2020 Q4 Form 10-K Financial Statement

#000106282221000013 Filed on March 12, 2021

View on sec.gov

Income Statement

Concept 2020 Q4 2019 Q4 2018
Revenue $200.0K $8.727M $63.21M
YoY Change -97.71% -48.88% -31.06%
Cost Of Revenue $0.00 $800.0K $2.491M
YoY Change -100.0% 33.33% 31.17%
Gross Profit $200.0K $8.000M $60.72M
YoY Change -97.5% -52.38% -32.38%
Gross Profit Margin 100.0% 91.67% 96.06%
Selling, General & Admin $6.400M $14.60M $63.80M
YoY Change -56.16% -12.05% -3.48%
% of Gross Profit 3200.0% 182.5% 105.08%
Research & Development $1.000M $40.60M $100.2M
YoY Change -97.54% 235.54% -34.15%
% of Gross Profit 500.0% 507.5% 165.1%
Depreciation & Amortization $300.0K $1.000M $3.683M
YoY Change -70.0% 11.11% 8.36%
% of Gross Profit 150.0% 12.5% 6.07%
Operating Expenses $7.400M $55.10M $166.5M
YoY Change -86.57% 92.66% -25.11%
Operating Profit -$7.200M -$47.22M -$103.3M
YoY Change -84.75% 281.8% -20.93%
Interest Expense -$200.0K -$5.200M $20.78M
YoY Change -96.15% 0.0% 197.49%
% of Operating Profit
Other Income/Expense, Net $900.0K $1.300M $3.508M
YoY Change -30.77% 62.5% 79.53%
Pretax Income -$5.500M -$51.10M -$120.5M
YoY Change -89.24% 213.5% -11.14%
Income Tax $0.00 $0.00 $0.00
% Of Pretax Income
Net Earnings -$5.500M -$51.14M -$120.5M
YoY Change -89.24% 204.72% -1.99%
Net Earnings / Revenue -2750.0% -585.97% -190.71%
Basic Earnings Per Share -$0.48 -$1.14
Diluted Earnings Per Share -$44.93K -$0.48 -$1.14
COMMON SHARES
Basic Shares Outstanding 117.5M shares 106.3M shares
Diluted Shares Outstanding 106.3M shares 105.8M shares

Balance Sheet

Concept 2020 Q4 2019 Q4 2018
SHORT-TERM ASSETS
Cash & Short-Term Investments $152.3M $271.7M $160.1M
YoY Change -43.95% 69.71% -48.49%
Cash & Equivalents $126.3M $36.11M $80.40M
Short-Term Investments $26.00M $235.5M $79.70M
Other Short-Term Assets $5.049M $5.320M $2.700M
YoY Change -5.09% 99.4% -38.64%
Inventory $0.00 $4.243M $4.700M
Prepaid Expenses
Receivables $395.0K $56.53M $5.900M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $157.7M $337.8M $173.3M
YoY Change -53.3% 94.87% -46.18%
LONG-TERM ASSETS
Property, Plant & Equipment $295.0K $14.05M $15.90M
YoY Change -97.9% -11.46% -10.17%
Goodwill $44.54M $44.54M
YoY Change 0.0% 0.0%
Intangibles $19.70M
YoY Change -60.69%
Long-Term Investments
YoY Change
Other Assets $1.231M $1.655M $300.0K
YoY Change -25.62% 480.7% -25.0%
Total Long-Term Assets $46.07M $79.96M $110.8M
YoY Change -42.39% -27.84% -3.23%
TOTAL ASSETS
Total Short-Term Assets $157.7M $337.8M $173.3M
Total Long-Term Assets $46.07M $79.96M $110.8M
Total Assets $203.8M $417.7M $284.1M
YoY Change -51.21% 47.01% -34.91%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $5.469M $12.18M $17.80M
YoY Change -55.09% 1.05% -54.12%
Accrued Expenses $29.69M $42.15M $14.50M
YoY Change -29.56% 98.4% 17.89%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $11.65M $11.01M $1.100M
YoY Change 5.76% 887.62% -92.2%
Total Short-Term Liabilities $46.81M $65.34M $36.80M
YoY Change -28.37% 77.79% -65.12%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $234.2M $243.9M
YoY Change -100.0% -3.98% 5.31%
Other Long-Term Liabilities $611.0K $1.102M $23.90M
YoY Change -44.56% 363.03% -5.16%
Total Long-Term Liabilities $611.0K $235.3M $267.8M
YoY Change -99.74% -3.63% 4.28%
TOTAL LIABILITIES
Total Short-Term Liabilities $46.81M $65.34M $36.80M
Total Long-Term Liabilities $611.0K $235.3M $267.8M
Total Liabilities $47.42M $300.6M $310.5M
YoY Change -84.23% -3.2% -15.69%
SHAREHOLDERS EQUITY
Retained Earnings -$1.400B -$1.341B
YoY Change 4.37% -8.84%
Common Stock $142.0K $106.0K
YoY Change 33.96% 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost) $4.843M $3.817M
YoY Change 26.88% 32.72%
Treasury Stock Shares 793.0K shares 407.0K shares
Shareholders Equity $156.4M $117.1M -$26.40M
YoY Change
Total Liabilities & Shareholders Equity $203.8M $417.7M $284.1M
YoY Change -51.21% 47.01% -34.91%

