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.
Lexicon Pharmaceuticals, Inc. (NASDAQ: LXRX) is a biopharmaceutical company whose news flow centers on cardiometabolic and neurological drug development, regulatory interactions and strategic collaborations. The company describes a mission of pioneering medicines that transform patients’ lives, supported by its Genome5000™ genomics platform, which identified more than 100 protein targets with therapeutic potential across multiple diseases.
News about Lexicon frequently highlights clinical data and conference presentations for sotagliflozin, an oral SGLT2 and SGLT1 inhibitor studied in approximately 20,000 patients with heart failure, diabetes and chronic kidney disease. Recent updates include results in heart failure with preserved ejection fraction, ongoing enrollment in the SONATA-HCM Phase 3 study for hypertrophic cardiomyopathy, and work toward regulatory pathways for ZYNQUISTA® in type 1 diabetes.
Investors and healthcare observers can also follow developments in pilavapadin (LX9211) for diabetic peripheral neuropathic pain, where Lexicon has reported Phase 2 and Phase 2b data and End-of-Phase 2 FDA discussions, as well as LX9851, a first-in-class ACSL5 inhibitor for obesity and cardiometabolic disorders licensed to Novo Nordisk. Company news includes licensing milestones, financial results, participation in major healthcare conferences and policy-focused initiatives such as a chronic pain roundtable and white paper on non-opioid treatments.
This LXRX news page aggregates these updates in one place, covering earnings releases, pipeline milestones, regulatory announcements, scientific publications and partnership news drawn from Lexicon’s public statements and SEC filings.
Lexicon Pharmaceuticals (Nasdaq: LXRX) reported financial results for Q3 2020, showing revenues dropped to $6.6 million, down from $294.4 million in Q3 2019, due to the loss of collaborative revenues from Sanofi. Despite this, net income stood at $82.6 million, or $0.71 per diluted share. The company is focusing on the advancement of its drug candidate LX9211 for neuropathic pain, with two Phase 2 studies underway. Significant debt reduction of >90% was achieved, including the termination of a $150 million loan.
Lexicon Pharmaceuticals (Nasdaq: LXRX) is set to release its Q3 2020 financial results on October 29, 2020, before market opening. The management will host a conference call at 8:00 a.m. ET to discuss these results and provide an update on clinical developments. Lexicon is known for pioneering medicines and has an active pipeline focused on diabetes, neuropathic pain, and more. The company emphasizes the significance of its Genome5000™ program in discovering various therapeutic targets.
Lexicon Pharmaceuticals (Nasdaq: LXRX) announced its agreement to exchange $62.55 million of its 5.25% Convertible Senior Notes due 2021 for $41.03 million in cash and 8.75 million shares of common stock. The transaction, expected to close by September 28, 2020, aims to reduce remaining interest expenses by approximately $3.9 million. Following these exchanges, Lexicon's outstanding debt will have decreased by about 90% since June 30, 2020, aligning with its focus on the LX9211 neuropathic pain program and other R&D initiatives.
Lexicon Pharmaceuticals (Nasdaq: LXRX) has commenced patient dosing in the RELIEF-DPN-1 study, a Phase 2 clinical trial evaluating LX9211 for diabetic peripheral neuropathic pain. LX9211 is an oral AAK1 inhibitor aimed at reducing pain without addictive effects. The study aims to enroll 300 patients across 30 U.S. sites, focusing on changes in pain scores over six weeks. Lexicon prepares for additional studies in related pain conditions, leveraging promising preclinical results and a favorable Phase 1 safety profile.
Lexicon Pharmaceuticals (Nasdaq: LXRX) announces participation in two upcoming virtual conferences: Citi's 15th Annual BioPharma Conference on September 9, 2020, and Wells Fargo's 2020 Virtual Healthcare Conference on September 10, 2020. Jeffrey L. Wade, the executive vice president and CFO, will present at the Wells Fargo conference at 2:00 p.m. ET, with the webcast available on Lexicon's website. Lexicon focuses on pioneering medicines through its Genome5000™ program, targeting significant therapeutic proteins to treat various diseases.
GTCR has finalized an agreement for its portfolio company, TerSera Therapeutics, to acquire Xermelo® (telotristat ethyl) from Lexicon Pharmaceuticals (LXRX) for approximately $159 million, with additional milestone payments possible. Xermelo is the first approved oral therapy for carcinoid syndrome diarrhea. This acquisition will enhance TerSera's oncology portfolio, which already includes products like Zoladex® and Varubi®. The deal supports GTCR's strategy, reflecting commitment to growth in therapeutic areas.
Lexicon Pharmaceuticals (LXRX) is advancing its neuropathic pain program with the initiation of a Phase 2 clinical study for LX9211, targeting diabetic peripheral neuropathic pain. The RELIEF-DPN-1 study aims to enroll 300 patients across 30 U.S. sites. Additionally, Lexicon has agreed to sell its XERMELO product to TerSera for up to $224 million, including $159 million upfront, which will significantly reduce its debt, repaying a $150 million secured loan. This strategic shift emphasizes Lexicon’s focus on innovative pain therapies.
Lexicon Pharmaceuticals (Nasdaq: LXRX) has entered into an asset purchase agreement to sell XERMELO (telotristat ethyl) to TerSera Therapeutics for approximately $159 million, including a $155 million upfront payment. Lexicon may additionally receive up to $65 million in milestone payments and mid-teens royalties on net sales in biliary tract cancer. The agreement allows Lexicon to focus on LX9211 and reduce debt. The transaction is expected to close in Q3 2020, pending customary conditions.
Lexicon Pharmaceuticals (LXRX) reported a net loss of $69.1 million for Q2 2020, significantly higher than $23.0 million in the same period of 2019. Despite this, U.S. net sales of XERMELO increased by 21% year-over-year, reaching $9.0 million. Research and development expenses surged to $57.3 million due to external clinical costs following the end of its alliance with Sanofi. As of June 30, 2020, cash and investments totaled $201.9 million, down from $271.7 million at the end of 2019. The company continues to progress with its clinical pipeline, including a Phase 2 study for LX9211.
Lexicon Pharmaceuticals (LXRX) announced topline data from four Phase 3 studies of sotagliflozin for type 2 diabetes, including SOTA-MONO, SOTA-SU, SOTA-GLIM, and SOTA-INS. All studies achieved their primary objectives of reducing A1C levels. The findings indicated a generally favorable safety profile, with some gastrointestinal side effects noted. Notably, Lexicon stated that it does not plan to seek regulatory approval for sotagliflozin without a strategic partnership. These results will be presented at upcoming medical congresses.
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