Lexicon Pharmaceuticals, Inc. Files 2023 Annual Report on Form 10-K

TL;DR

<b>Lexicon Pharmaceuticals, Inc. has submitted its 2023 annual report on Form 10-K, detailing its financial performance and business operations for the fiscal year ending December 31, 2023.</b>

AI Summary

LEXICON PHARMACEUTICALS, INC. (LXRX) filed a Annual Report (10-K) with the SEC on March 25, 2024. Lexicon Pharmaceuticals, Inc. filed its annual report on Form 10-K for the fiscal year ended December 31, 2023. The filing covers the period from January 1, 2023, to December 31, 2023. The company's principal business address is 2445 Technology Forest Blvd., Suite 1100, The Woodlands, TX 77381. Lexicon Pharmaceuticals, Inc. was incorporated in Delaware. The filing was made on March 25, 2024.

Why It Matters

For investors and stakeholders tracking LEXICON PHARMACEUTICALS, INC., this filing contains several important signals. This 10-K filing provides a comprehensive overview of Lexicon's financial health, operational activities, and strategic direction for the past fiscal year, which is crucial for investors to assess the company's performance and future prospects. The detailed financial statements and risk factor disclosures within the report are essential for understanding the company's current financial position, potential challenges, and regulatory compliance.

Risk Assessment

Risk Level: medium — LEXICON PHARMACEUTICALS, INC. shows moderate risk based on this filing. The company's financial performance and future prospects are subject to the inherent risks and uncertainties of drug development and commercialization, including regulatory approvals, market acceptance, and competition, as detailed in the risk factors section of the 10-K.

Analyst Insight

Investors should review the detailed financial statements and risk factors in the 10-K to assess Lexicon Pharmaceuticals' financial health and the potential impact of industry-specific risks on its future performance.

Key Numbers

• 2023-12-31 — Fiscal Year End (Reporting period)
• 2024-03-25 — Filing Date (Date of submission)
• 2818633000 — Business Phone (Contact number)
• 000-30111 — SEC File Number (SEC registration number)

Key Players & Entities

• LEXICON PHARMACEUTICALS, INC. (company) — Filer name
• LXRX (company) — Ticker symbol
• 2023-12-31 (date) — Fiscal year end
• 2024-03-25 (date) — Filing date
• 2445 TECHNOLOGY FOREST BLVD. SUITE 1100 (address) — Business address
• THE WOODLANDS, TX (address) — Business address city and state
• 77381 (postal_code) — Business address zip code
• DE (state) — State of incorporation

FAQ

Industry Context

Lexicon Pharmaceuticals operates within the pharmaceutical industry, focusing on the discovery and development of innovative medicines.

Regulatory Implications

The company is subject to regulations by the U.S. Securities and Exchange Commission (SEC) for its public filings, including this Form 10-K.

What Investors Should Do

1. Review the detailed financial statements for the fiscal year ended December 31, 2023.
2. Analyze the risk factors section to understand potential challenges and uncertainties.
3. Examine any disclosures regarding research and development activities and their progress.

Key Dates

• 2023-12-31: Fiscal Year End — End of the reporting period for the 10-K.
• 2024-03-25: Filing Date — Date the 10-K was officially submitted to the SEC.

Year-Over-Year Comparison

This filing represents the annual report for the fiscal year 2023, providing updated financial and operational information compared to previous filings.

