THE WOODLANDS, Texas, Sept. 16, 2024 (GLOBE NEWSWIRE) -- Lexicon Pharmaceuticals, Inc. (Nasdaq: LXRX) today announced that Jeff Wade, president and chief operating officer, has decided to step down to pursue new opportunities outside of Lexicon, effective September 30, 2024. A search for a new chief financial officer is ongoing. For the past 25 years, Mr. Wade has served in a series of finance, corporate development, administrative and legal leadership positions at Lexicon, serving most recently as presiden ...

Study results aligned with positive clinical trial outcomes for type 1 diabetes treatment with sotagliflozin TIR measures approach target set by American Diabetes Association Data to be presented at the 60th Annual Meeting of the European Association for the Study of Diabetes (EASD) in Madrid, Spain and online THE WOODLANDS, Texas, Sept. 10, 2024 (GLOBE NEWSWIRE) -- Lexicon Pharmaceuticals, Inc. (Nasdaq: LXRX) today announced that data from the SOTA-INS CGM Phase 3 randomized clinical trial demonstrated tha ...

Company Overview - Lexicon Pharmaceuticals is a biopharmaceutical company focused on pioneering medicines that transform patients' lives [2] - The company has studied nearly 5,000 genes through its Genome5000™ program, identifying over 100 protein targets with significant therapeutic potential [2] - Lexicon is commercially launching INPEFA® (sotagliflozin) in the United States and has a pipeline of drug candidates in various stages of development for conditions such as neuropathic pain, diabetes, and metabolism [2] Upcoming Events - Lexicon management will participate in the H.C. Wainwright 26th Annual Global Investment Conference on September 10, 2024, at 12:30 PM ET [1] - The company will also attend the 2024 Cantor Fitzgerald Global Healthcare Conference on September 17, 2024, at 8:35 AM ET [1] - A simultaneous webcast for these events will be available on the Lexicon website, with recordings accessible for two weeks post-event [1]

Lexicon Pharmaceuticals, Inc. (LXRX) announced that the FDA plans to hold an advisory panel meeting to give a recommendation on whether to approve Zynquista (sotagliflozin), which has been developed as an adjunct to insulin therapy for glycemic control in adults with type 1 diabetes and chronic kidney disease (CKD). The meeting of the Endocrinologic and Metabolic Drugs Advisory Committee is scheduled to be held on Oct 31, 2024. However, despite scheduling an advisory committee meeting, the FDA did not chang ...

Lexicon Pharmaceuticals, Inc. (LXRX) announced a strategic review, including the reprioritization of its current portfolio of marketed products and pipeline candidates and reducing operational expenses, to drive future business growth. As part of the portfolio reprioritization, LXRX is looking to reduce its current headcount by almost 50%, which is likely to be completed later in the ongoing quarter. Owing to this, the company expects to reduce its operating costs by $40 million in 2025. The company also re ...

Company to Focus on Targeted Promotion of INPEFA® in Heart Failure While Prioritizing Investment in the Potential Launch of ZYNQUISTA™ Efforts Expected to Reduce 2025 Operating Costs by $40 Million THE WOODLANDS, Texas, Aug. 13, 2024 (GLOBE NEWSWIRE) -- Lexicon Pharmaceuticals, Inc. (Nasdaq: LXRX), today announced that, following a strategic review of its commercial and pipeline programs, it will refocus resources across the portfolio in support of opportunities where the company believes it can have the gr ...

THE WOODLANDS, Texas, Aug. 07, 2024 (GLOBE NEWSWIRE) -- Lexicon Pharmaceuticals, Inc. (Nasdaq: LXRX) today announced that three poster presentations will be delivered during the 2024 Annual Conference of the Association of Diabetes Care & Education Specialists being held August 9 - 12, 2024 at the Ernest N. Morial Convention Center in New Orleans, Louisiana. Posters will be displayed in the poster area of Exhibition Hall B from Friday, August 9 through Sunday, August 12. All three presentations will occur o ...

