Lexicon Pharmaceuticals Announces Departure of President and Chief Operating Officer
Lexicon Pharmaceuticals (Nasdaq: LXRX) announced that Jeff Wade, president and chief operating officer, will step down on September 30, 2024, to pursue new opportunities. Wade has served in various leadership roles at Lexicon for 25 years. The company is currently searching for a new chief financial officer. Lexicon's chairman and CEO expressed gratitude for Wade's contributions, highlighting his role in the potential approval of sotagliflozin for type 1 diabetes and CKD, and the development of LX9211 for diabetic peripheral neuropathic pain. The company remains confident in its current leadership team and future prospects, with several near-term and long-term catalysts expected to drive value.
Lexicon Pharmaceuticals (Nasdaq: LXRX) ha annunciato che Jeff Wade, presidente e direttore operativo, lascerà l'incarico il 30 settembre 2024 per perseguire nuove opportunità. Wade ha ricoperto diversi ruoli di leadership in Lexicon per 25 anni. L'azienda sta attualmente cercando un nuovo direttore finanziario. Il presidente e CEO di Lexicon hanno espresso gratitudine per i contributi di Wade, evidenziando il suo ruolo nella potenziale approvazione di sotagliflozin per il diabete di tipo 1 e la CKD, e nello sviluppo di LX9211 per il dolore neuropatico periferico diabetico. L'azienda rimane fiduciosa nel suo attuale team di leadership e nelle prospettive future, con diversi catalizzatori a breve e lungo termine attesi per generare valore.
Lexicon Pharmaceuticals (Nasdaq: LXRX) anunció que Jeff Wade, presidente y director de operaciones, dejará su cargo el 30 de septiembre de 2024 para buscar nuevas oportunidades. Wade ha ocupado diversos roles de liderazgo en Lexicon durante 25 años. La compañía está actualmente en busca de un nuevo director financiero. El presidente y CEO de Lexicon expresaron su agradecimiento por las contribuciones de Wade, destacando su papel en la posible aprobación de sotagliflozina para la diabetes tipo 1 y la CKD, y en el desarrollo de LX9211 para el dolor neuropático periférico diabético. La empresa se mantiene confiada en su actual equipo de liderazgo y en las perspectivas futuras, con varios catalizadores a corto y largo plazo esperados para impulsar el valor.
렉시콘 제약 (Nasdaq: LXRX)은 제프 웨이드 사장 겸 COO가 2024년 9월 30일에 물러나 새로운 기회를 추구할 것이라고 발표했습니다. 웨이드는 렉시콘에서 25년 동안 다양한 리더십 역할을 수행해 왔습니다. 회사는 현재 새로운 최고 재무 책임자를 찾고 있습니다. 렉시콘의 회장과 CEO는 웨이드의 기여에 감사를 표하며, sotagliflozin의 제1형 당뇨병 및 CKD에 대한 잠재적 승인과 LX9211의 당뇨병성 말초 신경병증 통증 개발에서의 그의 역할을 강조했습니다. 회사는 현재의 리더십 팀과 미래 전망에 대해 자신감을 가지고 있으며, 단기 및 장기 촉매제가 가치를 창출할 것으로 기대하고 있습니다.
Lexicon Pharmaceuticals (Nasdaq: LXRX) a annoncé que Jeff Wade, président et directeur de l'exploitation, quittera son poste le 30 septembre 2024 pour explorer de nouvelles opportunités. Wade a occupé divers postes de direction chez Lexicon pendant 25 ans. L'entreprise est actuellement à la recherche d'un nouveau directeur financier. Le président et CEO de Lexicon ont exprimé leur gratitude envers les contributions de Wade, mettant en lumière son rôle dans l'approbation potentielle de sotagliflozin pour le diabète de type 1 et la CKD, ainsi que dans le développement de LX9211 pour la douleur neuropathique périphérique diabétique. L'entreprise reste confiante dans son équipe de direction actuelle et ses perspectives d'avenir, avec plusieurs catalyseurs à court et long terme attendus pour générer de la valeur.
