$LXRX
LEXICON PHARMACEUTICALS, INC.

2023 Q3 Form 10-Q Financial Statement

#000106282223000047 Filed on August 04, 2023

View on sec.gov

Income Statement

Concept 2023 Q3 2023 Q2 2022 Q4
Revenue $162.0K $317.0K $28.00K
YoY Change 315.38% 805.71% 100.0%
Cost Of Revenue $7.000K $8.000K
YoY Change
Gross Profit $155.0K $309.0K
YoY Change 297.44% 782.86%
Gross Profit Margin 95.68% 97.48%
Selling, General & Admin $32.23M $30.01M $16.33M
YoY Change 156.25% 180.82% 84.59%
% of Gross Profit 20792.26% 9711.33%
Research & Development $17.56M $14.54M $13.98M
YoY Change 66.32% 8.87% -15.28%
% of Gross Profit 11327.74% 4705.83%
Depreciation & Amortization $100.0K $144.0K $103.0K
YoY Change -7.41% 34.58% -8.04%
% of Gross Profit 64.52% 46.6%
Operating Expenses $49.79M $44.55M $30.31M
YoY Change -315.21% -285.3% 19.58%
Operating Profit -$49.63M -$44.24M
YoY Change 114.9% 84.28%
Interest Expense $3.899M -$1.960M -$1.103M
YoY Change 351.27% -378.81% 273.9%
% of Operating Profit
Other Income/Expense, Net $3.005M $1.296M $887.0K
YoY Change 425.35% 953.66% 6235.71%
Pretax Income -$50.50M -$44.90M -$30.49M
YoY Change 115.93% 82.63% 19.07%
Income Tax
% Of Pretax Income
Net Earnings -$50.53M -$44.90M -$30.49M
YoY Change 116.04% 82.63% 19.07%
Net Earnings / Revenue -31188.27% -14165.3% -108907.14%
Basic Earnings Per Share -$0.21 -$0.22
Diluted Earnings Per Share -$0.21 -$0.22 -$0.16
COMMON SHARES
Basic Shares Outstanding 244.9M shares 204.8M shares 188.7M shares
Diluted Shares Outstanding 244.9M shares 204.8M shares

Balance Sheet

Concept 2023 Q3 2023 Q2 2022 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $218.4M $256.7M $138.4M
YoY Change 60.37% 314.31% 59.5%
Cash & Equivalents $21.12M $102.3M $46.35M
Short-Term Investments $197.3M $154.5M $92.01M
Other Short-Term Assets $4.291M $6.124M $2.481M
YoY Change 52.11% 111.46% 14.65%
Inventory $336.0K $172.0K $0.00
Prepaid Expenses
Receivables $318.0K $685.0K $28.00K
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $223.4M $263.7M $140.9M
YoY Change 60.63% 306.36% 58.42%
LONG-TERM ASSETS
Property, Plant & Equipment $2.134M $2.202M $2.071M
YoY Change 128.97% 112.75% 76.11%
Goodwill $44.54M $44.54M $44.54M
YoY Change 0.0% 0.0% 0.0%
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $743.0K $6.259M $6.819M
YoY Change -89.6% 238.51% 200.53%
Total Long-Term Assets $53.11M $53.00M $53.43M
YoY Change 0.92% 11.76% 11.35%
TOTAL ASSETS
Total Short-Term Assets $223.4M $263.7M $140.9M
Total Long-Term Assets $53.11M $53.00M $53.43M
Total Assets $276.5M $316.7M $194.3M
YoY Change 44.24% 181.97% 41.92%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $12.04M $10.50M $10.40M
YoY Change 27.68% 42.93% 13.58%
Accrued Expenses $20.23M $15.61M $12.78M
YoY Change 124.27% 64.04% -1.5%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $32.26M $26.11M $23.17M
YoY Change 74.9% 54.84% 4.74%
LONG-TERM LIABILITIES
Long-Term Debt $99.27M $98.77M $48.58M
YoY Change 317.36% 317.98%
Other Long-Term Liabilities $5.400M $5.482M $5.424M
YoY Change -0.7% 447.11% 355.8%
Total Long-Term Liabilities $99.27M $104.3M $5.424M
YoY Change 239.69% 323.23% 355.8%
TOTAL LIABILITIES
Total Short-Term Liabilities $32.26M $26.11M $23.17M
Total Long-Term Liabilities $99.27M $104.3M $5.424M
Total Liabilities $137.0M $130.4M $77.18M
YoY Change 187.35% 214.17% 231.02%
SHAREHOLDERS EQUITY
Retained Earnings -$1.717B -$1.667B -$1.590B
YoY Change 10.12% 8.51% 6.85%
Common Stock $245.0K $245.0K $189.0K
YoY Change 29.63% 63.33% 26.0%
Preferred Stock
YoY Change
Treasury Stock (at cost) $2.885M $2.885M $2.061M
YoY Change 39.98% 39.98% -72.59%
Treasury Stock Shares 488.0K shares
Shareholders Equity $139.5M $186.4M $117.1M
YoY Change
Total Liabilities & Shareholders Equity $276.5M $316.7M $194.3M
YoY Change 44.24% 181.97% 41.92%

