Press release
Lexicon Pharmaceuticals Reports First Quarter 2025 Financial Results and Provides Business Updates
Company had a strong start to 2025, emerging as an R&D-focused organization Exclusive license agreement with Novo Nordisk for LX9851 executed; IND-enabling
About this update from Lexicon Pharmaceuticals, Inc.
[{"type":"text","content":"Company had a strong start to 2025, emerging as an R&D-focused organization Exclusive license agreement with Novo Nordisk for LX9851 executed; IND-enabling studies on track for completion in 2025 Phase 2b PROGRESS study confirmed 10 mg pilavapadin as appropriate dose for advancement into Phase 3 development for diabetic peripheral neuropathic pain Conference call and webcast at 5:00 pm ET THE WOODLANDS, Texas, May 13, 2025 (GLOBE NEWSWIRE) -- Lexicon Pharmaceuticals, Inc. (Nasdaq: LXRX), today reported financial results for the three months ended March 31, 2025, and provided an update on key corporate milestones and accomplishments. “We began 2025 delivering on three of our goals for this year, including most recently an exclusive licensing agreement with Novo Nordisk for LX9851 in obesity and related disorders,” said Mike Exton, Ph.D., Lexicon’s chief executive officer and director. “We also announced topline results for the PROGRESS Phase 2b study of pilavapadin in DPNP and identified the 10 mg dose to move forward into Phase 3 development. We are on track for the next steps in pilavapadin’s development, including our end of Phase 2 meeting with FDA. In addition to LX9851 and pilavapadin, in 2025 we plan to build on differentiating evidence of sotagliflozin for heart failure and drive enrollment of our Phase 3 SONATA-HCM study, which aims to demonstrate the efficacy and safety of sotagliflozin in both obstructive and non-obstructive hypertrophic cardiomyopathy (HCM).” “As our transition to an R&D focused company continues, we have seen a reduction in our total operating expenses of approximately 40 percent,” said Scott Coiante, Lexicon’s senior vice president and chief financial officer. “We will continue to ensure all operational spend in 2025 is optimized to invest in our R&D programs and achieve our strategic imperatives.” First Quarter 2025 Business and Pipeline Highlights Pilavapadin (LX9211) for Diabetic Peripheral Neuropathic Pain (DPNP) Pilavapadin is an orally delivered, small molecule drug candidate for the treatment of DPNP. Pilavapadin has the potential to become the first oral non-opioid drug therapy approved in neuropathic pain in more than 20 years.Topline data from PROGRESS met the company’s objective to identify a well-tolerated dose exhibiting meaningful pain reduction that is appropriate to advance into Phas...