Cashflow Statement

Concept 2020 Q4 2019 Q4 2018
OPERATING ACTIVITIES
Net Income -$5.500M -$51.14M -$120.5M
YoY Change -89.24% 204.72% -1.99%
Depreciation, Depletion And Amortization $300.0K $1.000M $3.683M
YoY Change -70.0% 11.11% 8.36%
Cash From Operating Activities -$34.30M -$24.40M -$148.6M
YoY Change 40.57% -9.96% -19.84%
INVESTING ACTIVITIES
Capital Expenditures -$100.0K $0.00 $95.00K
YoY Change -58.33%
Acquisitions
YoY Change
Other Investing Activities $44.10M -$109.4M $169.7M
YoY Change -140.31% -286.05% 234.06%
Cash From Investing Activities $44.10M -$109.4M $169.6M
YoY Change -140.31% -286.05% 235.65%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $240.0K
YoY Change -103.8%
Debt Paid & Issued, Net $14.53M
YoY Change 537.41%
Cash From Financing Activities 64.20M -300.0K -$2.244M
YoY Change -21500.0% 200.0% -101.5%
NET CHANGE
Cash From Operating Activities -34.30M -24.40M -$148.6M
Cash From Investing Activities 44.10M -109.4M $169.6M
Cash From Financing Activities 64.20M -300.0K -$2.244M
Net Change In Cash 74.00M -134.1M $18.73M
YoY Change -155.18% -524.37% 24.33%
FREE CASH FLOW
Cash From Operating Activities -$34.30M -$24.40M -$148.6M
Capital Expenditures -$100.0K $0.00 $95.00K
Free Cash Flow -$34.20M -$24.40M -$148.7M
YoY Change 40.16% -9.96% -19.89%

