Welcome to our dedicated page for Lexicon Pharmaceuticals news (Ticker: LXRX), a resource for investors and traders seeking the latest updates and insights on Lexicon Pharmaceuticals stock.
Lexicon Pharmaceuticals, Inc. (symbol: LXRX) is a biopharmaceutical company dedicated to the discovery, development, and commercialization of innovative drugs to treat serious human diseases. Utilizing advanced genetics, Lexicon has developed a robust pipeline of novel drug candidates aimed at addressing a wide range of medical needs.
Research and Development: Lexicon's research team employs gene knockout technology to investigate thousands of potential drug targets in the human genome. This approach has enabled the company to gain a deep understanding of target biology, leading to the identification of new therapeutic interventions. Lexicon's systematic drug discovery process integrates recombinant DNA and chemistry technologies, allowing for the effective evaluation and advancement of promising drug candidates.
Key Products and Pipeline: Among Lexicon's notable drug candidates are LX9211, an orally delivered small molecule for neuropathic pain, and sotagliflozin (marketed as INPEFA®), another orally delivered small molecule for heart failure and type 1 diabetes. Sotagliflozin is a dual inhibitor of SGLT2 and SGLT1, proteins responsible for glucose regulation. The drug has demonstrated efficacy in clinical trials involving around 20,000 patients across multiple conditions, including diabetes and chronic kidney disease.
Recent Achievements: Lexicon has successfully launched INPEFA® in the United States, marking a significant milestone in its commercialization efforts. The company continues to advance its other drug candidates through clinical and preclinical development, with a focus on neuropathic pain, diabetes, metabolism, and other therapeutic areas.
Financial Condition: As of the latest reports, Lexicon's research and development expenses have increased, reflecting its commitment to advancing its pipeline. The company is actively engaged in investor and media relations, providing regular updates on its financial position, strategic alliances, and regulatory progress.
Partnerships and Strategic Alliances: Lexicon's unique expertise in genomics has attracted several strategic partnerships aimed at enhancing its drug discovery and development capabilities. These alliances support the company's mission to pioneer medicines that transform patients' lives.
For more detailed information about Lexicon Pharmaceuticals and its latest developments, visit their official website.
Lexicon Pharmaceuticals (LXRX) announced a virtual webcast titled 'LX9211 - Changing the Paradigm for Treatment of Neuropathic Pain' scheduled for January 28, 2025, from 9:00 a.m. to 11:00 a.m. ET. The event precedes the anticipated topline data release from the Phase 2b PROGRESS trial later this quarter.
The webcast will feature presentations from Lexicon's leadership team, including CEO Mike Exton, VP of Clinical Development Suma Gopinathan, and Chief Medical Officer Craig Granowitz. The event will also include an expert panel discussion on diabetic peripheral neuropathic pain (DPNP) with renowned specialists Dr. Rodica Pop-Busui and Dr. Steve Edelman.
LX9211 is Lexicon's novel, investigational, non-opioid treatment for DPNP. The event will be available in the 'Events' section of Lexicon's website, with a recording accessible after the live broadcast.
Lexicon Pharmaceuticals (LXRX) has appointed Scott Coiante as senior vice president and chief financial officer, effective January 2, 2025. Coiante brings over 35 years of experience in life science and pharmaceutical industries. He previously served as SVP, CFO, and treasurer at Agile Therapeutics from August 2023 to August 2024 and from 2011-2019, where he managed all financial activities including business development and fundraising.
Prior to joining Lexicon, Coiante held positions as SVP, CFO, treasurer, and secretary at Aprea Therapeutics and various senior financial roles at Medarex Inc, supporting its transition after acquisition by Bristol-Myers Squibb. The appointment aligns with Lexicon's strategic shift towards high-impact therapeutic areas and their Lead to Succeed strategy.
