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Sep 30, 2021
Lexicon Pharmaceuticals Q3 2021 Earnings Report
Reported third quarter financial results and provided a clinical update.
Key Takeaways
Lexicon Pharmaceuticals reported its third quarter 2021 financial results, with revenues being negligible compared to the previous year due to the sale of XERMELO®. Research and development expenses decreased, as did selling, general, and administrative expenses. The net loss for the quarter was $23.1 million, compared to a net income of $82.6 million in the same period of 2020, which included a gain from the sale of XERMELO®.
On track for submission around year-end of new drug application for sotagliflozin for the treatment of heart failure in patients with type 2 diabetes.
ESC issued new treatment guidelines adding SGLT inhibitors to the standard of care for the prevention and treatment of heart failure.
Patient enrollment continued in two ongoing Phase 2 clinical studies of LX9211 for the treatment of diabetic peripheral neuropathic pain and the treatment of post-herpetic neuralgia.
Craig B. Granowitz, M.D., Ph.D. joined Lexicon as senior vice president and chief medical officer.
Forward Guidance
Lexicon management will hold a live conference call and webcast today at 5:00 pm ET / 4:00 pm CT to review its financial and operating results and to provide a general business update.
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