Lexicon Pharmaceuticals Inc Stock Price, News & Analysis

Lexicon Pharmaceuticals (LXRX) announced two significant oral presentations for its investigational drug LX9211 at the World Brain Disorders and Neuroscience Summit 2022 in Munich, Germany. The first presentation on October 29 will cover positive results from the RELIEF-DPN-1 trial, demonstrating its efficacy in treating diabetic peripheral neuropathic pain. The second presentation on October 31 will discuss LX9211's effects on spasticity in preclinical models. The company aims to share these promising data with the scientific community while targeting further developments for LX9211.

Lexicon Pharmaceuticals (Nasdaq: LXRX) has presented a new analysis of the SOLOIST-WHF Phase 3 trial results of sotagliflozin at the Heart Failure Society of America Annual Scientific Meeting 2022. This investigational dual SGLT1 and SGLT2 inhibitor demonstrated a reduction in heart failure-related events compared to placebo. The findings support sotagliflozin's potential in treating heart failure, highlighting its effectiveness in preventing both initial and recurrent heart failure events among hospitalized patients. Lexicon continues to pursue its innovative drug development strategy.

Lexicon Pharmaceuticals (Nasdaq: LXRX) announced significant advancements in its investigational drug LX9211, aimed at treating neuropathic pain. Key presentations include findings from the Phase 2 RELIEF-DPN-1 study at PAINWeek 2022 and the IASP World Congress. The study, involving 319 patients across 40 sites, showed statistically significant reductions in pain compared to placebo, with p-values of 0.007 and 0.030 for low and high-dose arms, respectively. The drug has received FDA Fast Track designation, enhancing its potential as a treatment for diabetic peripheral neuropathic pain.

Lexicon Pharmaceuticals (Nasdaq: LXRX) announced significant findings regarding its drug sotagliflozin at the European Society for Cardiology Congress, showcasing its dual SGLT1 and SGLT2 inhibition mechanism. Two posters presented highlight its effects on inflammation and thrombosis, suggesting potential benefits in ischemic disease. A study published in Diabetes Care indicates differing cardiometabolic impacts compared to Empagliflozin. Both the SCORED and SOLOIST-WHF Phase 3 studies of sotagliflozin achieved primary endpoints, supporting its FDA application for heart failure treatment.

Lexicon Pharmaceuticals (Nasdaq: LXRX) announced the sale of 2,526,540 additional shares in a public offering, bringing total shares sold to 19,370,140 and gross proceeds to approximately $48.4 million. Concurrently, two affiliates of Lexicon's largest shareholder acquired an additional 2,573,460 shares, totaling 19,729,860 shares and gross proceeds of about $49.3 million. Funds will be used for pre-commercial activities for sotagliflozin in heart failure, development of other candidates, and general corporate purposes.

Lexicon Pharmaceuticals (Nasdaq: LXRX) announced significant milestones in its Q2 2022 financial results. The FDA accepted the New Drug Application for sotagliflozin aimed at treating heart failure, with a PDUFA action date expected in May 2023. Moreover, the company achieved proof-of-concept for LX9211 in treating painful diabetic neuropathy, with full results anticipated later this year. However, net losses increased to $24.6 million, up from $18.1 million year-over-year, while cash reserves decreased to $62 million as of June 30, 2022.

Lexicon Pharmaceuticals (Nasdaq: LXRX) is set to release its second quarter 2022 financial results on August 2, 2022, following market close. A conference call will be held at 5:00 p.m. ET to discuss the results and provide a business update. The company focuses on innovative medicines, with a pipeline in heart failure, neuropathic pain, diabetes, and metabolism, leveraging insights from its Genome5000™ program. Investors can access the live webcast on the company’s website for further details.

Lexicon Pharmaceuticals (LXRX) announced a public offering of 16,843,600 shares at $2.50 each, aiming to raise approximately $42.1 million. The offering, expected to close on August 1, 2022, is part of a strategy to fund activities related to the commercial launch of sotagliflozin for heart failure and the development of LX9211 for neuropathic pain. Additionally, Lexicon will conduct a concurrent private placement of 17,156,400 shares to raise around $42.9 million. Both offerings are subject to customary closing conditions.

Lexicon Pharmaceuticals (Nasdaq: LXRX) announced an underwritten public offering of its common stock, with underwriters granted a 30-day option for additional shares. Proceeds will fund pre-commercial and commercial activities for sotagliflozin in heart failure, development of LX9211 for neuropathic pain, and general corporate purposes. The offering follows a shelf registration effective since September 14, 2021. Citigroup and Piper Sandler are managing the offering.