LXRX - Lexicon Pharmaceuticals GAAP EPS of -$0.16 in-line revenue of $0.04M misses by $0.06M

• Lexicon Pharmaceuticals press release ( NASDAQ: LXRX ): Q2 GAAP EPS of -$0.16 in-line.
• Revenue of $0.04M (-80.0% Y/Y) misses by $0.06M .
• “We received acceptance last week of our New Drug Application (NDA) for sotagliflozin for the treatment of heart failure with a standard review assigned by the FDA and a PDUFA action date anticipated in May 2023,” said Lonnel Coats, Lexicon’s chief executive officer. “As we mentioned in the announcement of the acceptance, we are seeking a broad heart failure label in the NDA, informed by our regulatory discussions, that encompasses heart failure patients with and without diabetes. We believe that the results of SOLOIST-WHF in patients admitted for recent worsening heart failure will be an important element distinguishing our proposed label.”
• “In another major accomplishment this quarter, we announced positive top-line results from our Phase 2 RELIEF-DPN-1 study of LX9211 in painful diabetic neuropathy at the end of June, achieving proof-of-concept for LX9211 with its novel mechanism of action in a historically difficult to treat indication,” Mr. Coats continued. “We expect to report top-line results in the fourth quarter of this year from a second proof-of-concept study of LX9211 in post-herpetic neuralgia. We believe that our recent achievements for both sotagliflozin and LX9211 have the potential to be transformative for our organization, our stakeholders, and most importantly, patients.”

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