Lexicon Pharmaceuticals Q4 2021 Earnings Report
Key Takeaways
Lexicon Pharmaceuticals reported negligible revenues for the fourth quarter. R&D expenses increased, while SG&A expenses also increased. The net loss for the quarter was $25.6 million, or $0.17 per share. As of December 31, 2021, Lexicon had $86.7 million in cash and investments.
Voluntarily withdrew the sotagliflozin NDA to correct a technical issue and plan to promptly resubmit early in the second quarter of 2022.
Completing and announcing top-line results in the coming months from our two proof-of-concept Phase 2 studies of LX9211 in diabetic peripheral neuropathic pain and post-herpetic neuralgia.
R&D expenses for the fourth quarter of 2021 increased to $16.5 million from $1.0 million for the corresponding period in 2020.
SG&A expenses for the fourth quarter of 2021 increased to $8.8 million from $6.4 million for the corresponding period in 2020, primarily due to higher legal fees during the quarter.