Cashflow Statement

Concept 2023 Q3 2023 Q2 2022 Q4
OPERATING ACTIVITIES
Net Income -$50.53M -$44.90M -$30.49M
YoY Change 116.04% 82.63% 19.07%
Depreciation, Depletion And Amortization $100.0K $144.0K $103.0K
YoY Change -7.41% 34.58% -8.04%
Cash From Operating Activities -$41.60M -$38.12M -$21.57M
YoY Change 114.0% 56.08% -5.52%
INVESTING ACTIVITIES
Capital Expenditures $100.0K $139.0K $1.246M
YoY Change -2600.0% -5517.39%
Acquisitions
YoY Change
Other Investing Activities -$39.30M -$74.47M $25.42M
YoY Change -49.09% 445.64% 315.43%
Cash From Investing Activities -$39.30M -$74.61M $24.17M
YoY Change -49.09% 446.66% 296.56%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -200.0K 189.0M 24.91M
YoY Change -100.21% -320.0%
NET CHANGE
Cash From Operating Activities -41.60M -38.12M -21.57M
Cash From Investing Activities -39.30M -74.61M 24.17M
Cash From Financing Activities -200.0K 189.0M 24.91M
Net Change In Cash -81.10M 76.27M 27.51M
YoY Change 3000.15% -300.34% -198.07%
FREE CASH FLOW
Cash From Operating Activities -$41.60M -$38.12M -$21.57M
Capital Expenditures $100.0K $139.0K $1.246M
Free Cash Flow -$41.70M -$38.26M -$22.82M
YoY Change 114.56% 56.65% 0.04%

