NASDAQ$LXRX
Lexicon Pharmaceuticals Inc · Q1 2024 earnings
Q1 2024 earnings · · Investor relations
Briefing
Reported first quarter 2024 financial results and provided a business update.
Lexicon Pharmaceuticals reported a net loss of $48.4 million, or $0.20 per share, for the first quarter of 2024. Revenues were $1.1 million, primarily from INPEFA. The company is advancing its pipeline, including a planned NDA resubmission for ZYNQUISTA and initiation of a Phase 3 study for sotagliflozin in HCM. They had $355.6 million in cash and investments as of March 31, 2024.
- INPEFA launch in heart failure continues to progress with net sales of $1.1 million, a 63% increase from the previous quarter.
- NDA resubmission for ZYNQUISTA as an adjunct to insulin in people with type 1 diabetes and CKD is expected mid-year 2024.
- Start-up ongoing for Phase 3 study of sotagliflozin in Hypertrophic Cardiomyopathy, with enrollment expected to begin mid-year 2024.
- Enrollment in Phase 2b PROGRESS study of LX9211 in Diabetic Peripheral Neuropathic Pain is on track for expected Q2 2025 topline data.
Headline financials
Revenue & EPS history
Lexicon Pharmaceuticals · Revenue · Quarterly
$1.13M
Revenue by segment
Lexicon Pharmaceuticals · $162K total across 2 segments · Q3 2023
- Net Product Revenue$148K—91.4%
- Royalties and Other$14K—8.6%
Forward guidance
Lexicon is focused on the commercial launch of INPEFA, resubmission of the NDA for ZYNQUISTA, and advancing its pipeline programs.
Tailwinds
- Expansion of market access for INPEFA expected to begin around the middle of this year.
- Planned mid-year resubmission of NDA for ZYNQUISTA.
- Commencement of Phase 3 study of sotagliflozin in hypertrophic cardiomyopathy.
- PROGRESS study of LX9211 in diabetic peripheral neuropathic pain remains on track.
- Selection of LX9851 development candidate for obesity and weight management, now entering IND-enabling studies.
Headwinds
- The company reported a net loss for the quarter.
- Increased research and development expenses compared to the corresponding period in 2023.
- Increased selling, general and administrative expenses compared to the corresponding period in 2023.
- Commercial success of INPEFA is dependent on market access, which is still expanding.
- Clinical development programs are subject to regulatory approvals and potential delays.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q1 2024
+0.4%
Avg return
Earnings day
+2.8%
Avg return
5 days after
-0.4%
Avg return
30 days after
56%
36 / 64 earnings
Positive
+30.6%
Q3 2015
Best reaction
-26.0%
Q4 2021
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | +4.4% | +50.0% | +19.4% | |
| Q4 2025 | -0.6% | +1.8% | -2.5% | |
| Q3 2025 | +3.0% | +13.0% | +1.4% | |
| Q1 2025 | +3.1% | +22.2% | +24.1% | |
| Q4 2024 | +6.6% | +2.7% | +13.5% | |
| Q3 2024 | -14.2% | -22.8% | -35.4% | |
| Q2 2024 | -24.4% | -27.1% | -23.1% | |
| Q1 2024 | +5.5% | +7.3% | +3.0% | |
| Q4 2023 | +16.1% | +19.8% | -6.9% | |
| Q3 2023 | -17.2% | -14.4% | +0.0% | |
| Q2 2023 | -1.1% | -3.7% | -10.6% | |
| Q1 2023 | +12.3% | +43.0% | +11.1% | |
| Q4 2022 | +21.8% | +17.3% | +10.5% | |
| Q3 2022 | +8.7% | +13.1% | -1.0% | |
| Q2 2022 | +13.5% | +19.4% | +16.5% | |
| Q1 2022 | -7.2% | -9.8% | -6.7% | |
| Q4 2021 | -26.0% | -25.3% | -26.3% | |
| Q3 2021 | -11.2% | -9.8% | -25.5% | |
| Q2 2021 | +2.0% | -4.7% | +28.8% | |
| Q1 2021 | -0.4% | -3.7% | -3.5% | |
| Q4 2020 | -1.4% | -2.6% | -23.8% | |
| Q3 2020 | -9.0% | -9.8% | +32.8% | |
| Q2 2020 | +11.5% | +12.6% | +0.0% | |
| Q1 2020 | +3.4% | -7.3% | -1.0% | |
| Q4 2019 | -10.6% | +3.5% | -17.2% | |
| Q3 2019 | -8.6% | -8.8% | +26.5% | |
| Q2 2019 | -21.1% | -19.9% | -20.5% | |
| Q1 2019 | +4.7% | +20.9% | -7.2% | |
| Q4 2018 | +2.2% | +6.3% | -15.3% | |
| Q3 2018 | +8.4% | +8.8% | +3.4% | |
| Q2 2018 | -3.0% | -11.8% | -6.2% | |
| Q1 2018 | +8.4% | +17.3% | +52.2% | |
| Q4 2017 | +1.3% | +4.5% | -1.3% | |
| Q3 2017 | -6.3% | +0.8% | +8.4% | |
| Q2 2017 | -4.4% | -3.7% | -7.1% | |
| Q1 2017 | +2.4% | +2.2% | -9.5% | |
| Q4 2016 | +9.0% | +11.0% | -4.8% | |
| Q3 2016 | -4.2% | -3.0% | -1.3% | |
| Q2 2016 | +1.6% | +0.6% | -11.8% | |
| Q1 2016 | -15.6% | — | — | |
| Q4 2015 | +24.4% | — | — | |
| Q3 2015 | +30.6% | — | — | |
| Q2 2015 | -8.6% | — | — | |
| Q1 2015 | -5.7% | — | — | |
| Q4 2014 | +14.3% | — | — | |
| Q3 2014 | +2.1% | — | — | |
| Q2 2014 | -6.6% | — | — | |
| Q1 2014 | +1.4% | — | — | |
| Q4 2013 | +3.8% | — | — | |
| Q3 2013 | -2.6% | — | — | |
| Q2 2013 | +7.8% | — | — | |
| Q1 2013 | +2.5% | — | — | |
| Q4 2012 | +1.9% | — | — | |
| Q3 2012 | -9.6% | — | — | |
| Q2 2012 | +3.7% | — | — | |
| Q1 2012 | +1.3% | — | — | |
| Q4 2011 | +5.6% | — | — | |
| Q3 2011 | -9.9% | — | — | |
| Q2 2011 | -7.1% | — | — | |
| Q1 2011 | +1.9% | — | — | |
| Q4 2010 | +6.3% | — | — | |
| Q3 2010 | -3.7% | — | — | |
| Q2 2010 | -0.7% | — | — | |
| Q1 2010 | +8.0% | — | — |
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