Lexicon Pharmaceuticals, Inc. · NASDAQ:LXRX
Lexicon Pharmaceuticals — Q2 2025 Earnings Presentation
23 slides from Lexicon Pharmaceuticals's earnings presentation, Aug 6, 2025
Slide 1: Second Quarter 2025 Earnings Presentation
Second Quarter 2025 Earnings Presentation August 6, 2025 1
Slide 2: Forward-Looking Statements
Forward-Looking Statements • This presentation, including any oral presentation accompanying it, contains “forward-looking statements,” including statements about Lexicon’s strategy and operating performance and events or developments that we expect or anticipate will occur in the future, such as pr
Slide 3: Business Overview
Business Overview Mike Exton, Ph.D. Director and Chief Executive Officer 3
Slide 4: Strong execution against strategic pivot to R&D focused company
Company Overview Strong execution against strategic pivot to R&D focused company Pilavapadin full On track to Accelerated site Excellent progress Phase 2 results to complete IND- initiations in with Viatris to be presented enabling Phase 3 SONATA- make sotagliflozin September 2025; studies of HCM st
Slide 5: Pipeline Overview
Pipeline Overview Craig Granowitz, M.D., Ph.D. Senior Vice President and Chief Medical Officer 5
Slide 6: Pilavapadin has consistently delivered clinically meaningful pain reduction
Pilavapadin Pilavapadin 10 mg has consistently delivered clinically meaningful pain reduction RELIEF Phase 2a ADPS Reduction PROGRESS Phase 2b ADPS Reduction Pilavapadin Pilavapadin Pilavapadin 100/10 mg* PLACEBO 10 mg 20/10 mg** PLACEBO 0.0 0.0 -0.5 LS Mean Change from Baseline at week 8 -0.5 LS Me
Slide 7: Advisory board supported key findings in PROGRESS topline data
Pilavapadin Advisory board supported key findings in PROGRESS topline data Secondary data analysis of comprehensive Phase 2 program ongoing Pilavapadin demonstrated clinically 10 mg identified as the appropriate dose for meaningful efficacy registrational studies Pilavapadin demonstrated acceptable
Slide 8: Pilavapadin: Validated MOA, compelling profile, and broad applicability
Pilavapadin Pilavapadin: Validated MOA, compelling profile, and broad applicability A portfolio in a pill with multiple near-term catalysts Clinically A full portfolio IND-enabling Extensive safety Long patent meaningful pain with a Phase 3- work complete in and tolerability life through 2040 reduct
Slide 9: HCM: A significant and underpenetrated market with high disease burden
Sotagliflozin HCM HCM: A significant and underpenetrated market with high disease burden ~1.1 million people Diagnosed in the U.S. have either obstructive or 70% with oHCM non-obstructive HCM* Common signs include altered Diagnosed cardiac energetics, fibrosis, and 30% with nHCM diastolic dysfunctio
Slide 10: Broad potential for sotagliflozin within HCM treatment landscape
Sotagliflozin HCM Broad potential for sotagliflozin within HCM treatment landscape Only HCM agent that works inside and outside the heart to reduce symptoms of HCM as well as to reduce HF and MACE events Also acts directly on the myocardium Once-daily oral dosing enables broad potential adoption wit
Slide 11: Significant data support sotagliflozin as only SGLT inhibitor to work inside and outside the heart
Sotagliflozin HCM Significant data support sotagliflozin as only SGLT inhibitor to work inside and outside the heart for HCM Animal models in HCM* Ex vivo in HCM Lexicon and IIS clinical and HFpEF* myocardial slices* studies • Improved diastolic function • Reduced stroke work • SONATA-HCM • Reduced
Slide 12: SONATA-HCM Phase 3 study for oHCM and nHCM
Sotagliflozin HCM SONATA-HCM Phase 3 study for oHCM and nHCM Global Phase 3 SONATA-HCM Trial Enrollment accelerating – on track for all sites active by Sotagliflozin 400 mg (N = 250) end of Q3 2025 R 1:1 Sites opened in U.S., EU, Placebo (N = 250) Israel, and LATAM Up to 21 days 26-week double-blind
Slide 13: Investigator-initiated studies complement registrational study in HCM
Sotagliflozin HCM Investigator-initiated studies complement registrational study and may support sotagliflozin use in HCM SOTA-P-CARDIA SOTA-CROSS SONATA-HCM • Readout late 2025/early • Readout mid-to-late 2026 • Evaluate sotagliflozin in 2026 • Evaluate sotagliflozin patients with • Investigate car
Slide 14: IND-enabling studies under strategic license with Novo Nordisk for LX9851 remain on track
LX9851 IND-enabling studies under strategic license with Novo Nordisk for LX9851 remain on track LX9851 First-in-class, potent, selective, orally bioavailable, investigational small molecule ACSL5 inhibitor Positioned to benefit from Novo Nordisk size, scale and capabilities – IND-enabling studies o
Slide 15: Financial Overview
Financial Overview Scott Coiante Chief Financial Officer 15
Slide 16: Q2 2025 Financial Summary
Financials Q2 2025 Financial Summary $ (in millions except per share amounts) Q2 2025 Q2 2024 As of June 30, As of December Revenue: 2025* 31, 2024 Net product revenues $1.3 $1.6 Licensing revenue $27.5 --- Cash, cash equivalents, short-term investments $168.0 $238.0 Total revenues $28.9 $1.6 and re
Slide 17: Q2 2025 Financial Highlights
Financials Q2 2025 Financial Highlights Q2 2025 Key Full Year 2025 Financial Highlights Operating Expenses* • The $45 million upfront payment (received in April) • Total 2025 operating expenses now expected to be under licensing agreement with Novo Nordisk was between $105 - $115 million (previously
Slide 18: Summary
Summary Mike Exton, PhD Director and Chief Executive Officer 18
Slide 19: Partnership strategy intended to enable focus on core cardiometabolic expertise
Partnering Partnership strategy intended to enable focus on core cardiometabolic expertise Geographic expansion through Viatris’ Maximizing asset value with Novo’s Unlock value globally and across multiple global capabilities leadership position in obesity indications Approved Pre-Clinical Phase 3 P
Slide 20: Well-positioned with a portfolio of potential pipelines in a pill
Conclusion Well-positioned with a portfolio of potential “pipelines in a pill” Exploring opportunities across multiple therapeutic areas 2025 2026 2027 2028 2029 Pilavapadin* Ph3 Planning / Execution Regulatory Approval Diabetic Peripheral Neuropathic Pain (DPNP) Ph3 Planning / Execution Regulatory
Slide 21: Well positioned for continued progress across all programs throughout 2025
Conclusion Well positioned for continued progress across all programs throughout 2025 • Full PROGRESS data anticipated in Q3 • Diabetic Peripheral Neuropathic Pilavapadin • End of Phase 2 meeting before year-end Pain (DPNP) • Ongoing partnership discussions • US, EU, Israel and LATAM sites enrolling
Slide 22: Q&A
Q&A Mike Exton, Ph.D. Craig Granowitz, M.D., Ph.D. Scott Coiante Director and Chief Senior Vice President and Chief Senior Vice President Executive Officer Medical Officer and Chief Financial Officer 22
Slide 23: Thank You
Thank You pharmaceuticals
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