Lexicon Pharmaceuticals, Inc. · NASDAQ:LXRX
Lexicon Pharmaceuticals — Q1 2026 Earnings Presentation
29 slides from Lexicon Pharmaceuticals's earnings presentation, May 7, 2026
Slide 1: First Quarter 2026 Earnings
First Quarter 2026 Earnings May 7, 2026
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 Highlights
Business Highlights Mike Exton Ph.D. Director and Chief Executive Officer 3
Slide 4: Continued Progress on our Objectives for 2026
Company Overview Continued Progress on our Objectives for 2026 Advance our late-stage Expand internationally and Remain operationally sotagliflozin programs through collaborators disciplined and focused • SONATA-HCM • Support of existing Viatris to support long-term • ZYNQUISTA® for T1D and Novo lic
Slide 5: Year-to-Date 2026 Highlights
Company Overview Year-to-Date 2026 Highlights Advancing our pipeline of novel targeted therapies in cardiometabolic and pain Cardiometabolic Chronic Pain Company Overview S O TA G L I F L O Z I N LX9851 P I L AVA PA D I N HCM T1D Obesity Neuropathic Pain Enrollment on track Preparing for NDA Phase 1
Slide 6: Pipeline Updates
Pipeline Updates Craig Granowitz, M.D. Ph.D. Senior Vice President and Chief Medical Officer 6
Slide 7: Cardiometabolic
Cardiometabolic S O TA G L I F L O Z I N Late-stage development programs in HCM and type 1 diabetes 7
Slide 8: Sotagliflozin Inhibits Two Targets With Important Cardiometabolic Profiles
Sotagliflozin Sotagliflozin Inhibits Two Targets With Important Cardiometabolic Profiles SGLT1 inhibitors work SGLT2 inhibitors work mainly in the gut and heart1 mainly in the kidneys2 Glucose Glucose SGLT SGLT Membrane Membrane to slow sugar absorption from food to remove extra sugar from the body,
Slide 9: Upcoming Milestones for Late-Stage Sotagliflozin Programs
Sotagliflozin Upcoming Milestones for Late-Stage Sotagliflozin Programs HCM Type 1 Diabetes • SONATA-HCM Phase 3 study, evaluating • On track for mid-2026 resubmission of approximately 500 patients with symptomatic the NDA for ZYNQUISTA as an adjunct to HCM insulin for glycemic control in adults wit
Slide 10: SONATA-HCM Phase 3 study for oHCM and nHCM
Sotagliflozin SONATA-HCM Phase 3 study for oHCM and nHCM Primary endpoint: Sotagliflozin 400 mg* (N = 250) Change from baseline in KCCQ CSS R 1:1 Placebo (N = 250) Up to 14 days 26-week double-blind treatment period 4-week Screening Follow-up Key Eligibility Criteria • Adults with HCM (oHCM or nHCM)
Slide 11: Sotagliflozin is both a hemodynamic and metabolic agent in HCM
Sotagliflozin in HCM Sotagliflozin is both a hemodynamic and metabolic agent in HCM The only HCM agent that works inside and outside the heart to reduce symptoms of HCM, as well as reduce HF and Potential to be a MACE events first line Novel MOA, with SGLT1 inhibition acting directly on the therapy
Slide 12: Continuing to generate data demonstrating mechanistic benefits of SGLT1 and SGLT2 inhibition
Sotagliflozin in HCM Continuing to generate data demonstrating mechanistic benefits of SGLT1 and SGLT2 inhibition Oral Presentation Moderated Poster Effect of Kidney Function on Efficacy Sotagliflozin Improves Symptoms and Functional Capacity in Non and Safety of Sotagliflozin After 1 Year Diabetic
Slide 13: SOTA-P-CARDIA provides evidence of benefits
Sotagliflozin in HCM SOTA-P-CARDIA provides evidence of benefits related to sotagliflozin's dual inhibition of SGLT 1 and 2 Significant improvements to health-related quality of life and physical limitations and reductions in epicardial fat Changes in 6-MWT 70.0% 61.8% 60.0% 50.0% 38.2% 40.0% 33.3%
Slide 14: Preparing for ZYNQUISTA NDA resubmission in T1D with new clinical data
Sotagliflozin in T1D Preparing for ZYNQUISTA NDA resubmission in T1D with new clinical data FDA confirmed IIS study (STENO1) adequate to support resubmission of NDA On track for NDA resubmission mid-year; expect a 6-month review, with potential approval in 2026 High unmet need remains for adjunctive