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14218000 USD
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96000 USD
CY2019Q4 us-gaap Stockholders Equity
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13274000 USD
CY2020 us-gaap Stock Issued During Period Value New Issues
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CY2020 us-gaap Sale Of Stock Consideration Received Per Transaction
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15714000 USD
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1026000 USD
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CY2020Q4 us-gaap Stockholders Equity
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156371000 USD
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2934000 USD
CY2019 us-gaap Depreciation Depletion And Amortization
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3654000 USD
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3683000 USD
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13274000 USD
CY2019 us-gaap Share Based Compensation
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CY2018 us-gaap Share Based Compensation
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1013000 USD
CY2019 us-gaap Amortization Of Financing Costs And Discounts
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1465000 USD
CY2018 us-gaap Amortization Of Financing Costs And Discounts
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1336000 USD
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CY2019 us-gaap Deferred Income Tax Expense Benefit
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CY2018 us-gaap Deferred Income Tax Expense Benefit
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0 USD
CY2020 lxrx Gain On Sale Of Non Financial Assets
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132585000 USD
CY2019 lxrx Gain On Sale Of Non Financial Assets
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0 USD
CY2018 lxrx Gain On Sale Of Non Financial Assets
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0 USD
CY2020 us-gaap Impairment Of Real Estate
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1600000 USD
CY2019 us-gaap Impairment Of Real Estate
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0 USD
CY2018 us-gaap Impairment Of Real Estate
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0 USD
CY2020 us-gaap Asset Impairment Charges
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0 USD
CY2019 us-gaap Asset Impairment Charges
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28638000 USD
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0 USD
CY2020 us-gaap Gains Losses On Extinguishment Of Debt
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1003000 USD
CY2019 us-gaap Gains Losses On Extinguishment Of Debt
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0 USD
CY2018 us-gaap Gains Losses On Extinguishment Of Debt
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0 USD
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707000 USD
CY2019 us-gaap Gain Loss On Disposition Of Assets
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0 USD
CY2018 us-gaap Gain Loss On Disposition Of Assets
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CY2020 us-gaap Increase Decrease In Accounts Receivable
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CY2019 us-gaap Increase Decrease In Accounts Receivable
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50608000 USD
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1099000 USD
CY2020 us-gaap Increase Decrease In Inventories
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CY2019 us-gaap Increase Decrease In Inventories
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CY2018 us-gaap Increase Decrease In Inventories
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2732000 USD
CY2018 us-gaap Increase Decrease In Inventories
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2732000 USD
CY2020 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
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1948000 USD
CY2019 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
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2652000 USD
CY2018 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
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CY2019 us-gaap Increase Decrease In Other Operating Assets
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0 USD
CY2018 us-gaap Proceeds From Sale Of Buildings
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0 USD
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119987000 USD
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CY2019 us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
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20097000 USD
CY2018 us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
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0 USD
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CY2018 us-gaap Increase Decrease In Deferred Revenue
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CY2019 us-gaap Net Cash Provided By Used In Operating Activities
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113807000 USD
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CY2020 us-gaap Payments To Acquire Property Plant And Equipment
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87000 USD
CY2019 us-gaap Payments To Acquire Property Plant And Equipment
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70000 USD
CY2018 us-gaap Payments To Acquire Property Plant And Equipment
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95000 USD
CY2020 us-gaap Proceeds From Sale Of Productive Assets
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160385000 USD
CY2019 us-gaap Proceeds From Sale Of Productive Assets
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0 USD
CY2018 us-gaap Proceeds From Sale Of Productive Assets
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0 USD
CY2020 us-gaap Payments To Acquire Investments
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58555000 USD
CY2019 us-gaap Payments To Acquire Investments
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322385000 USD
CY2020 us-gaap Proceeds From Sale Of Property Plant And Equipment
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CY2020 us-gaap Proceeds From Sale Maturity And Collections Of Investments
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268000000 USD
CY2019 us-gaap Proceeds From Sale Maturity And Collections Of Investments
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166600000 USD
CY2018 us-gaap Proceeds From Sale Maturity And Collections Of Investments
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289658000 USD
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380756000 USD
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169576000 USD
