Lexicon Pharmaceuticals, Inc. Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2023
November 08, 2023 at 05:52 pm IST
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Lexicon Pharmaceuticals, Inc. reported earnings results for the third quarter and nine months ended September 30, 2023. For the third quarter, the company reported revenue was USD 0.162 million compared to USD 0.039 million a year ago. Net loss was USD 50.53 million compared to USD 23.39 million a year ago. Basic loss per share from continuing operations was USD 0.21 compared to USD 0.13 a year ago.
For the nine months, revenue was USD 0.502 million compared to USD 0.111 million a year ago. Net loss was USD 127.36 million compared to USD 71.45 million a year ago. Basic loss per share from continuing operations was USD 0.6 compared to USD 0.45 a year ago.
Lexicon Pharmaceuticals, Inc. is a biopharmaceutical company. The Company is focused on the discovery, development, and commercialization of pharmaceutical products for the treatment of human disease. The Company pipeline includes INPEFA (sotagliflozin), LX9211, and LX9851. Sotagliflozin is an orally delivered small molecule compound that is being developed for the treatment of heart failure and type I diabetes, and type II diabetes mellitus, chronic kidney disease and other cardiovascular risk factors. LX9211 is an orally delivered small molecule compound that is being developed for the treatment of neuropathic pain. The Company is conducting a Phase II clinical trial of LX9211 in diabetic peripheral neuropathic pain and a second Phase II clinical trial of LX9211 in post-herpetic neuralgia. The Company is conducting preclinical development of LX9851, an orally delivered small molecule drug candidate, as a treatment for obesity and tool for weight management.