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Mar 31, 2022
Lexicon Pharmaceuticals Q1 2022 Earnings Report
Reported financial results for Q1 2022 and provided a clinical update.
Key Takeaways
Lexicon Pharmaceuticals reported a net loss of $23.5 million, or $0.16 per share, for the first quarter of 2022. The company is preparing to resubmit its New Drug Application for sotagliflozin and expects top-line results for the Phase 2 study of LX9211 in diabetic peripheral neuropathic pain by the end of this quarter.
Plans to resubmit NDA for sotagliflozin for heart failure treatment this month.
Received confirmation from the FDA in late April that it is aligned with resubmission plans.
Committed access to sufficient resources to support commercial preparations for launch in the first half of 2023.
Top-line results for Phase 2 study of LX9211 in diabetic peripheral neuropathic pain expected by the end of this quarter.
Lexicon Pharmaceuticals
Lexicon Pharmaceuticals
Forward Guidance
Lexicon is focused on the clinical development, regulatory filings, and potential therapeutic and commercial potential of sotagliflozin, LX9211 and its other potential drug candidates.
Positive Outlook
- Successful resubmission of NDA for sotagliflozin.
- Positive clinical trial results for sotagliflozin.
- Advancement of LX9211 clinical trials.
- Potential regulatory approval for drug candidates.
- Establishment of strategic alliances.
Challenges Ahead
- Ability to meet its capital requirements.
- Successful conduct preclinical and clinical development.
- Obtain necessary regulatory approvals of sotagliflozin, LX9211 and its other potential drug candidates on its anticipated timelines
- Successfully commercialize any products for which it obtains regulatory approval.
- Achieve its operational objectives