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69970000 USD
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0 USD
CY2018 us-gaap Proceeds From Issuance Of Common Stock
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732000 USD
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1026000 USD
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941000 USD
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972000 USD
CY2020 us-gaap Proceeds From Issuance Of Long Term Debt
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0 USD
CY2019 us-gaap Proceeds From Issuance Of Long Term Debt
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0 USD
CY2018 us-gaap Proceeds From Issuance Of Long Term Debt
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1285000 USD
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3437000 USD
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14533000 USD
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CY2019 us-gaap Net Cash Provided By Used In Financing Activities
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CY2018 us-gaap Net Cash Provided By Used In Financing Activities
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90151000 USD
CY2019 us-gaap Cash And Cash Equivalents Period Increase Decrease
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18725000 USD
CY2019Q4 us-gaap Cash And Cash Equivalents At Carrying Value
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36112000 USD
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80386000 USD
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CY2020Q4 us-gaap Cash And Cash Equivalents At Carrying Value
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126263000 USD
CY2019Q4 us-gaap Cash And Cash Equivalents At Carrying Value
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36112000 USD
CY2018Q4 us-gaap Cash And Cash Equivalents At Carrying Value
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80386000 USD
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CY2019 us-gaap Interest Paid Net
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19211000 USD
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16465000 USD
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<span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Use of Estimates:</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> The preparation of financial statements in conformity with U. S. generally accepted accounting principles (“GAAP”) requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the period. Actual results could differ from those estimates.</span>
CY2019Q4 us-gaap Inventory Raw Materials
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3200000 USD
CY2019Q4 us-gaap Inventory Work In Process
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200000 USD
CY2019Q4 us-gaap Inventory Finished Goods
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900000 USD
CY2020 lxrx Disclosure On Geographic Areas Revenue From External Customers Attributed To Entitys Country Of Domicile Percent
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0.98
CY2019 lxrx Disclosure On Geographic Areas Revenue From External Customers Attributed To Germany
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0.89
CY2019 lxrx Disclosure On Geographic Areas Revenue From External Customers Attributed To Entitys Country Of Domicile Percent
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0.10
CY2018 lxrx Disclosure On Geographic Areas Revenue From External Customers Attributed To Germany
DisclosureOnGeographicAreasRevenueFromExternalCustomersAttributedToGermany
0.53
CY2018 lxrx Disclosure On Geographic Areas Revenue From External Customers Attributed To Entitys Country Of Domicile Percent
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0.40
CY2020 us-gaap Number Of Operating Segments
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1 segment
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0.65
CY2020 lxrx Lxrx Diplomatcustomerconcentration
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0.89
CY2018 lxrx Entity Wide Revenue Sanofi Percentage
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0.53
CY2018 lxrx Lxrx Biologicscustomerconcentration
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0.25
CY2018 lxrx Lxrx Diplomatcustomerconcentration
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0.14
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19700000 USD
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18500000 USD
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21962000 USD
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29033000 USD
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6200000 USD
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CY2019Q4 us-gaap Operating Lease Liability Current
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553000 USD
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976000 USD
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2921000 USD
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29691000 USD
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42151000 USD
CY2020 us-gaap Impairment Of Intangible Assets Indefinitelived Excluding Goodwill
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1600000 USD
CY2019 us-gaap Impairment Of Intangible Assets Excluding Goodwill
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0 USD
CY2018 us-gaap Impairment Of Intangible Assets Excluding Goodwill
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0 USD
CY2019 us-gaap Goodwill And Intangible Asset Impairment
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28600000 USD
CY2018 us-gaap Goodwill Impairment Loss
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0 USD
CY2019 us-gaap Goodwill Impairment Loss
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0 USD
CY2020 us-gaap Goodwill Impairment Loss
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CY2020Q4 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized
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15700000 USD
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P1Y1M6D
CY2020Q4 us-gaap Deferred Tax Assets Gross
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5000 USD
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11000 USD
CY2020Q4 us-gaap Available For Sale Securities Current
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26012000 USD
CY2020 us-gaap Realized Investment Gains Losses
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36112000 USD
CY2020Q4 lxrx Final Consideration Including Amounts Released To Settle
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160000000.0 USD
CY2020 lxrx Gain On Sale Of Non Financial Assets
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132600000 USD
CY2020 lxrx Ter Sera Maximum Development Regulatory And Commercial Milestones
