Lexicon Pharmaceuticals Inc Stock Price, News & Analysis

Lexicon Pharmaceuticals announced that Jeffrey L. Wade, President and CFO, will present at the 21st Annual Needham Virtual Healthcare Conference on April 12, 2022, at 8:45 a.m. ET. The event will be available via webcast on Lexicon's website, with an archived version accessible for two weeks post-event.

Lexicon focuses on pioneering medicines through its Genome5000™ program, identifying therapeutic targets across various diseases. The company has one medicine on the market and a pipeline in clinical and preclinical stages, including treatments for heart failure, neuropathic pain, and diabetes.

Lexicon Pharmaceuticals (LXRX) welcomes new heart failure management guidelines from the AHA, ACC, and HFSA. The guidelines recommend SGLT2 inhibitors as a first-line treatment for heart failure (HF) across various categories, strengthening the therapeutic landscape for this condition. Notably, they highlight the need for improved medical therapy optimization during hospitalizations. Lexicon's sotagliflozin is recognized for its unique mechanism, with clinical trials validating its efficacy. The guidelines replace earlier standards and are expected to boost SGLT2 inhibitor adoption.

Lexicon Pharmaceuticals announced significant findings from the SCORED Phase 3 clinical trial for sotagliflozin, presented at the American College of Cardiology’s 71st Annual Scientific Session. The analysis, involving 10,584 patients with type 2 diabetes and chronic kidney disease, revealed a 21% reduction in major adverse cardiovascular events (MACE) in patients with cardiovascular disease and a 26% reduction in those without. The results underscore sotagliflozin's potential in reducing cardiovascular death, myocardial infarction, and stroke, reinforcing its therapeutic significance.

Lexicon Pharmaceuticals (Nasdaq: LXRX) announced a late-breaking presentation at the American College of Cardiology’s 71st Annual Scientific Session. Dr. Deepak L. Bhatt will present a secondary analysis of sotagliflozin data from the SCORED Phase 3 trial on April 2, 2022. The analysis will focus on the reduction of cardiovascular death, myocardial infarction, and stroke. Sotagliflozin is approved in the EU for type 1 diabetes. Despite its approval, commercial launch in the U.S. is pending. For more details, visit Lexicon's website.

Lexicon Pharmaceuticals (Nasdaq: LXRX) has secured a loan facility with Oxford Finance LLC, offering up to $150 million to fund commercial preparations and the potential launch of sotagliflozin for heart failure. The agreement includes four tranches, with an initial $25 million funded at closing. Additional funds are contingent upon regulatory approval from the FDA. The loan carries a floating interest rate starting at 8.01%. Lexicon also granted warrants for 420,673 shares to Oxford, exercisable through 2027, providing a financial flexibility as the company approaches important regulatory milestones.

Lexicon Pharmaceuticals (Nasdaq: LXRX) announced its financial results for Q4 and full-year 2021, reporting negligible revenues due to the sale of its XERMELO product in 2020. R&D expenses surged to $16.5 million in Q4 2021, reflecting increased costs for LX9211 studies, while SG&A expenses rose to $8.8 million. The company's net loss for Q4 was $25.6 million, compared to $5.5 million in Q4 2020, totaling a net loss of $87.8 million for 2021. Lexicon also voluntarily withdrew its NDA for sotagliflozin to correct a technical issue, with plans to resubmit in Q2 2022.

Lexicon Pharmaceuticals (Nasdaq: LXRX) announced the voluntary withdrawal of its New Drug Application (NDA) for sotagliflozin due to a recently identified technical issue. The company plans to resubmit the NDA after correcting the submission in consultation with the FDA. The resubmission is prioritized and expected early in Q2 2022. Sotagliflozin is already approved in the EU for type 1 diabetes but is not yet commercially launched in the U.S.

Lexicon Pharmaceuticals (Nasdaq: LXRX) will announce its Q4 2021 financial results on February 28, 2022, prior to market opening. A conference call and webcast will follow at 8:00 a.m. ET to discuss financial outcomes and business updates. Lexicon focuses on pioneering medicines through its Genome5000™ program, which studies gene roles and targets for therapeutic potential across various diseases, including heart failure and diabetes. The company has advanced one medicine to market and has multiple candidates in development.

Lexicon Pharmaceuticals (LXRX) has submitted a New Drug Application (NDA) for sotagliflozin to the FDA, targeting heart failure in patients with type 2 diabetes. If approved, the launch is anticipated in the second half of 2022. The proposed label highlights recent heart failure concerns as per the SOLOIST-WHF study. Additionally, Lexicon expects results from two Phase 2 studies on LX9211 for neuropathic pain in early 2022. Both initiatives address significant market needs, with the potential for blockbuster success.