Lexicon Q1 net loss narrows to $25.3M; Novo Nordisk license for LX9851, pipeline progress

LEXICON PHARMACEUTICALS, INC.

2025-Q1 EPS reported -$0.07 revenue$1,262,000

Net loss of $25.3M ($0.07/sh) vs $48.4M ($0.20/sh) in Q1 2024; revenue $1.3M.
Cash and investments $194.8M at Mar 31, 2025, down from $238.0M at Dec 31, 2024; includes $7.5M severance.
Exclusive license to Novo Nordisk for LX9851; up to $1B milestones, $75M upfront/near-term payments plus royalties.
Phase 2b PROGRESS study of pilavapadin (DPNP) met objective; 10 mg dose identified for Phase 3.
Operating expenses down ~40% YoY as company transitions to R&D-focused.

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