Lexicon Pharmaceuticals, Inc. reported its financial results for the first quarter ended March 31, 2025, on May 13, 2025. Total revenues for the quarter increased to $1.3 million from $1.1 million in the corresponding period of 2024, consisting of product revenues from INPEFA sales.
Research and development (R&D) expenses increased modestly to $15.3 million from $14.4 million in Q1 2024, reflecting continued investments in Phase 2 and 3 clinical trials. Selling, general and administrative (SG&A) expenses significantly decreased by 64% to $11.6 million from $32.1 million in Q1 2024, a direct result of the strategic repositioning and reduced marketing efforts.
The net loss for Q1 2025 decreased to $25.3 million, or $0.07 per share, from $48.4 million, or $0.20 per share, in Q1 2024. As of March 31, 2025, Lexicon held $194.8 million in cash and investments, with the $45 million upfront payment from Novo Nordisk received in April 2025, after the quarter's close.
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