Lexicon Pharmaceuticals (Nasdaq: LXRX) gab bekannt, dass Jeff Wade, Präsident und Chief Operating Officer, am 30. September 2024 zurücktreten wird, um neue Möglichkeiten zu verfolgen. Wade hat 25 Jahre lang verschiedene Führungspositionen bei Lexicon innegehabt. Das Unternehmen sucht derzeit nach einem neuen Chief Financial Officer. Der Vorsitzende und CEO von Lexicon dankten Wade für seine Beiträge und hoben seine Rolle bei der potenziellen Genehmigung von sotagliflozin für Typ-1-Diabetes und CKD sowie bei der Entwicklung von LX9211 für diabetische periphere Neuropathieschmerzen hervor. Das Unternehmen bleibt zuversichtlich in Bezug auf sein aktuelles Führungsteam und die zukünftigen Perspektiven, da mehrere kurzfristige und langfristige Katalysatoren erwartet werden, die den Wert steigern sollen.
- Potential near-term approval of sotagliflozin for glycemic control in adults with type 1 diabetes and CKD
- Development progress of LX9211 for diabetic peripheral neuropathic pain
- Multiple near-term and long-term catalysts expected to drive value
- Departure of long-standing president and chief operating officer
- Ongoing search for a new chief financial officer
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 president and chief operating officer.
“I am grateful to have had the opportunity, during my tenure at Lexicon, to help build an exceptional company with great science and a very talented team. We have brought two medicines to market from discovery in our own labs and developed a pipeline of important new innovations. While I am moving on to other opportunities, I am very much looking forward to Lexicon’s future success,” said Mr. Wade.
“Jeff has been an integral part of Lexicon for more than two decades, with many important contributions. Most notably, Jeff was instrumental in putting Lexicon on the near-term path for potential approval of sotagliflozin for glycemic control in adults with type 1 diabetes and CKD and contributed significantly to furthering the development of LX9211 for diabetic peripheral neuropathic pain. We wish him all the best in his future endeavors,” said Ray Debbane, chairman of Lexicon’s board of directors.
“I would like to thank Jeff for his commitment and dedication to Lexicon over the past 25 years. As Lexicon enters its next chapter, I’m confident in our current strong and talented leadership team to execute on the innovative portfolio that has been built, and to carry the company forward successfully. Lexicon has a bright future ahead with many near-term and long-term catalysts with the potential to drive value for patients, employees and our shareholders,” said Dr. Mike Exton, chief executive officer and director of Lexicon.
About Lexicon Pharmaceuticals
Lexicon is a biopharmaceutical company with a mission of pioneering medicines that transform patients’ lives. Through its Genome5000™ program, Lexicon scientists studied the role and function of nearly 5,000 genes and identified more than 100 protein targets with significant therapeutic potential in a range of diseases. Through the precise targeting of these proteins, Lexicon is pioneering the discovery and development of innovative medicines to safely and effectively treat disease. Lexicon is commercially launching one of these medicines, INPEFA® (sotagliflozin) in the United States, and has a pipeline of other promising drug candidates in discovery and clinical and preclinical development in neuropathic pain, diabetes and metabolism and other indications. For additional information, please visit www.lexpharma.com.
Safe Harbor Statement
This press release contains “forward-looking statements,” including statements relating to Lexicon’s financial position and long-term outlook on its business, growth and future operating results, discovery and development of products, strategic alliances and intellectual property, as well as other matters that are not historical facts or information. All forward-looking statements are based on management’s current assumptions and expectations and involve risks, uncertainties and other important factors, specifically including Lexicon’s ability to meet its capital requirements, successfully commercialize INPEFA in heart failure on the timeline and/or at the prices currently contemplated or at all, conduct preclinical and clinical development and obtain necessary regulatory approvals of sotagliflozin (in other indications), LX9211, LX9851 and its other drug candidates on its anticipated timelines, achieve its operational objectives, obtain patent protection for its discoveries and establish strategic alliances, as well as additional factors relating to manufacturing, intellectual property rights, and the therapeutic or commercial value of its drug candidates. Any of these risks, uncertainties and other factors may cause Lexicon’s actual results to be materially different from any future results expressed or implied by such forward-looking statements. Information identifying such important factors is contained under “Risk Factors” in Lexicon’s annual report on Form 10-K for the year ended December 31, 2023 and other subsequent disclosure documents filed with the Securities and Exchange Commission. Lexicon undertakes no obligation to update or revise any such forward-looking statements, whether as a result of new information, future events or otherwise.
For Media and Investor Inquiries:
Lisa DeFrancesco
Lexicon Pharmaceuticals, Inc.
lexinvest@lexpharma.com
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