Lexicon Pharmaceuticals Provides a Business and Pipeline Update at the 44th Annual J.P. Morgan Healthcare Conference
Rhea-AI Summary
Lexicon Pharmaceuticals (Nasdaq: LXRX) provided a business and pipeline update at the 44th Annual J.P. Morgan Healthcare Conference on January 12, 2026, and will present on January 15 at 12:00 p.m. PT (3:00 p.m. ET).
Key program timelines: the pivotal SONATA-HCM Phase 3 study of sotagliflozin targets enrollment completion in mid-2026 with topline results expected in Q1 2027. ZYNQUISTA® (sotagliflozin) for type 1 diabetes remains on track for an NDA resubmission and potential approval in 2026 contingent on STENO1 patient exposure and safety data. Pilavapadin advanced via an End-of-Phase 2 meeting and partnership discussions continue.
Commercial and finance: Lexicon triggered a $10 million milestone from Novo Nordisk for LX9851, has received $45 million to date with up to $950 million in remaining milestones plus tiered royalties, and ended 2025 with $125.2 million in cash, investments and restricted cash, which the company says supports operations into 2027 (excluding milestone impacts).
Positive
- SONATA-HCM enrollment on track for 500 patients with completion targeted in mid-2026
- Topline SONATA-HCM results anticipated in Q1 2027
- ZYNQUISTA NDA resubmission possible in 2026 per FDA feedback if STENO1 meets data requirements
- $10 million milestone triggered for LX9851 with $45 million received to date
- Cash, investments and restricted cash of $125.2 million at year-end 2025, supporting operations into 2027
Negative
- Regulatory approval for ZYNQUISTA depends on STENO1 meeting FDA patient exposure and safety data requirements
- 2025 cash runway projection excludes milestone payments and other non-dilutive capital, creating funding uncertainty past 2027 without milestones
News Market Reaction
On the day this news was published, LXRX gained 0.85%, reflecting a mild positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
Key Figures
Market Reality Check
Peers on Argus
LXRX showed a modest pre-news decline of 0.85% while key biotech peers were mixed; notably, FULC appeared on the momentum scanner, moving up 5.28% without same-day news, suggesting today’s Lexicon update is company-specific rather than part of a coordinated sector move.
Historical Context
| Date | Event | Sentiment | Move | Catalyst |
|---|---|---|---|---|
| Jan 07 | Conference presentation | Neutral | +2.6% | Announcement of Lexicon’s upcoming presentation at the 44th J.P. Morgan conference. |
| Dec 10 | Preclinical data | Positive | +0.8% | Preclinical ACSL5 data reinforcing the scientific rationale for obesity candidate LX9851. |
| Dec 05 | Clinical data update | Neutral | -1.4% | Notice of sotagliflozin adipose distribution data presentation in HFpEF at CVCT 2025. |
| Nov 25 | Investor conferences | Neutral | -0.7% | Participation in two December 2025 healthcare investor conferences for corporate visibility. |
| Nov 11 | Investor conference | Neutral | +9.9% | Fireside chat participation at Jefferies 2025 London Healthcare Conference. |
Recent news flow has been dominated by conference participation and scientific updates, with share price reactions generally modest and often positive, indicating that investors have historically responded constructively to visibility and pipeline-related communications.
Over the last few months, Lexicon’s disclosures have focused on investor visibility and scientific validation. Conference participation at events like Jefferies, Piper Sandler, Evercore and the 44th Annual J.P. Morgan Healthcare Conference has been a recurring theme. Separately, publication of preclinical data reinforcing the rationale for LX9851 highlighted the Novo Nordisk collaboration. Compared with those largely visibility-driven updates, today’s announcement adds concrete pipeline timelines and financial milestones into 2026–2027.
Market Pulse Summary
This announcement outlines a broad set of catalysts for Lexicon, including SONATA-HCM Phase 3 timelines, a potential Zynquista NDA resubmission in 2026, and meaningful LX9851 milestones with Novo Nordisk, alongside a reported $125.2 million year-end 2025 cash position and runway into 2027. Investors may focus on execution of the 500-patient HCM trial, regulatory feedback around STENO1, and progress on pilavapadin partnering as key markers of continued de-risking.
Key Terms
new drug application (nda) regulatory
diabetic ketoacidosis (dka) medical
investigator-initiated study medical
end-of-phase 2 meeting regulatory
ind-enabling activities regulatory
AI-generated analysis. Not financial advice.
SONATA-HCM on track for enrollment completion in 2026 and topline data in 2027
Zynquista on track for NDA resubmission and potential approval in 2026
Company presentation January 15 at 12:00 p.m. PT (3:00 p.m. ET)
THE WOODLANDS, Texas, Jan. 12, 2026 (GLOBE NEWSWIRE) -- Lexicon Pharmaceuticals, Inc. (Nasdaq: LXRX) today announced a business and pipeline update at the 44th Annual J.P. Morgan Healthcare Conference taking place January 12-15, 2026 in San Francisco.
