Lexicon Pharmaceuticals, Inc. reported its financial results for the second quarter ended June 30, 2025, on August 6, 2025. Total revenues for the quarter significantly increased to $28.9 million from $1.6 million in the corresponding period of 2024. This substantial increase includes $27.5 million in licensing revenue derived from the exclusive agreement with Novo Nordisk for LX9851.
Research and development (R&D) expenses decreased to $15.7 million from $17.6 million in Q2 2024, primarily due to lower external research on the PROGRESS clinical trial, partially offset by increased investment in the SONATA Phase 3 study. Selling, general and administrative (SG&A) expenses saw a dramatic reduction, decreasing to $9.4 million from $39.2 million in Q2 2024, reflecting the strategic repositioning and significantly reduced marketing efforts.
Lexicon achieved a net income of $3.3 million, or $0.01 per diluted share, for Q2 2025, a significant improvement compared to a net loss of $53.4 million, or $0.17 per share, in Q2 2024. As of June 30, 2025, the company held $139 million in cash and investments and $29 million in restricted cash.
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