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Lexicon Pharmaceuticals Provides Clinical Pipeline Update and Reports 2010 Third Quarter Financial Results
Date:11/5/2010

eed to make up to $80 million in additional base and contingent payments.

Revenues:  Lexicon's revenues for the three months ended September 30, 2010 decreased 63 percent to $0.8 million from $2.1 million for the corresponding period in 2009.  The decrease for the three months ended September 30, 2010 was primarily attributable to reduced revenues under Lexicon's alliance agreements with Taconic Farms and Bristol-Myers Squibb Company.  For the nine months ended September 30, 2010, revenues decreased 61 percent to $3.7 million from $9.3 million for the corresponding period in 2009.

Research and Development Expenses:  Research and development expenses for the three months ended September 30, 2010 increased four percent to $20.1 million from $19.3 million for the corresponding period in 2009.  For the nine months ended September 30, 2010, research and development expenses decreased two percent to $61.4 million from $62.4 million for the corresponding period in 2009.

General and Administrative Expenses:  General and administrative expenses for the three months ended September 30, 2010 increased eight percent to $4.9 million from $4.6 million for the corresponding period in 2009.  The increase was primarily attributable to increases in salary and benefit costs.  For the nine months ended September 30, 2010, general and administrative expenses increased four percent to $15.5 million from $15.0 million for the corresponding period in 2009.

Net Loss Attributable to Lexicon Pharmaceuticals, Inc.:  Net loss for the three months ended September 30, 2010 was $27.5 million, or $0.08 per share, compared to a net loss of $19.1 million, or $0.14 per share, in the corresponding period in 2009.  Net loss for the nine months ended September 30, 2010 was $78.8 million, or $0.27 per share, compared to a net loss of $60.8 million, or $0.44 per share, for the corresponding period
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SOURCE Lexicon Pharmaceuticals, Inc.
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