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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%;text-decoration:underline">Use of Estimates</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">:</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 requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent 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>
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AccruedCompensationAndBenefitsCurrent
7830000 usd
CY2023Q2 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
1291000 usd
CY2022Q4 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
1291000 usd
CY2023Q2 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
680000 usd
CY2022Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
404000 usd
CY2023Q2 us-gaap Accrued Liabilities Current And Noncurrent
AccruedLiabilitiesCurrentAndNoncurrent
15608000 usd
CY2022Q4 us-gaap Accrued Liabilities Current And Noncurrent
AccruedLiabilitiesCurrentAndNoncurrent
12777000 usd
us-gaap Realized Investment Gains Losses
RealizedInvestmentGainsLosses
0 usd
us-gaap Realized Investment Gains Losses
RealizedInvestmentGainsLosses
0 usd
CY2022Q4 us-gaap Short Term Lease Commitment Amount
ShortTermLeaseCommitmentAmount
1300000 usd
CY2023Q2 us-gaap Cash And Cash Equivalents Fair Value Disclosure
CashAndCashEquivalentsFairValueDisclosure
102271000 usd
CY2023Q2 us-gaap Available For Sale Securities Debt Securities Current
AvailableForSaleSecuritiesDebtSecuritiesCurrent
154468000 usd
CY2023Q2 us-gaap Investments Fair Value Disclosure
InvestmentsFairValueDisclosure
256739000 usd
CY2022Q4 us-gaap Cash And Cash Equivalents Fair Value Disclosure
CashAndCashEquivalentsFairValueDisclosure
46345000 usd
CY2022Q4 us-gaap Available For Sale Securities Debt Securities Current
AvailableForSaleSecuritiesDebtSecuritiesCurrent
92012000 usd
CY2022Q4 us-gaap Investments Fair Value Disclosure
InvestmentsFairValueDisclosure
138357000 usd
CY2022Q1 lxrx Oxford Loan Facility
OxfordLoanFacility
150000000 usd
CY2022Q1 lxrx Term Loan A
TermLoanA
25000000 usd
CY2022Q4 lxrx Term Loan B
TermLoanB
25000000 usd
CY2023Q2 lxrx Term Loan C
TermLoanC
50000000 usd
CY2023Q2 lxrx Term Loan D
TermLoanD
25000000 usd
CY2023Q2 lxrx Term Loan E
TermLoanE
25000000 usd
CY2023Q2 lxrx Final Payment With No Extention
FinalPaymentWithNoExtention
0.06 rate
CY2023Q2 lxrx Final Payment With Extention
FinalPaymentWithExtention
0.07 rate
CY2023Q2 lxrx Term Loan A Final Payment
TermLoanAFinalPayment
6000000 usd
CY2022Q1 lxrx Term Loan A Warrants Number
TermLoanAWarrantsNumber
420673 shares
CY2022Q1 lxrx Term Loan A Warrant Exercise Price
TermLoanAWarrantExercisePrice
2.08
CY2022Q4 lxrx Term Loan B Warrants Number
TermLoanBWarrantsNumber
224128 shares
CY2022Q4 lxrx Term Loan B Warrant Exercise Price
TermLoanBWarrantExercisePrice
1.95
CY2023Q2 lxrx Term Loan C Warrants Number
TermLoanCWarrantsNumber
183824 usd
CY2023Q2 lxrx Term Loan C Warrant Exercise Price
TermLoanCWarrantExercisePrice
2.38
CY2023Q2 lxrx Term Loan D Warrant
TermLoanDWarrant
0.0175
CY2023Q2 us-gaap Long Term Debt
LongTermDebt
98800000 usd
CY2023Q2 us-gaap Debt Instrument Unamortized Discount Premium And Debt Issuance Costs Net
DebtInstrumentUnamortizedDiscountPremiumAndDebtIssuanceCostsNet
7200000 usd
CY2023Q2 lxrx A2025 Oxford Principal And Final Exit Fee Payments
A2025OxfordPrincipalAndFinalExitFeePayments
34800000 usd
CY2023Q2 lxrx A2026 Oxford Principal And Final Exit Fee Payments
A2026OxfordPrincipalAndFinalExitFeePayments
52200000 usd
CY2023Q2 lxrx A2027 Oxford Principal And Final Exit Fee Payments
A2027OxfordPrincipalAndFinalExitFeePayments
19000000.0 usd
CY2022Q2 us-gaap Debt Instrument Interest Rate Stated Percentage
DebtInstrumentInterestRateStatedPercentage
0.0790
CY2022Q2 us-gaap Long Term Debt Percentage Bearing Fixed Interest Rate
LongTermDebtPercentageBearingFixedInterestRate
0.0801
CY2023Q2 lxrx Term Loan Incremental Interest Component
TermLoanIncrementalInterestComponent
0.0010
CY2022Q2 us-gaap Debt Instrument Interest Rate Stated Percentage
DebtInstrumentInterestRateStatedPercentage
0.0790
CY2023Q2 lxrx Term Loan Cd Interest Rate Stated Percentage
TermLoanCDInterestRateStatedPercentage
0.0700
CY2023Q2 us-gaap Debt Weighted Average Interest Rate
DebtWeightedAverageInterestRate
0.127
us-gaap Interest Expense
InterestExpense
3800000 usd
us-gaap Amortization Of Debt Discount Premium
AmortizationOfDebtDiscountPremium
500000 usd
CY2023Q2 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
6300000 usd
CY2022Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
6800000 usd
CY2023Q2 us-gaap Short Term Lease Commitment Amount
ShortTermLeaseCommitmentAmount
1300000 usd
CY2023Q2 us-gaap Long Term Debt And Capital Lease Obligations
LongTermDebtAndCapitalLeaseObligations
5500000 usd
CY2022Q4 us-gaap Long Term Debt And Capital Lease Obligations
LongTermDebtAndCapitalLeaseObligations
5400000 usd
CY2023Q2 us-gaap Operating Lease Expense
OperatingLeaseExpense
400000 usd
us-gaap Operating Lease Expense
OperatingLeaseExpense
800000 usd
CY2022Q2 us-gaap Operating Lease Expense
OperatingLeaseExpense
300000 usd
us-gaap Operating Lease Expense
OperatingLeaseExpense
700000 usd
us-gaap Payments For Rent
PaymentsForRent
300000 usd
us-gaap Payments For Rent
PaymentsForRent
600000 usd
CY2023Q2 us-gaap Finance Lease Weighted Average Remaining Lease Term1
FinanceLeaseWeightedAverageRemainingLeaseTerm1
P9Y3M18D
CY2022Q4 us-gaap Finance Lease Weighted Average Remaining Lease Term1
FinanceLeaseWeightedAverageRemainingLeaseTerm1
P9Y6M
CY2023Q2 us-gaap Finance Lease Weighted Average Discount Rate Percent
FinanceLeaseWeightedAverageDiscountRatePercent
0.096 rate
CY2022Q4 us-gaap Finance Lease Weighted Average Discount Rate Percent
FinanceLeaseWeightedAverageDiscountRatePercent
0.096 rate
CY2023Q2 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
540000 usd
CY2023Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
1378000 usd
CY2023Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
1220000 usd
CY2023Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
865000 usd
CY2023Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Five
LesseeOperatingLeaseLiabilityPaymentsDueYearFive
881000 usd
CY2023Q2 us-gaap Lessee Operating Lease Liability Payments Due After Year Five
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFive
5644000 usd
CY2023Q2 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
10528000 usd
CY2023Q2 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
3755000 usd
CY2023Q2 us-gaap Operating Lease Liability
OperatingLeaseLiability
6773000 usd
CY2023Q2 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
1291000 usd
CY2023Q2 us-gaap Long Term Debt And Capital Lease Obligations
LongTermDebtAndCapitalLeaseObligations
5482000 usd
CY2023Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
18500000 shares
CY2023Q2 lxrx May2023 Equity Offering Shares Sold
May2023EquityOfferingSharesSold
55288460 shares
CY2023Q2 lxrx May2023 Equity Offering Price Per Share
May2023EquityOfferingPricePerShare
2.60
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
139000000 usd

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