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65000000.0 USD
CY2020 us-gaap Discontinued Operation Income Loss From Discontinued Operation Before Income Tax
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CY2019 us-gaap Discontinued Operation Income Loss From Discontinued Operation Before Income Tax
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CY2018 us-gaap Discontinued Operation Income Loss From Discontinued Operation Before Income Tax
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CY2020 us-gaap Severance Costs1
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5500000 USD
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26018000 USD
CY2019Q4 us-gaap Available For Sale Securities
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235547000 USD
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271659000 USD
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6110000 USD
CY2019Q4 us-gaap Property Plant And Equipment Gross
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75788000 USD
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5815000 USD
CY2019Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
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61741000 USD
CY2020Q4 us-gaap Property Plant And Equipment Net
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295000 USD
CY2019Q4 us-gaap Property Plant And Equipment Net
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14047000 USD
CY2020 us-gaap Proceeds From Sale Of Buildings
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11900000 USD
CY2020Q4 us-gaap Land
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2700000 USD
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7900000 USD
CY2020Q4 us-gaap Deferred Tax Assets Operating Loss Carryforwards
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201610000 USD
CY2019Q4 us-gaap Deferred Tax Assets Operating Loss Carryforwards
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193270000 USD
CY2020Q4 us-gaap Deferred Tax Assets Tax Credit Carryforwards Research
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29304000 USD
CY2019Q4 us-gaap Deferred Tax Assets Tax Credit Carryforwards Research
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46306000 USD
CY2020 us-gaap Income Tax Reconciliation Nondeductible Expense Research And Development
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0 USD
CY2020Q4 lxrx Deferred Tax Assets Tax Credit Carryforwards Orphan Drug
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24524000 USD
CY2019Q4 lxrx Deferred Tax Assets Tax Credit Carryforwards Orphan Drug
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24524000 USD
CY2020Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Compensation And Benefits Share Based Compensation Cost
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5651000 USD
CY2020Q4 us-gaap Deferred Tax Assets In Process Research And Development
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47075000 USD
CY2019Q4 us-gaap Deferred Tax Assets In Process Research And Development
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58596000 USD
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5340000 USD
CY2020Q4 us-gaap Deferred Tax Assets Other
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844000 USD
CY2019Q4 us-gaap Deferred Tax Assets Other
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5533000 USD
CY2020Q4 us-gaap Deferred Tax Assets Gross
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309008000 USD
CY2019Q4 us-gaap Deferred Tax Assets Gross
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333569000 USD
CY2020Q4 lxrx Deferred Tax Liability Related To Acquisition Of Symphony Icon
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0 USD
CY2019Q4 lxrx Deferred Tax Liability Related To Acquisition Of Symphony Icon
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4140000 USD
CY2020Q4 us-gaap Deferred Tax Liabilities Other
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0 USD
CY2019Q4 us-gaap Deferred Tax Liabilities Other
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3000 USD
CY2020Q4 us-gaap Deferred Income Tax Liabilities
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CY2019Q4 us-gaap Deferred Income Tax Liabilities
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4143000 USD
CY2020Q4 us-gaap Deferred Tax Assets Valuation Allowance
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309008000 USD
CY2019Q4 us-gaap Deferred Tax Assets Valuation Allowance
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CY2020Q4 us-gaap Deferred Tax Liabilities
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0 USD
CY2019Q4 us-gaap Deferred Tax Liabilities
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CY2020 us-gaap Effective Income Tax Rate Reconciliation Change In Enacted Tax Rate
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0.21
CY2020 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
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CY2019 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
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26065000 USD
CY2018 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
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CY2020 us-gaap Current State And Local Tax Expense Benefit
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-269000 USD
CY2019 us-gaap Current State And Local Tax Expense Benefit
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445000 USD
CY2018 us-gaap Current State And Local Tax Expense Benefit
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CY2020 us-gaap Effective Income Tax Rate Reconciliation Share Based Compensation Excess Tax Benefit Amount
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1777000 USD
CY2019 us-gaap Effective Income Tax Rate Reconciliation Share Based Compensation Excess Tax Benefit Amount
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1688000 USD
CY2018 us-gaap Effective Income Tax Rate Reconciliation Share Based Compensation Excess Tax Benefit Amount
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1059000 USD
CY2019 us-gaap Income Tax Reconciliation Nondeductible Expense Research And Development
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0 USD
CY2018 us-gaap Income Tax Reconciliation Nondeductible Expense Research And Development
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978000 USD
CY2020 lxrx Write Off Of Tax Credits
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31053000 USD
CY2020 us-gaap Income Tax Reconciliation Change In Deferred Tax Assets Valuation Allowance
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-20418000 USD
CY2019 us-gaap Income Tax Reconciliation Change In Deferred Tax Assets Valuation Allowance
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