Lexicon Pharmaceuticals, Inc.
lexpharma.comWhat Do They Do?
Develops medicines for heart conditions, diabetes, neuropathic pain and obesity, and sells INPEFA for heart failure to wholesalers and pharmacies.
10-K for FY2025, filed Mar 5, 2026We are developing sotagliflozin, an orally-delivered small molecule drug candidate, as a treatment for hypertrophic cardiomyopathy, or HCM…View ↗
We are developing pilavapadin, an orally-delivered small molecule drug candidate, as a treatment for neuropathic pain. We have completed…View ↗
We commercially launched INPEFA, a once-daily oral tablet, following regulatory approval in the United States in May 2023 to reduce the…View ↗
We continue to manufacture and make INPEFA available to patients and prescribers. We maintain a small virtual contract sales force for…View ↗
We have developed LX9851, an orally-delivered small molecule drug candidate, for the treatment of obesity and associated cardiometabolic…View ↗
How Do They Make Money?
License partners pay upfront, at development, regulatory and sales milestones, and through royalties on sales; wholesalers buy INPEFA, with product sales counted upon delivery.
8-K, filed Aug 6, 2026 10-K for FY2025, filed Mar 5, 2026In March 2026, Novo Nordisk initiated a Phase 1 study investigating single and multiple ascending doses of LX9851 compared to placebo in…View ↗
Product revenues consist of U.S. sales of INPEFA, which Lexicon began shipping to its customers in the U.S. in June 2023. These customers…View ↗
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10-K for FY2025, filed Mar 5, 2026
FY2025 revenue by product or service (Net product revenue) ↗
$49.8M
-
10-K for FY2025, filed Mar 5, 2026
$49.8M ↗
| Segment | Share | Revenue | How money arrives |
|---|---|---|---|
|
Product
Sold outright
|
9.4% |
Product, FY2025
$4.6M Sources
|
Sold outright |
|
License
Licensed
|
91% |
License, FY2025
$45M Sources
|
Licensed |
Who Are Their Customers?
Wholesalers buy INPEFA for resale to pharmacies, hospitals, government agencies and other institutions; Lexicon also uses a mail-order pharmacy. Pharmaceutical companies license drug candidates.
10-K for FY2025, filed Mar 5, 2026We continue to manufacture and make INPEFA available to patients and prescribers. We maintain a small virtual contract sales force for…View ↗
We have developed LX9851, an orally-delivered small molecule drug candidate, for the treatment of obesity and associated cardiometabolic…View ↗
We have derived substantially all of our revenues from strategic collaborations and other research and development collaborations and…View ↗
Do Revenues Turn Into Profits?
No. It lost $50.3M in FY2025.
10-K for FY2025, filed Mar 5, 2026
−$48.9MView ↗
10-K for FY2025, filed Mar 5, 2026
−$50.3MView ↗
10-K for FY2025, filed Mar 5, 2026
−$67.9MView ↗
How Are They Changing?
- Net income
-
Sources
10-Q for Q2 FY2026, filed Aug 6, 2026
−$31.8MView ↗
- ▼ Now a loss
- vs $3.3M in Q2 FY2025
10-Q for Q2 FY2026, filed Aug 6, 2026
Open tableView ↗
Growing. Revenue grew 167.1x in 4 years, from $298K in FY2021 to $49.8M in FY2025, about 260% a year.
Who Do They Compete With?
Competes with Bristol Myers Squibb, Cytokinetics, AstraZeneca, Boehringer Ingelheim, Eli Lilly, Pfizer, Vertex, Novartis, and Merck
10-K for FY2025, filed Mar 5, 2026We expect that our principal competition for sotagliflozin in the treatment of hypertrophic cardiomyopathy would include generic beta…View ↗
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