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Lexicon Pharmaceuticals Provides Clinical Pipeline Update and Reports 2009 Fourth Quarter and Full Year Financial Results
Date:2/23/2010

d half of 2010.
  • In October 2009, Lexicon completed the public offering and sale of 38.3 million shares of its common stock at $1.50 per share.  The net proceeds of the offering were $55.2 million, after deducting underwriting discounts and offering expenses.  

  • LX1031 and LX1032 are being developed in a product development collaboration with Symphony Capital Partners, L.P. and its co-investors.

    Financial Results

    Revenues:  Lexicon's revenues for the three months ended December 31, 2009 decreased 78 percent to $1.4 million from $6.4 million for the corresponding period in 2008.  The decrease was primarily attributable to reduced revenues under Lexicon's alliances with N.V. Organon, Bristol-Myers Squibb and Genentech, Inc., partially offset by increases in revenue under the company's collaboration with Taconic Farms, Inc.  For the year ended December 31, 2009, revenues decreased 67 percent to $10.7 million from $32.3 million for the corresponding period in 2008. '/>"/>

    SOURCE Lexicon Pharmaceuticals, Inc.
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