LXRX - Lexicon Pharmaceuticals falls 8% despite Q3 earnings beat

Shares of Lexicon Pharmaceuticals (NASDAQ:LXRX) are down 8% in after-hours trading even though the company's Q3 2021 earnings results beat expectations on GAAP EPS. Lexicon swung to a net loss in the quarter of $23.1M ($0.16 per share) from net income of $82.6M in the prior-year period ($0.71 per share). The company noted that Q3 2020 included a gain of $132.8 million from the sale of Xermelo and related assets to TerSera. As a result of that sale, revenue in the quarter was negligible. Lexicon ended the quarter with $120.9M in cash. The company said it remains on track for an NDA around year end for the dual SGLT1 and SGLT2 inhibitor sotagliflozin for heart failure in patients with type 2 diabetes. In addition, results from a phase 2 trial LX9211 for diabetic peripheral neuropathic pain and post-herpetic neuralgia is expected in 1H 2022. Find out about phase 3 data analyses of sotagliflozin.

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Lexicon Pharmaceuticals falls 8% despite Q3 earnings beat