LEXICON PHARMACEUTICALS, INC.

Listed Company

LXRXCIK 0001062822NasdaqNon-AcceleratedSmaller ReportingPharmaceutical PreparationsDelawareFY ends Dec 31

Period

FY 2025

Revenue

$49.80M

Net Income

$-50.34M

Total Assets

$184.99M

Equity

$107.54M

Shares Out

423.68M

Op. Cash Flow

$-67.85M

Business

LEXICON PHARMACEUTICALS, INC. is a biopharmaceutical company developing and commercializing orally‑delivered small molecule medicines for cardiometabolic and neurological conditions. Its main products and drug candidates include the approved INPEFA® (sotagliflozin) for heart failure and development-stage candidates pilavapadin (LX9211) for neuropathic pain, LX9851 for obesity, and additional sotagliflozin indications. The company operates research and development, regulatory and commercial functions and pursues collaborations and licensing arrangements, while relying on third‑party contract manufacturers for production. It principally commercializes INPEFA in the United States through wholesalers, pharmacies, hospitals and other healthcare distributors and seeks regulatory approvals and partners for other territories.

Summary from filing dated 2025-03-07

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Royalties and other revenue	156,000	80,000	94,000	139,000	298,000
Total revenues	50	31	1	139,000	298,000
Cost of sales	274,000	616,000	85,000	0	0
Research and development	61	84	59	53	55
Selling, General and Administrative Expense	37	143	114	48	32
Total operating expenses	99	228	173	101	87
Loss from operations	−49	−197	−172	−101	−87
Interest and other expense	−8	−16	−13	−3	−802,000
Interest income and other	7	12	8	2	134,000
Net loss	−50	−200	−177	−102	−88
Net loss per common share, basic (usd per share)	−0.14	−0.63	−0.8	−0.62	−0.6
Net loss per common share, diluted (usd per share)	−0.14	−0.63	−0.8	−0.62	−0.6
Shares used in computing net loss per common share, basic	363	320	221	166	146
Shares used in computing net loss per common share, diluted	363	320	221	166	146
Unrealized (loss) gain on investments	−89,000	88,000	459,000	−418,000	−4,000
Comprehensive loss	−50	−200	−177	−102	−88

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Cash and cash equivalents	34	67	22	46	64
Short-term investments	62	171	148	92	23
Accounts receivable, net	2	3	1	28,000	14,000
Inventory	281,000	231,000	381,000	0	—
Prepaid expenses and other current assets	3	5	5	2	2
Total current assets	102	246	177	141	89
Property and equipment, net	2	2	2	2	1
Goodwill	45	45	45	45	45
Operating lease right-of-use-assets	7	5	6	6	—
Restricted cash	29	0	—	—	—
Other assets	368,000	368,000	828,000	412,000	2
Total assets	185	298	229	194	137
Accounts payable	3	15	14	10	9
Accrued liabilities	13	30	17	13	13
Current portion of long-term debt	5	0	—	—	0
Total current liabilities	21	45	32	23	22
Long-term debt, net	49	100	100	49	0
Other long-term liabilities	7	7	5	5	1
Total liabilities	77	152	136	77	23
Commitments and contingencies (Note 10)	—	—	—	—	—
Preferred stock, $0.01 par value; 5,000,000 shares authorized; 2,304,147 Series A Convertible Preferred shares issued and none outstanding	0	0	0	0	0
Common stock, $0.001 par value; 450,000,000 shares authorized; 365,848,216 and 363,020,303 shares issued, respectively	366,000	363,000	245,000	189,000	150,000
Additional paid-in capital	2,130	2,117	1,863	1,709	1,609
Accumulated deficit	−2,018	−1,967	−1,767	−1,590	−1,488
Accumulated other comprehensive income	30,000	119,000	31,000	−428,000	−10,000
Treasury stock, at cost, 2,381,939 and 1,528,008 shares, respectively	−5	−5	−3	−2	−8
Total stockholders' equity	108	146	93	117	114
Total liabilities and stockholders equity	185	298	229	194	137
Preferred stock, shares outstanding	0	0	0	0	0
Common Stock, Shares, Outstanding	366	363	—	—	—

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Depreciation and amortization	621,000	534,000	554,000	427,000	292,000
Stock-based compensation	13	13	14	12	11
Amortization of debt-related costs	2	2	2	741,000	54,000
Accretion of marketable securities purchased at a discount	−4	−9	−6	0	—
Other non-cash adjustments	−2	812,000	2	0	—
Decrease (increase) in accounts receivable	1	−2	−982,000	−14,000	381,000
(Increase) decrease in inventories	−50,000	150,000	−381,000	0	0
Decrease (increase) in prepaid expenses and other current assets	2	598,000	−3	−316,000	3
Decrease in other long-term assets	757,000	1	467,000	656,000	661,000
(Decrease) increase in accounts payable and other liabilities	−30	15	6	76,000	−14
Net cash used in operating activities	−68	−179	−162	−89	−87
Purchases of property and equipment	0	−1	−470,000	−1	−1
Purchases of investments	−140	−329	−223	−134	−34
Maturities of investments	253	314	174	64	38
Net cash provided by (used in) investing activities	113	−15	−50	−71	2
Proceeds from issuance of common stock, net of fees	0	0	139	94	37
Proceeds from issuance of common stock for equity incentive plans	73,000	64,000	0	0	—
Proceeds from issuance of preferred stock, net of fees	0	241	0	0	—
Payments for tax withholding on share-based compensation vesting	−572,000	−2	−824,000	—	—
Debt payments	−48	0	0	—	—
Proceeds from debt borrowings, net of fees	0	0	50	49	—
Other debt financing fees	0	−1	0	0	—
Net cash (used in) provided by financing activities	−48	238	188	142	23
Net (decrease) increase in cash, cash equivalents, and restricted cash	−3	44	−24	−18	−62
Cash paid for interest	8	13	10	2	799,000
Right-of-use assets obtained in exchange for operating lease obligations	3	0	0	5	2
Accrual of deferred financing costs	0	0	250,000	0	0
Conversion of preferred stock to common stock	0	115,000	0	0	—

Filings

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