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Jun 30, 2021
Lexicon Pharmaceuticals Q2 2021 Earnings Report
Reported a decrease in revenues primarily due to the absence of product revenues from XERMELO sale and a decrease in research and development expenses due to the completion of clinical studies.
Key Takeaways
Lexicon Pharmaceuticals reported its Q2 2021 financial results, with revenues decreasing to $0.2 million from $9.2 million in the corresponding period of 2020, primarily due to the sale of XERMELO. Research and development expenses also decreased to $10.3 million from $57.3 million. Net loss for the quarter was $18.1 million, or $0.13 per share.
Revenues decreased to $0.2 million due to the absence of product revenues from XERMELO sale.
Research and development expenses decreased to $10.3 million due to the completion of clinical studies.
Selling, general and administrative expenses decreased to $7.9 million due to lower salaries and marketing expenses.
Net loss was $18.1 million, or $0.13 per share, compared to a net loss of $69.1 million, or $0.65 per share, in the corresponding period of 2020.
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