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Lexicon Pharmaceuticals Reports On Clinical Program Status And 2012 First Quarter Results
Date:5/3/2012

ate of the fair value of the liability for the associated base and contingent payments.  Changes in this liability, based on the development of the programs and the time until such payments are expected to be made, are recorded in Lexicon's consolidated statements of operations.  The increase in fair value of the Symphony Icon purchase liability was $2.1 million and $1.1 million for the three months ended March 31, 2012 and 2011, respectively. 

General and Administrative Expenses:  General and administrative expenses for the three months ended March 31, 2012 decreased four percent to $4.6 million from $4.8 million for the corresponding period in 2011.  The decrease was primarily attributable to decreases in personnel and facility costs.

Consolidated Net Loss:  Net loss for the three months ended March 31, 2012 was $29.9 million, or $0.06 per share, compared to a net loss of $29.6 million, or $0.09 per share, in the corresponding period in 2011.  For the three months ended March 31, 2012, net loss included non-cash, stock-based compensation expense of $1.7 million, compared to $1.5 million in the corresponding period in 2011.

Cash and Investments:  As of March 31, 2012, Lexicon had $253.7 million in cash and investments, as compared to $281.7 million as of December 31, 2011. 

Lexicon Conference Call:
Lexicon management will hold a conference call and webcast at 11:00 a.m. Eastern Time on May 3, 2012 to discuss financial results for the first quarter of 2012 and the current status of its clinical programs.  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 73722762.  Investors can access a live webcast of the call at www.lexpharma.com.  An archived version of the webcast will be available on Lexicon's co
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SOURCE Lexicon Pharmaceuticals, Inc.
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