General and Administrative Expenses: General and administrative expenses for the three months ended March 31, 2013 decreased five percent to $4.3 million from $4.6 million for the corresponding period in 2012. The decrease was primarily attributable to decreases in personnel costs.
Consolidated Net Loss: Net loss for the three months ended March 31, 2013 was $26.0 million, or $0.05 per share, compared to a net loss of $29.9 million, or $0.06 per share, in the corresponding period in 2012. For the three months ended March 31, 2013, net loss included non-cash, stock-based compensation expense of $2.1 million, compared to $1.7 million in the corresponding period in 2012.
Cash and Investments: As of March 31, 2013, Lexicon had $197.2 million in cash and investments, as compared to $223.2 million as of December 31, 2012.
Lexicon Conference CallLexicon management will hold a conference call to discuss its clinical development progress and financial results for the first quarter of 2013 at 11:00 a.m. Eastern Time on May 10, 2013. The dial-in number for the conference call is 888-645-5785 (within the US/Canada) or 970-300-1531 (international). The conference ID for all callers is 64449185. Investors can access a live webcast of the call at www.lexpharma.com. An archived version of the webcast will be available on the website through June 10, 2013.
About LexiconLexicon is a biopharmaceutical company focused on discovering breakthrough treatments for human disease. Lexicon currently has multiple drug programs in clinical development for diabetes, irritable bowel syndrome, carcinoid syndrome and other indications, all of which were discovered by Lexicon's research team. Lexicon has used its proprietary gene knockout technology to identify more than 100 promising drug targets
|SOURCE Lexicon Pharmaceuticals, Inc.|
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