Lexicon Q1 net loss $48.4M; INPEFA sales $1.1M, up 63% QoQ

LEXICON PHARMACEUTICALS, INC.

2024-Q1 EPS reported -$0.20 revenue$1,130,000

Net loss of $48.4M ($0.20 per share) vs $31.9M ($0.17) in Q1 2023; SG&A jumped to $32.1M on launch spending.
Revenue of $1.1M from INPEFA (sotagliflozin) heart failure launch; market access ~40%, expansion expected H2 2024.
Cash and investments $355.6M as of March 31, up from $170M due to convertible preferred stock issuance in March.
NDA resubmission for ZYNQUISTA in type 1 diabetes with CKD expected mid-2024; Phase 3 for HCM to start mid-2024.
Enrollment on track for Phase 2b PROGRESS study of LX9211 in DPNP; topline data expected Q2 2025.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.95

LEXICON PHARMACEUTICALS, INC. reported three months ended March 31, 2024 results: revenue $1.1 million, net income $48.4 million, or $0.20 per share.

Period: three months ended March 31, 2024
Revenue: $1.1 million
Net income: $48.4 million, or $0.20 per share
Result: reported results

Exact text from the filing

continues to progress, with favorable feedback from healthcare providers and ongoing negotiations with payers regarding expanded market access. Net sales for the quarter were $1.1 million reflecting 63 percent growth from the previous quarter. Market access remains at approximately 40% overall and is expected to expand in the second half of 2024. ZYNQUISTA

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Source: SEC EDGAR

accession 0001062822-24-000023

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