lexicon pharmaceuticals inc (LXRX) Key Developments
Sanofi Partners with Lexicon Pharmaceuticals to Develop Diabetes Solution
Nov 13 15
Sanofi is partnering with Lexicon Pharmaceuticals to develop and commercialize sotagliflozin to treat diabetes. The deal was struck a day after Sanofi announced a licensing deal worth $4.2 billion with Hanmi Pharmaceutical for rights to a trio of next-generation diabetes medicine. Sotagliflozin is being studied in two pivotal Phase 3 trials in Type 1 diabetes, and Phase 3 trials in Type 2 diabetes are expected to begin in 2016. Lexicon will receive an upfront payment of $300 million, with the potential of milestone payments up to $1.4 billion. The company will be responsible for clinical development, and Sanofi will gain exclusive worldwide rights to develop, manufacture and commercialize sotagliflozin.
Lexicon Pharmaceuticals, Inc. Presents at Jefferies Autumn 2015 Global Healthcare Conference, Nov-19-2015 08:00 AM
Nov 12 15
Lexicon Pharmaceuticals, Inc. Presents at Jefferies Autumn 2015 Global Healthcare Conference, Nov-19-2015 08:00 AM. Venue: The May Fair Hotel, Stratton Street, London, United Kingdom.
Lexicon Pharmaceuticals, Inc. Presents at Stifel Healthcare Conference 2015, Nov-17-2015 08:45 AM
Nov 12 15
Lexicon Pharmaceuticals, Inc. Presents at Stifel Healthcare Conference 2015, Nov-17-2015 08:45 AM. Venue: The New York Palace Hotel, Hubbard Room, New York, New York, United States. Speakers: Lonnel Coats, Chief Executive Officer, President and Director.
Lexicon Pharmaceuticals, Inc. Announces Unaudited Consolidated Earnings Results for the Third Quarter and Nine Months Ended September 30, 2015; Reports Impairment Loss on Buildings for the Third Quarter of 2015; Provides Cash Flow Guidance for the Year 2015
Nov 6 15
Lexicon Pharmaceuticals, Inc. announced unaudited consolidated earnings results for the third quarter and nine months ended September 30, 2015. For the quarter, revenues increased to $0.6 million from $0.4 million for the corresponding period in 2014. Net loss was $35.3 million, or $0.34 per share, compared to $40.5 million, or $0.55 per share, in the corresponding period in 2014. Loss from operations was $33,677,000 against $40,336,000 a year ago.
For the nine months, revenues increased to $2.7 million from $1.4 million for the corresponding period in 2014. Net loss was $91.4 million, or $0.88 per share, compared to $97.4 million, or $1.32 per share, in the corresponding period in 2014. Loss from operations was $86,892,000 against $96,919,000 a year ago.
The company reported impairment loss on buildings of $2,349,000 for the third quarter of 2015 against $13,102,000 a year ago.
The company expected 2015 net cash used in operations to be in the range of $130 million to $140 million, which is a decrease from last quarter's guidance of $140 million to $150 million.
Sanofi and Lexicon Pharma to Collaborate on Sotagliflozin
Nov 6 15
Sanofi and Lexicon Pharmaceuticals Inc. announced that they have entered into a collaboration and license agreement for the development and commercialization of sotagliflozin, an investigational new oral dual inhibitor of sodium-glucose cotransporters 1 and 2 (SGLT-1 and SGLT-2), which could be a potential treatment option for people with diabetes. As per the terms of the agreement, Lexicon will receive an upfront payment of $300 million and is eligible to receive development, regulatory and sales milestone payments of up to $1.4 billion. Lexicon is also entitled to tiered, escalating double digit percentage royalties on net sales of sotagliflozin. Sanofi obtains an exclusive worldwide license to develop, manufacture and commercialize sotagliflozin. Lexicon will continue to be responsible for all clinical development activities relating to type 1 diabetes and will retain an exclusive option to co-promote and have a significant role, in collaboration with Sanofi, in the commercialization of sotagliflozin for the treatment of type 1 diabetes in the United States. Sanofi will be responsible for all clinical development and commercialization activities of sotagliflozin for the treatment of type 2 diabetes worldwide and will be solely responsible for the commercialization of sotagliflozin for the treatment of type 1 diabetes outside the United States. Lexicon will share in the funding of a portion of the planned type 2 diabetes development costs over the next three years, up to an aggregate of $100 million.