THE WOODLANDS, Texas, Aug. 07, 2024 (GLOBE NEWSWIRE) -- Lexicon Pharmaceuticals, Inc. (NASDAQ:LXRX) today announced that three poster presentations will be delivered during the 2024 Annual Conference of the Association of Diabetes Care & Education Specialists being held August 9 - 12, 2024 at the Ernest N. Morial Convention Center in New Orleans, Louisiana. Posters will be displayed in the poster area of Exhibition Hall B from Friday, August 9 through Sunday, August 12. All three presentations will occur on ...

2Q24 Earnings Presentation ‹#› Forward-Looking Statements • This presentation, including any oral presentation accompanying it, contains "forward-looking statements," including statements about Lexicon's strategy and operating performance and events or developments that we expect or anticipate will occur in the future, such as projections of our future results of operations or of our financial condition, the potential therapeutic and commercial potential of INPEFA® (sotagliflozin), ZYNQUISTA™ (sotagliflozin ...

Financial Data and Key Metrics Changes - Net sales for Q2 2024 were $1.6 million, with $2.7 million for the first half of 2024, showing significant growth compared to minimal revenues in the same period of 2023 [25][26] - R&D expenses increased to $17.6 million from $14.5 million in Q2 2023, primarily due to higher external R&D expenses [25] - SG&A expenses rose to $39.2 million from $30 million in Q2 2023, reflecting investments in the commercial launch of INPEFA [26] - Net loss for Q2 2024 was $53.4 million, or $0.17 per share, compared to a net loss of $44.9 million, or $0.22 per share, in Q2 2023 [26] Business Line Data and Key Metrics Changes - INPEFA's net sales showed modest growth, with improvements in filled TRx and the number of new prescribers, achieving a payer coverage of 48% [12][13] - Zynquista's NDA was resubmitted, with a PDUFA goal date set for December 20, 2024, indicating potential for commercial launch in early 2025 [7][15] - The Phase 3 study for Sotagliflozin in hypertrophic cardiomyopathy (HCM) is underway, with patient enrollment already initiated [7][18] Market Data and Key Metrics Changes - The market for SGLT therapies in heart failure remains underpenetrated, with significant growth potential despite strong recommendations in treatment guidelines [14] - The expected market access environment for Zynquista in Type 1 diabetes is anticipated to be more favorable than in heart failure, with over 400,000 adults in the U.S. potentially eligible for treatment [16][17] Company Strategy and Development Direction - The company aims to transform treatment landscapes across multiple therapeutic areas, focusing on innovative therapies and addressing unmet medical needs [6][11] - The strategic focus includes leveraging existing commercial infrastructure for Zynquista, targeting a concentrated group of endocrinologists [35] - The company is evaluating its strategy and resources to optimize success across its programs, with a focus on large markets and unmet needs [28][51] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the upcoming opportunities, including the potential launch of Zynquista and the initiation of the SONATA Phase 3 study for HCM [27][29] - The company is optimistic about the unique advantages of its drug candidates, particularly in addressing unmet needs in various therapeutic areas [10][11] Other Important Information - The company has a strong cash position, ending the quarter with $310 million in cash and investments [25] - LX9211 is on track for top-line data in Q2 2025, with significant potential in neuropathic pain treatment [21][22] - LX9851 is progressing into preclinical development, targeting obesity and weight management with a unique mechanism [23][24] Q&A Session Summary Question: Updates on Zynquista and its launch trajectory - Management discussed the preparation for an advisory committee meeting and the focus on the risk-benefit profile for Zynquista, particularly in patients with chronic kidney disease [30][32] - The commercial strategy involves leveraging existing sales teams to target endocrinologists, with expectations of a more concentrated market compared to heart failure [35][36] Question: AdCom preparations and launch strength comparison - Management confirmed preparations for the AdCom will focus on risk-benefit discussions, with expectations for a stronger launch trajectory for Zynquista compared to INPEFA due to unmet needs in the Type 1 diabetes market [37][40] Question: HCM program evolution and timelines - The HCM program is expected to have final data towards the end of 2026 or early 2027, with a treatment duration shorter than typical due to prior successes in related indications [49][50] Question: Feedback from trial sites and execution standards - Positive feedback has been received from trial sites, with a focus on the ease of patient enrollment and execution of the SONATA trial [52][53] Question: Safety profile of LX9851 and its applicability - Management expressed confidence in the safety profile of LX9851, with ongoing studies to assess long-term effects and potential applicability in other metabolic conditions [66][70]