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 it received FDA feedback confirming that the results from its SOLOIST and SCORED Phase 3 studies support a New Drug Application (NDA) for sotagliflozin. This application targets adult patients with type 2 diabetes at risk for heart failure. The studies demonstrated significant cardiovascular benefits, with both achieving primary endpoints. The regulatory feedback represents a critical step for partnership discussions and potential NDA submission within 2021, furthering Lexicon's strategic objectives in heart failure management.
Lexicon Pharmaceuticals, Inc. (Nasdaq: LXRX) announced that Lonnel Coats, the company’s CEO, will present at the 39th Annual J.P. Morgan Healthcare Conference on January 14, 2021, at 2:50 p.m. ET. A webcast will be available on Lexicon’s website in the 'Events' section and will remain archived for two weeks. Lexicon is focused on pioneering medicines through its Genome5000™ program, targeting over 100 protein targets for therapeutic potential in various diseases. The company has a pipeline in neuropathic pain, heart failure, diabetes, and metabolism.
Lexicon Pharmaceuticals (Nasdaq: LXRX) has commenced patient dosing in the RELIEF-PHN 1 clinical study, evaluating LX9211 for post-herpetic neuralgia. This Phase 2, randomized, placebo-controlled trial will enroll approximately 74 patients across 30 sites, focusing on changes in Average Daily Pain Score over six weeks. LX9211, a selective AAK1 inhibitor, aims to provide a new treatment option as current therapies are limited. The company anticipates the completion of this trial along with another study for diabetic peripheral neuropathic pain by the end of next year.
Lexicon Pharmaceuticals (Nasdaq: LXRX) announced a collaboration with AC Bioscience LTD to utilize preclinical and clinical data for LX2931, a non-active S1P lyase inhibitor. Lexicon will receive an upfront payment and could earn up to $5.3 million in milestone payments. This move aligns with Lexicon's focus on accelerating the development of their LX9211 program while assessing their compound library. The company continues to explore innovative medicines targeting various diseases through its Genome5000™ program.
Lexicon Pharmaceuticals (Nasdaq: LXRX) announced a registered direct offering to institutional investors for the purchase of 20,312,500 shares of its common stock at $3.20 per share, raising approximately $65 million before fees. The transaction is expected to close on December 16, 2020, subject to customary closing conditions. Investors include Artal International S.C.A. and BVF Partners L.P. Citigroup Global Markets Inc. is acting as the placement agent. The offering is underpinned by a shelf registration statement initially filed in November 2019.
Lexicon Pharmaceuticals (Nasdaq: LXRX) has received Fast Track designation from the FDA for its drug LX9211, aimed at treating diabetic peripheral neuropathic pain. This designation underscores the significant unmet medical need in this area. The company is currently enrolling patients in a Phase 2 trial for LX9211, which is also preparing for a second Phase 2 trial in post-herpetic neuralgia. The Fast Track program is designed to expedite development and review processes for drugs addressing serious conditions, allowing for early interactions with the FDA and potential accelerated approval.
Lexicon Pharmaceuticals (Nasdaq: LXRX) announced successful outcomes in the SOLOIST and SCORED Phase 3 studies for sotagliflozin, showcasing statistically significant reductions in total cardiovascular deaths, heart failure hospitalizations, and urgent visits compared to placebo. In the SOLOIST study, the hazard ratio was 0.67 (p<0.001), while for SCORED, it was 0.74 (p<0.001). The outcomes were presented at the AHA Scientific Sessions 2020 and published in The New England Journal of Medicine. These findings support sotagliflozin's role as standard care in heart failure.
Lexicon Pharmaceuticals (Nasdaq: LXRX) announced its participation in the Stifel 2020 Virtual Healthcare Conference on November 18, 2020. During the event, Lonnel Coats, president and CEO, alongside Jeffrey L. Wade, EVP and CFO, will engage in a live fireside chat at 2:40 p.m. ET. A webcast will be accessible on Lexicon's website, with an archived version available for two weeks post-event. Lexicon focuses on pioneering treatments and has a pipeline of drug candidates targeting various diseases, thanks to its Genome5000™ program.
Lexicon Pharmaceuticals (Nasdaq: LXRX) reported financial results for Q3 2020, showing revenues dropped to $6.6 million, down from $294.4 million in Q3 2019, due to the loss of collaborative revenues from Sanofi. Despite this, net income stood at $82.6 million, or $0.71 per diluted share. The company is focusing on the advancement of its drug candidate LX9211 for neuropathic pain, with two Phase 2 studies underway. Significant debt reduction of >90% was achieved, including the termination of a $150 million loan.
Lexicon Pharmaceuticals (Nasdaq: LXRX) is set to release its Q3 2020 financial results on October 29, 2020, before market opening. The management will host a conference call at 8:00 a.m. ET to discuss these results and provide an update on clinical developments. Lexicon is known for pioneering medicines and has an active pipeline focused on diabetes, neuropathic pain, and more. The company emphasizes the significance of its Genome5000™ program in discovering various therapeutic targets.
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