Slide 15: Phase 1 trial of LX9851 initiated by Novo Nordisk
Partnering Phase 1 trial of LX9851 initiated by Novo Nordisk • First-in-class, non-incretin, oral, small molecule inhibitor of ACSL5 in development for obesity and associated metabolic disorder Phase 1 program expected to be • Phase 1 study of LX9851 initiated in March completed in • Two $10 million
Slide 16: Chronic Pain
Chronic Pain P I L AVA PA D I N novel, non-opioid neuropathic pain investigational therapy 16
Slide 17: AAK1 is a novel target for neuropathic pain
Pilavapadin AAK1 is a novel target for neuropathic pain Novel, non-opioid target for treating neuropathic pain Inhibits reuptake and recycling of neurotransmitters involved in pain signaling and spasticity Validated using a genetic knock- out model, preclinical studies, and human clinical trials 17
Slide 18: Clinical data reiterates conviction for pilavapadin 10 mg dose
Pilavapadin Clinical data reiterates conviction for pilavapadin 10 mg dose for DPNP and supports broad potential of novel AAK1 target DPNP Spasticity • Additional PROGRESS Phase 2b results • Evaluation of pilavapadin on spasticity-related supporting selection of pilavapadin 10 mg for endpoints in pr
Slide 19: Financial Overview
Financial Overview Scott Coiante Chief Financial Officer 19
Slide 20: Q1 2026 Financial Summary
Financials Q1 2026 Financial Summary $ (in millions except per share amounts) As of Q1 2026 Q1 2025 As of March December 31, 31, 2026 2025 Total revenues $21.1 $1.3 Cash, cash equivalents, short- $199.7* $125.2 R&D ($12.8) ($15.3) term investments and restricted cash SG&A ($9.2) ($11.6) Total operat
Slide 21: Q1 2026 Financial Highlights and FY 2026 Guidance
Financials Q1 2026 Financial Highlights and FY 2026 Guidance Q1 2026 Key Full Year 2026 Guidance Financial Highlights Operating Expenses* • Recognized $21.1 million in total • Total 2026 operating expenses expected to be revenue between $100 - $110 million • Reflects two $10 million milestone • R&D
Slide 22: Lexicon enters into $100 million loan facility with Hercules Capital
Lexicon enters into $100 million loan facility with Hercules Capital Strengthens balance sheet and expands access to non-dilutive capital • $55 million funded at close to repay existing loan facility with Oxford Finance • Floating interest rate equal to the prime rate plus 3.1%, with a floor not les
Slide 23: Summary
Summary Mike Exton Ph.D. Director and Chief Executive Officer 23
Slide 24: 2026 is a pivotal year for Lexicon
Conclusion 2026 is a pivotal year for Lexicon Cardiometabolic Chronic Pain S O TA G L I F L O Z I N LX9851 P I L AVA PA D I N HCM Heart Failure T1D Obesity Neuropathic Pain SONATA Viatris ex-U.S. / On track for Phase 1 study Ongoing evaluation of enrollment ex-Europe efforts NDA ongoing strategic op
Slide 25: Q&A
Q&A Mike Exton, Ph.D. Craig Granowitz, M.D., Ph.D. Scott Coiante Director and Chief Senior Vice President Senior Vice President Executive Officer and Chief Medical Officer and Chief Financial Officer
Slide 26: Thank You
THANK YOU pharmaceuticals
Slide 27: Appendix
Appendix pharmaceuticals
Slide 28: Hyperlinked Reference List – Sotagliflozin MOA and HCM
Hyperlinked Reference List – Sotagliflozin MOA and HCM • Sotagliflozin MOA • Sotagliflozin, a First-in-Class SGLT1/2 Inhibitor, Inhibits Clotting Potential in the Vessel via Inhibition of Platelet Activation, Integrin Activation, and Aggregation in Human Platelets • Sotagliflozin, a Dual SGLT 1 and
Slide 29: Effects of SGLT1 Inhibition Demonstrated in Animal Models
Effects of SGLT1 Inhibition Demonstrated in Animal Models Disease Disease Model Knockout/Knockdown Model or Target Organ/System SGLT Inhibitor Heart Kidney Metabolic Akita/+ mouse1 Sglt1-/- ↓ GFR ↓ Blood glucose ↓ Albuminuria ↑ Body weight Type 1 diabetes STZ mouse2 shSGLT1 (siRNA) ↓ LVEDV/LVESV ↑ E
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