Lexicon Pharmaceuticals (LXRX) has received a Complete Response Letter (CRL) from the FDA regarding its New Drug Application for Zynquista™ (sotagliflozin). The drug was intended as an adjunct to insulin therapy for glycemic control in adults with type 1 diabetes and chronic kidney disease (CKD). This decision was anticipated, aligning with Lexicon's previous strategic decision to discontinue Zynquista launch preparations and focus on its clinical development pipeline. The company is now prioritizing LX9211 for diabetic neuropathic pain, with top-line data from the PROGRESS Phase 2b study expected in Q1 2025.
Lexicon Pharmaceuticals announced the completion of patient enrollment in the PROGRESS Phase 2B study evaluating LX9211 for diabetic peripheral neuropathic pain (DPNP). The study exceeded its enrollment target by 20%, successfully recruiting 494 patients, and finished eight weeks ahead of schedule. LX9211 is a novel, oral selective investigational small molecule inhibitor of adaptor-associated kinase 1 (AAK1). The strong interest in trial participation demonstrates significant demand for new non-opioid DPNP treatments. Top-line data is expected in Q1 2025.
Lexicon Pharmaceuticals (Nasdaq: LXRX) has announced its participation in two major investor conferences this December. CEO Mike Exton will present at the Piper Sandler 36th Annual Healthcare Conference on Tuesday, December 3, 2024, at 8:00 am ET, and the 7th Annual Evercore HealthCONx Conference on Thursday, December 5, 2024, at 12:30 pm ET.
Live webcasts of both presentations will be accessible through the Events section of Lexicon's website, with recordings available for two weeks after the original broadcasts.
Lexicon Pharmaceuticals (LXRX) announced a strategic restructuring to eliminate its commercial operations and focus on clinical development following FDA's deficiency letter regarding Zynquista™. The company will reduce its workforce by approximately 60% by December 31st and expects to reduce 2025 operating costs by $100 million, in addition to previously announced $40 million savings.
The company will prioritize its R&D pipeline, including the Phase 2b PROGRESS study of LX9211 for diabetic peripheral neuropathic pain, the Phase 3 SONATA HCM study of sotagliflozin, and IND-enabling studies of LX9851 for obesity. INPEFA® will continue to be available but without promotional efforts.
Lexicon Pharmaceuticals (Nasdaq: LXRX) has appointed Ivan H. Cheung to its Board of Directors. Cheung brings over 25 years of healthcare industry experience and is currently CEO of NextPoint Therapeutics and senior advisor to TPG Growth. He previously served as chairman and CEO of Eisai Inc. from 2016 to July 2023. The appointment coincides with the retirement of Robert J. Lefkowitz, M.D., who departs after 23 years of service on Lexicon's board.
Lexicon Pharmaceuticals (LXRX) announced four studies on sotagliflozin to be presented at the American Heart Association's Sessions 2024 in Chicago. A key secondary analysis of the Phase 3 SCORED trial showed sotagliflozin provided similar relative benefits across all heart failure stages, with increased absolute benefits in earlier stages. The presentations will cover the drug's cardioprotective effects, impact on systolic blood pressure in Type 2 diabetes patients, heart failure staging outcomes, and effects on myocardial contractile work.
Lexicon Pharmaceuticals reported Q3 2024 financial results with net sales of $1.7 million for INPEFA. The company announced an exclusive licensing agreement with Viatris for sotagliflozin outside U.S. and Europe, receiving a $25 million upfront payment with potential for $197 million in additional milestones. Net loss was $64.8 million ($0.18/share). R&D expenses increased to $25.8 million, while SG&A expenses rose to $39.6 million. Cash position stood at $258.4 million. The company completed enrollment screening for Phase 2b PROGRESS study of LX9211, with topline data expected in Q1 2025.
Lexicon Pharmaceuticals (Nasdaq: LXRX) has announced its participation in the Jefferies London Global Healthcare Conference. CEO Mike Exton will join a moderated discussion on Wednesday, November 20, 2024, at 9:00 am GT. The event will be accessible via live webcast in the 'Events' section of Lexicon's website, with the recording remaining available for two weeks after the original broadcast.
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