Nothing about the Lexicon Pharmaceuticals (LXRX) story has been easy or conventional, and that includes the company's somewhat surprising decision to sell off its sole commercial product, Xermelo, and effectively return itself to a pre-revenue stage with a single asset in the clinic (LX9211 for pain).
The decision to monetize Xermelo makes some sense, though there are some curious aspects to the deal, and I can't say it dramatically increases the risk profile. That said, Lexicon's funding situation is still less than ideal, and the company's decision to put all of its near-term