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 (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.
Lexicon Pharmaceuticals (Nasdaq: LXRX) announced its agreement to exchange $62.55 million of its 5.25% Convertible Senior Notes due 2021 for $41.03 million in cash and 8.75 million shares of common stock. The transaction, expected to close by September 28, 2020, aims to reduce remaining interest expenses by approximately $3.9 million. Following these exchanges, Lexicon's outstanding debt will have decreased by about 90% since June 30, 2020, aligning with its focus on the LX9211 neuropathic pain program and other R&D initiatives.
Lexicon Pharmaceuticals (Nasdaq: LXRX) has commenced patient dosing in the RELIEF-DPN-1 study, a Phase 2 clinical trial evaluating LX9211 for diabetic peripheral neuropathic pain. LX9211 is an oral AAK1 inhibitor aimed at reducing pain without addictive effects. The study aims to enroll 300 patients across 30 U.S. sites, focusing on changes in pain scores over six weeks. Lexicon prepares for additional studies in related pain conditions, leveraging promising preclinical results and a favorable Phase 1 safety profile.
Lexicon Pharmaceuticals (Nasdaq: LXRX) announces participation in two upcoming virtual conferences: Citi's 15th Annual BioPharma Conference on September 9, 2020, and Wells Fargo's 2020 Virtual Healthcare Conference on September 10, 2020. Jeffrey L. Wade, the executive vice president and CFO, will present at the Wells Fargo conference at 2:00 p.m. ET, with the webcast available on Lexicon's website. Lexicon focuses on pioneering medicines through its Genome5000™ program, targeting significant therapeutic proteins to treat various diseases.
GTCR has finalized an agreement for its portfolio company, TerSera Therapeutics, to acquire Xermelo® (telotristat ethyl) from Lexicon Pharmaceuticals (LXRX) for approximately $159 million, with additional milestone payments possible. Xermelo is the first approved oral therapy for carcinoid syndrome diarrhea. This acquisition will enhance TerSera's oncology portfolio, which already includes products like Zoladex® and Varubi®. The deal supports GTCR's strategy, reflecting commitment to growth in therapeutic areas.
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