Lexicon Pharmaceuticals Inc - LXRX STOCK NEWS

Lexicon Pharmaceuticals, Inc. (Nasdaq: LXRX) announced that CFO Jeffrey L. Wade will participate in a live fireside chat at the 20th Annual Needham Virtual Healthcare Conference on April 15, 2021, at 10:15 a.m. ET. A webcast of the event will be accessible on the company’s website, with an archived version available for two weeks afterward. Lexicon focuses on pioneering medicines through its Genome5000™ program, targeting over 100 protein targets across various diseases, including neuropathic pain and heart failure. For more details, visit www.lexpharma.com.

Lexicon Pharmaceuticals (Nasdaq: LXRX) reported Q4 and full-year 2020 financial results. Revenues for Q4 plummeted to $0.2 million from $8.7 million in Q4 2019, with full-year revenues declining to $24 million from $322.1 million. The company eliminated 95% of its debt, securing $152.3 million in cash. Lexicon initiated two Phase 2 studies for LX9211 targeting diabetic pain and received Fast Track designation from the FDA. The company plans to file an NDA for sotagliflozin for heart failure in H2 2021, leveraging positive Phase 3 data that demonstrated significant cardiovascular benefits.

Lexicon Pharmaceuticals (Nasdaq: LXRX) is set to release its fourth quarter and full-year 2020 financial results on March 10, 2021 after market close. A conference call will follow at 5:00 p.m. ET to discuss the results and provide a business update. Interested parties can join via U.S. dial-in or through an online audio webcast, which will be available for replay for 14 days. Lexicon focuses on developing innovative medicines targeting various diseases, supported by its Genome5000™ program, and has a pipeline with ongoing clinical and preclinical developments.

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.