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Jun 30, 2022

Lexicon Pharmaceuticals Q2 2022 Earnings Report

Reported financial results for Q2 2022 and provided a business update.

Key Takeaways

Lexicon Pharmaceuticals reported its Q2 2022 financial results, highlighted by the acceptance of the sotagliflozin New Drug Application (NDA) for heart failure by the FDA and positive top-line results from its Phase 2 RELIEF-DPN-1 study of LX9211 in painful diabetic neuropathy.

Sotagliflozin NDA for heart failure accepted for review by FDA, with PDUFA action date anticipated in May 2023.

LX9211 Phase 2 clinical proof-of-concept achieved in painful diabetic neuropathy.

A poster was presented evaluating the effect of sotagliflozin on major adverse cardiovascular events (MACE).

Patient enrollment continued in the Phase 2 proof-of-concept study of LX9211 for the treatment of post-herpetic neuralgia (RELIEF-PHN-1), from which top-line results are expected in the fourth quarter of 2022.

Total Revenue
$35K
Previous year: $234K
-85.0%
EPS
-$0.16
Previous year: -$0.13
+23.1%
Research and development expenses
$13.4M
Previous year: $10.3M
+30.2%
Selling, general and admin expenses
$10.7M
Previous year: $7.94M
+34.7%
Gross Profit
-$72K
Previous year: -$10M
-99.3%
Cash and Equivalents
$62M
Previous year: $119M
-47.7%
Free Cash Flow
-$24.4M
Previous year: -$20.9M
+17.1%
Total Assets
$112M
Previous year: $172M
-34.6%

Lexicon Pharmaceuticals

Lexicon Pharmaceuticals

Lexicon Pharmaceuticals Revenue by Segment

Forward Guidance

Lexicon expects to report top-line results in the fourth quarter of this year from a second proof-of-concept study of LX9211 in post-herpetic neuralgia.