“As we look ahead to 2026, Lexicon stands at the threshold of multiple potential catalysts demonstrating the strength of our pipeline and our cardiometabolic expertise. We have pioneered entirely new classes of investigative treatments for critical unmet medical needs, and advanced them into late-stage development,” said Mike Exton, Ph.D., Lexicon’s chief executive officer and director. “We're executing on multiple fronts to deliver breakthrough therapies for patients. We believe our strategic R&D investments will translate into tangible progress during 2026, driving value for both our shareholders and the patient communities we serve.”
“As a result of our efforts in 2025 to reduce our operating expenses and become increasingly efficient in our operations, we ended the year with a strong cash balance sufficient to support the advancement of our programs and achieve key milestones into 2027,” said Scott Coiante, Lexicon’s senior vice president and chief financial officer.
Business and Pipeline Highlights
Sotagliflozin for Hypertrophic Cardiomyopathy (HCM)
The SONATA-HCM pivotal Phase 3 study evaluating sotagliflozin in HCM remains on track
- The study is targeting enrollment of 500 patients with both obstructive and non-obstructive HCM, with anticipated enrollment completion in mid-2026. Topline results are anticipated in Q1 2027.
ZYNQUISTA® (sotagliflozin) for Type 1 Diabetes (T1D)
Lexicon remains on track for New Drug Application (NDA) resubmission in 2026 based on FDA feedback and additional clinical data from the STENO1 study
- Based on current STENO1 enrollment estimates, regulatory feedback from the U.S. Food and Drug Administration (FDA) supports a potential NDA resubmission and regulatory approval in 2026, if the patient exposure and safety data requirements identified by the FDA for STENO1 are achieved.
- STENO1 is a third-party funded, investigator-initiated study of sotagliflozin being conducted by the Steno Diabetes Center (Denmark).
- The FDA provided feedback that the STENO1 study appears to be of adequate design and employs sufficient data collection methods to provide viable evidence of the incidence of diabetic ketoacidosis (DKA) with adequate safety data, prior to its completion, to support review of a resubmission of the NDA for Zynquista as an adjunct to insulin for glycemic control in adults with T1D.
Pilavapadin for Neuropathic Pain
Lexicon and the FDA held a productive End-of-Phase 2 meeting in the fourth quarter of 2025
- Lexicon continues to advance partnership discussions to maximize the global potential of this investigative therapy.
- Significant unmet need exists for new, non-opioid alternatives to pain therapy with various efforts underway to prioritize new methods of pain relief, including the potential introduction of supportive legislation.
Global Commercial Progress and Strategic Partnerships
International Expansion of sotagliflozin program by Viatris
- Regulatory approval received in the United Arab Emirates (UAE) with commercial supply provided by Lexicon and regulatory applications submitted in several other markets including Canada, Australia and New Zealand in 2025.
- Additional regulatory submissions and approvals are expected throughout 2026 in key international markets.
Advancement of LX9851 (oral ACSL5 inhibitor) for Obesity by Novo Nordisk
- IND-enabling activities completed by Lexicon.
$10 million milestone payment triggered in January, with potential for up to an additional$20 million in milestone payments in 2026.$45 million received from Novo Nordisk to date; up to$950 million in remaining potential milestones plus tiered royalties on net sales.
2025 Financial Update
- Lexicon ended 2025 with cash, investments and restricted cash of
$125.2 million (unaudited), sufficient to support planned operations into 2027.- Cash runway excludes the impact of milestone payments related to LX9851 and other non-dilutive capital opportunities related to pilavapadin.
Presentation at the J.P. Morgan Healthcare Conference
Mike Exton, Ph.D. Lexicon’s chief executive officer and director, will present a company update on January 15, 12:00 p.m. PT (3:00 p.m. ET). Scott Coiante, Lexicon’s chief financial officer, and Craig Granowitz, M.D., Ph.D., Lexicon’s chief medical officer, will participate in Q&A.
The live event and replay of the presentations can be accessed via the Events page of the Company’s website at https://investors.lexpharma.com/.
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 safely and effectively treat disease. Lexicon has advanced multiple medicines to market and has a pipeline of promising drug candidates in discovery and clinical and preclinical development in heart failure, neuropathic pain, obesity, cardiology, diabetes 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
When will Lexicon (LXRX) present at the J.P. Morgan Healthcare Conference in 2026?
What is the timeline for SONATA-HCM enrollment and topline data for LXRX sotagliflozin?
Can ZYNQUISTA (sotagliflozin) for type 1 diabetes achieve FDA approval in 2026 for LXRX?
What milestone payments has Lexicon (LXRX) received from Novo Nordisk for LX9851 and what remains?
How much cash did Lexicon (LXRX) report at year-end 2025 and how long is the runway?
