intellectual property rights, and the therapeutic or commercial value of its approved products and other drug candidates. Any of these risks, uncertainties and other factors may cause Lexicon’s actual results to be materially different from any future results expressed or implied by such forward-looking statements. Information identifying such important factors is contained under “Risk Factors” in Lexicon’s annual report on Form 10-K for the year ended December 31, 2024, as filed with the Securities and Exchange Commission. Lexicon undertakes no obligation to update or revise any such forward-looking statements, whether as a result of new information, future events or otherwise.     

For Investor and Media Inquiries:
Lisa DeFrancesco   
Lexicon Pharmaceuticals, Inc.  
lexinvest@lexpharma.com 

FAQ

What did Lexicon announce about pilavapadin on January 21, 2026 (LXRX)?

Lexicon announced completion of an End-of-Phase 2 meeting with the FDA and that the FDA raised no objections to advancing pilavapadin into Phase 3.

What Phase 3 design did Lexicon and FDA agree for pilavapadin (LXRX)?

The Phase 3 program will consist of two 12-week, two-arm placebo-controlled registrational studies comparing 10 mg daily to placebo.

What is the primary endpoint for pilavapadin Phase 3 studies for LXRX?

The primary endpoint is the change in average daily pain score (ADPS) from baseline to Week 12.

Did the FDA require extra preclinical or clinical studies for pilavapadin (LXRX)?

No; the FDA did not require any unanticipated preclinical or clinical studies expected to complicate or delay Phase 3.

Does Lexicon have FDA approval for pilavapadin after the EOP2 meeting (LXRX)?

No; the FDA raised no objections to Phase 3, but regulatory approval will depend on successful Phase 3 results and any later submissions.

What dose will pilavapadin use in the planned Phase 3 registrational trials for LXRX?

The planned registrational studies will evaluate a 10 mg daily dose of pilavapadin versus placebo.