Lexicon reports Q2 EPS 1c, consensus (8c)

Reports Q2 revenue $28.866M vs $1.647M last year. “We continue to make great strides against the strategy we set forth as an R&D focused company,” said Mike Exton, Ph.D., Lexicon’s (LXRX) chief executive officer and director. “I’m very pleased with the strong progress we are making across the board on our objectives. Partnership discussions for pilavapadin are underway with full Phase 2 data in hand which we expect will be presented at an upcoming medical meeting. Our IND-enabling work for LX9851 is on schedule for completion this year which we expect will add value to both Lexicon and our licensee Novo Nordisk. Patient enrollment in our SONATA Phase 3 study for sotagliflozin in both obstructive and non-obstructive HCM is accelerating with site initiations now surpassing 100. Lastly, our licensee Viatris continues to make strong progress in its filing strategy to bring sotagliflozin to many more markets outside the U.S. and EU, with the potential for Lexicon to begin receiving royalties on Viatris sales of sotagliflozin next year.”