Key Financial Figures

• $0.001 — ich Registered Common Stock, par value $0.001 per share LXRX Nasdaq Global Select Mar
• $2.29 — lobal Select Market on June 30, 2023 of $2.29 per share. For purposes of the precedin

Filing Documents

• lxrx-20231231.htm (10-K) — 1301KB
• exh106summaryofnon-employe.htm (EX-10.6) — 5KB
• exh1010officerrestrictedst.htm (EX-10.10) — 24KB
• exh231ernstyoungconsent2023.htm (EX-23.1) — 3KB
• exh311certificationofprinc.htm (EX-31.1) — 11KB
• exh312certificationofprinc.htm (EX-31.2) — 11KB
• exh321certificationofprinc.htm (EX-32.1) — 7KB
• exh971incentive-basedcompe.htm (EX-97.1) — 24KB
• lxrx-20231231_g1.jpg (GRAPHIC) — 91KB
• 0001062822-24-000008.txt (&nbsp;) — 6441KB
• lxrx-20231231.xsd (EX-101.SCH) — 30KB
• lxrx-20231231_cal.xml (EX-101.CAL) — 65KB
• lxrx-20231231_def.xml (EX-101.DEF) — 184KB
• lxrx-20231231_lab.xml (EX-101.LAB) — 575KB
• lxrx-20231231_pre.xml (EX-101.PRE) — 389KB
• lxrx-20231231_htm.xml (XML) — 706KB

Signatures

Signatures 50 The Lexicon name and logo and INPEFA are registered trademarks of Lexicon Pharmaceuticals, Inc. INPEFA Together is a trademark of Lexicon Pharmaceuticals, Inc. _____________________________________________________ In this annual report on Form 10-K, "Lexicon Pharmaceuticals," "Lexicon," "the Company," "we," "us" and "our" refer to Lexicon Pharmaceuticals, Inc. and its subsidiaries. _____________________________________________________ Factors Affecting Forward-Looking Statements This annual report on Form 10-K contains forward-looking statements. These statements relate to future events or our future financial performance. We have attempted to identify forward-looking statements by terminology including "anticipate," "believe," "can," "continue," "could," "estimate," "expect," "intend," "may," "plan," "potential," "predict," "should" or "will" or the negative of these terms or other comparable terminology. These statements are only predictions and involve known and unknown risks, uncertainties and other factors, including the risks outlined under "Item 1A. Risk Factors," that may cause our or our industry's actual results, levels of activity, performance or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements. Although we believe that the expectations reflected in the forward-looking statements are reasonable, we cannot guarantee future results, levels of activity, performance or achievements. We are not under any duty to update any of the forward-looking statements after the date of this annual report on Form 10-K to conform these statements to actual results, unless required by law. PART I

Business

Item 1. Business Overview We are a biopharmaceutical company with a mission of pioneering medicines that transform patients' lives. We are devoting most of our resources to the commercialization of our approved drug, INPEFA (sotagliflozin), for heart failure and the research and development of our most advanced drug candidates: We are commercializing INPEFA, an orally-delivered small molecule drug, in the United States to reduce the risk of cardiovascular death, hospitalization for heart failure, and urgent heart failure visits in adults with heart failure or type 2 diabetes mellitus, chronic kidney disease, or CKD, and other cardiovascular risk factors. We are separately pursuing regulatory approval of sotagliflozin as a treatment for type 1 diabetes. The U.S. Food and Drug Administration, or FDA, issued a complete response letter regarding our New Drug Application, or NDA, for sotagliflozin in type 1 diabetes in March 2019, which we appealed. Following FDA feedback from recent discussions, we are now preparing to resubmit our NDA for patients with type 1 diabetes and CKD. We have reported positive results from three Phase 3 clinical trials of sotagliflozin in type 1 diabetes. We are also developing sotagliflozin as a treatment for hypertrophic cardiomyopathy, or HCM, and are preparing to initiate a Phase 3 clinical trial of sotagliflozin in HCM. We are developing LX9211, an orally-delivered small molecule drug candidate, as a treatment for neuropathic pain. We are conducting a Phase 2b clinical trial of LX9211 in diabetic peripheral neuropathic pain, or DPNP, and have received Fast Track designation from the FDA for development of LX9211 in that indication. We have reported positive results from a Phase 2 clinical trial of LX9211 in DPNP and top-line results from a separate Phase 2 clinical trial of LX9211 in post-herpetic neuralgia which also demonstrated evidence of effect. We are conducting preclinical development of LX9851, an orally-delivered sm