LEXICON PHARMACEUTICALS, INC. LXRX

Healthcare SIC 2834 - Pharmaceutical Preparations NAICS Manufacturing › Chemical Manufacturing › Pharmaceutical and Medicine Manufacturing › Pharmaceutical Preparation Manufacturing derived Nasdaq

We are a biopharmaceutical company with a mission of pioneering medicines that transform patients' lives. We are devoting most of our resources to the research and development of our most advanced drug candidates and the commercialization of our approved drug, INPEFA® (sotagliflozin):

•We are developing sotagliflozin, an orally-delivered small molecule drug candidate, as a treatment for hypertrophic cardiomyopathy, or HCM, and are conducting the SONATA-HCM pivotal Phase 3 clinical trial of sotagliflozin in that indication.

•We are separately pursuing regulatory approval of ZYNQUISTA® (sotagliflozin) as a treatment for type 1 diabetes. The U.S. Food and Drug Administration, or FDA, issued complete response letters regarding our New Drug Application, or NDA, for ZYNQUISTA in type 1 diabetes in March 2019 and December 2024. At our request, the FDA has issued a public Notice of Opportunity for Hearing, or NOOH, on whether there are grounds for denying approval of our NDA and those proceedings are ongoing.

Last close 1.42 2026-10-23
Market cap $631.8M 2026-06-30 share count
52-week range 1.10 - 2.68

Valuation FY2025 figures against the last close

P/S12.7x
P/E—
P/FCF—
EV/EBITDA—
Dividend yield—
Diluted EPS-0.14

Where the revenue comes from as reported in the latest 10-K

Revenue by segment

  • License
  • Product
Revenue by segment, 2 categories over 2 years. The same figures are in the table below. FY2025 License, FY2025: 45M (90.6%) 91% License Product, FY2025: 4.6M (9.4%) 9% Product FY2024 License, FY2024: 25M (80.6%) 81% Product, FY2024: 6M (19.4%) 19%
Segment FY2025FY2024
License $45.0M $25.0M
Product $4.6M $6.0M

As the company reported it, from the “Segment Information - Schedule of Segment Reporting Information (Details)” note of its latest 10-K. Every figure here has been checked against the total revenue the same filing reported. Segments are the filer's own reporting structure, which is a decision about how it runs itself rather than a standard taxonomy: two companies in the same industry routinely divide themselves along different lines, so these are worth reading down a single company rather than across two. Slices under 1% are folded into “Other”.

Annual financial statements

Income statement

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Revenue $49.8M$31.1M$1.2M$0$0$23.4M$32.3M$26.6M$15.9M$0
Cost of revenue $274.0K$616.0K$85.0K$0$0$1.9M$3.2M$2.5M$1.9M$0
Gross profit $49.5M$30.5M$1.1M$0$0$21.5M$29.1M$24.1M$14.0M$0
R&D $61.1M$84.5M$58.9M$52.8M$55.0M$153.6M$91.9M$100.2M$152.2M$164.0M
SG&A $37.3M$143.1M$114.0M$48.1M$32.3M$47.2M$56.8M$63.8M$66.1M$43.2M
Total operating expenses $98.7M$228.2M$173.0M$100.9M$87.4M$204.4M$180.6M$166.5M$222.3M$206.4M
Operating income -$48.9M-$197.1M-$171.8M-$100.8M-$87.1M-$47.8M$141.4M-$103.3M-$130.6M-$127.2M
Interest expense ———$2.8M$802.0K$14.5M$20.7M$20.8M$7.0M$6.6M
Pre-tax income —-$200.4M-$177.1M-$101.9M-$87.8M-$58.6M$124.1M-$120.5M-$135.7M-$131.4M
Income tax —$0$0$0$0————$0
Net income -$50.3M-$200.4M-$177.1M-$101.9M-$87.8M-$58.6M$130.1M-$120.5M-$123.0M-$131.4M
EPS, basic -0.14-0.63-0.80-0.62-0.60-0.531.23-1.14-1.17—
EPS, diluted -0.14-0.63-0.80-0.62-0.60-0.531.16-1.14-1.17-1.27
Shares, diluted (wtd. avg.) 363.1M320.0M221.1M165.7M145.7M110.8M116.7M105.8M105.2M—

Balance sheet

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Cash and equivalents $34.3M$66.7M$22.5M$46.3M$64.1M$126.3M$36.1M$80.4M$61.7M$46.6M
Short-term investments $61.9M$171.3M$147.6M$92.0M$22.7M$26.0M$235.5M$79.7M$249.1M$299.9M
Receivables $2.4M$3.5M$1.0M$28.0K$14.0K$395.0K$56.5M$5.9M$4.8M$7.5M
Inventory $281.0K$231.0K$381.0K$0—$0$4.2M$4.7M$1.9M$0
Total current assets $101.9M$246.2M$176.5M$140.9M$88.9M$157.7M$337.8M$173.3M$322.0M$357.9M
Property, plant and equipment $1.9M$2.5M$2.0M$2.1M$1.2M$295.0K$14.0M$15.9M$17.7M$19.4M
Goodwill $44.5M$44.5M$44.5M$44.5M$44.5M$44.5M$44.5M$44.5M$44.5M$44.5M
Other intangibles ——————$19.7M$21.5M$23.2M—
Total assets $185.0M$298.4M$229.4M$194.3M$136.9M$203.8M$417.7M$284.1M$436.5M$475.6M
Accounts payable $3.1M$14.8M$14.4M$10.4M$9.2M$5.5M$12.2M$12.1M$38.8M$52.9M
Short-term debt $4.6M$0——$0$11.6M$11.0M$1.1M$14.1M$16.3M
Total current liabilities $20.9M$45.2M$31.5M$23.2M$22.1M$46.8M$65.3M$36.8M$105.5M$164.6M
Long-term debt $49.4M$100.3M$99.5M$48.6M$0$0$234.2M$243.9M$231.6M$85.2M
Total liabilities $77.4M$152.5M$136.3M$77.2M$23.3M$47.4M$300.6M$310.5M$368.3M$318.2M
Retained earnings -$2.02B-$1.97B-$1.77B-$1.59B-$1.49B-$1.40B-$1.34B-$1.47B-$1.37B-$1.25B
Total equity $107.5M$145.9M$93.1M$117.1M$113.6M$156.4M$117.1M-$26.4M$68.3M$167.5M

