Lexicon Pharmaceuticals Q1 2020 Earnings Report
Key Takeaways
Lexicon Pharmaceuticals reported a decrease in revenues to $8.0 million, driven by lower collaborative revenues, although XERMELO net sales increased by 17%. R&D expenses significantly increased due to sotagliflozin development costs. The net loss was $66.6 million, or $0.63 per share, compared to a net loss of $21.8 million, or $0.21 per share, in the prior year.
XERMELO U.S. net sales increased by 17% to $7.9 million in Q1 2020.
The company has fully enrolled the first efficacy cohort of 20 patients in the Phase 2 telotristat ethyl study in biliary tract cancer, with top-line data expected later this year.
Lexicon is advancing LX9211 into a proof-of-concept study in diabetic peripheral neuropathic pain, expected to initiate mid-year.
Progress is being made on the close-out of the two sotagliflozin outcome studies, SCORED and SOLOIST.
Lexicon Pharmaceuticals
Lexicon Pharmaceuticals
Lexicon Pharmaceuticals Revenue by Segment
Forward Guidance
Lexicon anticipates several near-term milestones, including the initiation of a Phase 2 study for LX9211 in diabetic peripheral neuropathic pain in mid-2020 and data from the first efficacy cohort of the Phase 2 study of telotristat ethyl in biliary tract cancer in Q4 2020.
Positive Outlook
- Initiation of the Phase 2 study for LX9211 in diabetic peripheral neuropathic pain in mid-2020
- Data from the first efficacy cohort of the Phase 2 study of telotristat ethyl in biliary tract cancer in Q4 2020
- Manuscript publications for XERMELO in carcinoid syndrome diarrhea in 2020
Revenue & Expenses
Visualization of income flow from segment revenue to net income