Lexicon Pharmaceuticals, Inc.

Lexicon Pharmaceuticals reported total revenues of $49.8 million for FY 2025, a 60% increase from $31.1 million in FY 2024. This growth was primarily driven by a $45 million upfront payment from the Novo Nordisk license agreement for LX9851 and $4.6 million in net product revenue from INPEFA sales. The company incurred a net loss of $50.3 million, significantly improved from a $200.4 million net loss in FY 2024, reflecting reduced operating expenses following a late-2024 restructuring. Operating expenses decreased to $98.7 million from $227.6 million in the prior year. Cash used in operations was $67.9 million, while investing activities provided $113.0 million from net maturities of investments. The company ended the year with $125.2 million in total cash, cash equivalents, short-term investments, and restricted cash, and believes its current resources are sufficient to fund operations for at least the next 12 months.

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