Lexicon Pharmaceuticals, Inc. · NASDAQ:LXRX
Lexicon Pharmaceuticals — Q3 2025 Earnings Presentation
22 slides from Lexicon Pharmaceuticals's earnings presentation, Nov 6, 2025
Slide 1: Q3 Earnings Update
Q3 Earnings UPDATE November 6, 2025
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: Progress pilavapadin to be ready for Phase 3 registrational trials
Company Overview By the end of 2025 we aimed to: Progress pilavapadin to be ready for Phase 3 registrational trials Submit an IND for LX9851 in obesity Accelerate enrollment in SONATA Phase 3 study for HCM Fully evaluate potential path forward for Zynquista Partner appropriate assets 4
Slide 5: 2025 on track to fully deliver on our ambition
Company Overview 2025 on track to fully deliver on our ambition Pilavapadin Sotagliflozin LX9851 T1D HCM WW license with PROGRESS + Phase 2 STENO-1 data All sites analyses Novo Nordisk submitted to FDA initiated EOP2 Meeting scheduled IND-studies Type D process Accelerating completed underway enroll
Slide 6: Partnership strategy poised for continued value creation for Lexicon
Partnering Partnership strategy poised for continued value creation for Lexicon Geographic expansion through Viatris’ Global development of LX9851 global capabilities on track • Sotagliflozin recently approved in UAE for • IND-enabling studies fully completed and delivered to recent and worsening he
Slide 7: Evaluating potential resubmission for Zynquista
Zynquista Evaluating potential resubmission for Zynquista Lexicon has submitted new data and is committed to working with the FDA on a potential resubmission High unmet need remains for adjunctive glycemic control in 1M adults with T1D, with no currently approved oral therapies Overwhelming support
Slide 8: Environment supportive of non-opioid innovation in chronic pain
Pilavapadin Environment supportive of non-opioid innovation in chronic pain Chronic Pain Roundtable | Oct 7, 2025 Catalysts in chronic pain management • Representatives across clinical, patient Legislation introduced to expand advocacy, and other experts actively access to non-opioid treatments for
Slide 9: Pipeline Updates
Pipeline Updates Craig Granowitz, M.D. Ph.D. Senior Vice President and Chief Medical Officer 9
Slide 10: Pilavapadin: A portfolio in a pill with multiple near-term catalysts
Pilavapadin Pilavapadin: Validated MOA, compelling profile, broad potential 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 reduction read
Slide 11: Conclusions from pooled analyses of Phase 2 studies in DPNP
Pilavapadin Conclusions from pooled analyses of Phase 2 studies in DPNP Analyses support advancement of 10 mg into Phase 3 development based on: 1 Validated biological activity, as evidenced by a linear relationship between increased plasma levels of pilavapadin and pain reduction. 2 Clinically mean
Slide 12: What's next for pilavapadin?
Pilavapadin What’s next for pilavapadin? Request for end of meeting scheduled in 2025 Phase 2 meeting with written feedback accepted by FDA anticipated early 2026 Optimized to reduce variability, including Phase 3 placebo effect; validated by scientific protocol advisory board Partnership flexible a
Slide 13: Sotagliflozin, the emergence of a new class of SGLT
Sotagliflozin Sotagliflozin, the emergence of a new class of SGLT Mechanism of action, clinical, regulatory Studies underway continuing to generate evidence to complement positive outcome studies in HCM, HF and MACE SONATA-HCM Phase 3 trial enrolling globally in both obstructive and non- obstructive
Slide 14: Upcoming presentations at AHA 2025 support sotagliflozin potential
Sotagliflozin in HCM Upcoming presentations at AHA 2025 support sotagliflozin potential in diverse patient population, including patients with HCM Presentations Oral presentation Late-breaker oral presentation Poster presentation Dual SGLT1 and 2 Inhibition with SOTA-P-CARDIA Trial: a Effects on maj
Slide 15: Enrollment accelerating in SONATA-HCM Phase 3 study for oHCM and nHCM
Sotagliflozin in HCM Enrollment accelerating in SONATA-HCM Phase 3 study for oHCM and nHCM SONATA-HCM Study Schema Patient • Adults with HCM myosin inhibitor Target all 130+ sites initiated with Population • LVEF ≥50% or ≥55% for • KCCQ23 CSS <85 achieved enrollment accelerating those on cardiac • N
Slide 16: Financial Overview
Financial Overview Scott Coiante Chief Financial Officer 16
Slide 17: Q3 2025 Financial Summary
Financials Q3 2025 Financial Summary $ (in millions except per share amounts) Q3 2025 Q3 2024 Revenue: As of As of September 30, December 31, Net product 2025 2024 $1.0 $1.7 revenues Cash, cash Licensing revenue $13.2 --- equivalents, short- $145.0 $238.0 Total revenues $14.2 $1.8 term investments a
Slide 18: Q3 and Full Year 2025 Financial Highlights
Financials Q3 and Full Year 2025 Financial Highlights Q3 2025 Key Full Year 2025 Financial Highlights Operating Expenses* • Recognized $13.2 million of licensing revenue • Total 2025 operating expenses expected to be in Q3 under our agreement with Novo between $105 - $115 million Nordisk • R&D expec
Slide 19: Summary
Summary Mike Exton Ph.D. Director and Chief Executive Officer 19
Slide 20: Strong execution results in significant catalysts into 2026
Conclusions Strong execution results in significant catalysts into 2026 Pilavapadin Sotagliflozin LX9851 DPNP HCM Heart Failure Type 1 Obesity Diabetes EOP2 meeting by IIS data Regulatory FDA feedback IND-enabling end of 2025 beginning late submissions and on potential studies completed 2025 approva
Slide 21: 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 22: Thank You
THANK YOU pharmaceuticals
Lexicon Pharmaceuticals — Q3 2025 Earnings Presentation on 6ix