Cash flow

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Operating cash flow -$67.9M-$178.8M-$161.9M-$88.9M-$87.0M-$143.0M$113.8M-$148.6M-$185.4M-$175.6M
Depreciation and amortisation $621.0K$534.0K$554.0K$427.0K$292.0K$2.9M$3.7M$3.7M$3.4M$2.1M
Stock-based compensation $12.5M$13.5M$14.3M$11.5M$10.6M$13.3M$14.2M$11.7M$9.5M$7.5M
Capital expenditure $0$1.0M$470.0K$1.3M$1.2M$87.0K$70.0K$95.0K$228.0K$231.0K
Investing cash flow $113.0M-$15.4M-$49.9M-$71.1M$2.1M$380.8M-$155.9M$169.6M$50.5M$18.3M
Financing cash flow -$48.5M$238.3M$188.0M$142.2M$22.7M-$147.6M-$2.2M-$2.2M$149.9M$987.0K
Buybacks —$1.7M$824.0K$864.0K$2.7M$1.0M$941.0K$972.0K$1.7M$621.0K

Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001062822-26-000050.

Plot the figures US dollars

Income statement Revenue Cost of revenue Gross profit R&D SG&A Total operating expenses Operating income Interest expense Pre-tax income Income tax Net income EPS, basic EPS, diluted Shares, diluted (wtd. avg.)
Balance sheet Cash and equivalents Short-term investments Receivables Inventory Total current assets Property, plant and equipment Goodwill Other intangibles Total assets Accounts payable Short-term debt Total current liabilities Long-term debt Total liabilities Retained earnings Total equity
Cash flow Operating cash flow Depreciation and amortisation Stock-based compensation Capital expenditure Investing cash flow Financing cash flow Dividends paid Buybacks
  • Revenue
  • Gross profit
  • Net income
Revenue, Gross profit, Net income by fiscal year, in US dollars The same figures are in the table below this chart. -300M -200M -100M 0 100M 200M Revenue, FY2016: 0 Gross profit, FY2016: 0 Net income, FY2016: -131.4M Revenue, FY2017: 15.9M Gross profit, FY2017: 14M Net income, FY2017: -123M Revenue, FY2018: 26.6M Gross profit, FY2018: 24.1M Net income, FY2018: -120.5M Revenue, FY2019: 32.3M Gross profit, FY2019: 29.1M Net income, FY2019: 130.1M Revenue, FY2020: 23.4M Gross profit, FY2020: 21.5M Net income, FY2020: -58.6M Revenue, FY2021: 0 Gross profit, FY2021: 0 Net income, FY2021: -87.8M Revenue, FY2022: 0 Gross profit, FY2022: 0 Net income, FY2022: -101.9M Revenue, FY2023: 1.2M Gross profit, FY2023: 1.1M Net income, FY2023: -177.1M Revenue, FY2024: 31.1M Gross profit, FY2024: 30.5M Net income, FY2024: -200.4M Revenue, FY2025: 49.8M Gross profit, FY2025: 49.5M Net income, FY2025: -50.3M FY2016 FY2017 FY2018 FY2019 FY2020 FY2021 FY2022 FY2023 FY2024 FY2025
Fiscal year FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue $0 $15.9M $26.6M $32.3M $23.4M $0 $0 $1.2M $31.1M $49.8M
Gross profit $0 $14.0M $24.1M $29.1M $21.5M $0 $0 $1.1M $30.5M $49.5M
Net income -$131.4M -$123.0M -$120.5M $130.1M -$58.6M -$87.8M -$101.9M -$177.1M -$200.4M -$50.3M

Recent filings and events

  • Results announced The quarterly or annual earnings release. Arrives four times a year from almost every company here. Item 2.02
  • Results announced Item 2.02
  • Material agreement signed The company entered an agreement outside the ordinary course of business - a large contract, a credit facility, a merger agreement. Item 1.01
  • New debt or obligation The company has taken on debt or a comparable obligation. Item 2.03
  • Unregistered share sale Shares issued outside a registered offering. Dilution, and for a small company often the way it is funded. Item 3.02
  • Regulation FD disclosure Something the company told the market and had to tell everyone at once - usually a slide deck or a press release. Item 7.01
  • Material agreement signed Item 1.01
  • Unregistered share sale Item 3.02
  • Charter or fiscal year changed A change to the company's governing documents, or to when its year ends. Item 5.03
  • Shareholder vote The results of the annual meeting or a special vote. Item 5.07
  • Annual report filed A new 10-K. The figures and the business description on this site come from it. Form 10-K
  • Results announced Item 2.02

Item numbers are Form 8-K's own, and a filing date is up to four business days after the thing it reports. The same feed across the whole market.

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