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LXRX on Nasdaq

Lexicon Pharmaceuticals

American pharmaceutical company

Lexicon Pharmaceuticals, Inc. is a biopharmaceutical company developing treatments for human disease. The company was founded in 1995 in The Woodlands, Texas under the name Lexicon Genetics, Incorporated by co-founders Professor Allan Bradley, FRS and Professor Bradley's postdoctoral fellow Arthur T Sands. The company has used its mouse gene knockout technology and in vivo screening capabilities to study nearly 5,000 genes in its Genome5000 program and has identified over 100 potential therapeutic targets.3 Its shares trade on Nasdaq under the symbol LXRX.1 Wikipedia text CC BY-SA 4.0

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Last updated Oct 21, 2026.

Overview

1995Founded1

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  • TickerLXRX on Nasdaq1
  • Industrypharmaceutical industry1
  • HeadquartersThe Woodlands1
  • Founded inThe Woodlands1
  • Websitewww.lexpharma.com
  • Incorporated inDE4
  • Business address2445 Technology Forest Blvd., Suite 1100, The Woodlands, Tx 773814
  • Filer categoryNon-accelerated filer, Smaller reporting company4
  • Legal formCorporation

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Lexicon Pharmaceuticals, Inc. is a biopharmaceutical company developing treatments for human disease. The company was founded in 1995 in The Woodlands, Texas under the name Lexicon Genetics, Incorporated by co-founders Professor Allan Bradley, FRS and Professor Bradley's postdoctoral fellow Arthur T Sands. The company has used its mouse gene knockout technology and in vivo screening capabilities to study nearly 5,000 genes in its Genome5000 program and has identified over 100 potential therapeutic targets. Lexicon has advanced multiple drug candidates into human clinical trials and has a broad and diverse pipeline of drug targets behind its clinical programs. Lexicon is pursuing drug targets in five therapeutic areas including oncology, gastroenterology, immunology, metabolism, and ophthalmology.3

Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Key numbers, fiscal 2025

-98.2%Operating margin6
-101.1%Net margin6
729.9%Revenue growth, 20256
-46.8%Return on equity6
0.46×Debt to equity6
-$67.9MFree cash flow6

What sells

Revenue by product, business segment and region, as the company reports it to the SEC.

Products and services

License brought in 91% of the revenue Lexicon Pharmaceuticals broke down this way in fiscal 2025.

  1. License$45.0M691%up 80% from 2024
  2. Product$4.6M69%down 23% from 2024
Products and services by year
Products and services202320242025
License$0$25.0M$45.0M
Product$1.1M$6.0M$4.6M

Where the money goes

Where each dollar of revenue went, fiscal 2025

  • Cost of revenue0¢$274.0K
  • Research and development62¢$61.1M
  • Selling, general and admin38¢$37.3M

Out of $49.8M in revenue.6 The company lost money this year.

Financial statements

Revenue789106$49.8M in 2025+54% since 2019
0$20.0M$40.0M$60.0M2019: $32.3M$32.3M20192020: $23.4M$23.4M2020−28%2021: $0$020212022: $0$020222023: $1.1M$1.1M20232024: $6.0M$6.0M2024+441%2025: $49.8M$49.8M2025+730%
Operating income789106-$48.9M in 2025
-$200.0M-$100.0M0$100.0M$200.0M2019: $141.4M$141.4M20192020: -$47.8M-$47.8M20202021: -$87.1M-$87.1M2021+82%2022: -$100.8M-$100.8M2022+16%2023: -$171.8M-$171.8M2023+70%2024: -$197.1M-$197.1M2024+15%2025: -$48.9M-$48.9M2025−75%
Net income789106-$50.3M in 2025
-$300.0M-$200.0M-$100.0M0$100.0M$200.0M2019: $130.1M$130.1M20192020: -$58.6M-$58.6M20202021: -$87.8M-$87.8M2021+50%2022: -$101.9M-$101.9M2022+16%2023: -$177.1M-$177.1M2023+74%2024: -$200.4M-$200.4M2024+13%2025: -$50.3M-$50.3M2025−75%

Every line of the income statement as filed: the last 3 fiscal years, latest first.6

Period ending2025-12-312024-12-312023-12-31
Royalties and other revenue$156.0K$80.0K$94.0K
Total revenues$49.8M$31.1M$1.2M
Cost of sales$274.0K$616.0K$85.0K
Research and development$61.1M$84.5M$58.9M
Selling, General and Administrative Expense$37.3M$143.1M$114.0M
Total operating expenses$98.7M$228.2M$173.0M
Loss from operations-$48.9M-$197.1M-$171.8M
Interest and other expense-$8.3M-$15.6M-$13.1M
Interest income and other$6.9M$12.3M$7.7M
Net loss-$50.3M-$200.4M-$177.1M
Net loss per common share, basic (usd per share)-$0.14-$0.63-$0.80
Net loss per common share, diluted (usd per share)-$0.14-$0.63-$0.80
Shares used in computing net loss per common share, basic363.1M shares320.0M shares221.1M shares
Shares used in computing net loss per common share, diluted363.1M shares320.0M shares221.1M shares
Unrealized (loss) gain on investments-$89.0K$88.0K$459.0K
Comprehensive loss-$50.4M-$200.3M-$176.7M
Stock-based compensation$12.5M$13.5M$14.3M

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Corporate structure

Lexicon Pharmaceuticals sits at the top of its group. 1 entity, 1 country on record. Switch between the flow chart and the network, and select any entity to see its details.

Major holders of Lexicon Pharmaceuticals

  • FMR LLC Filed SCHEDULE 13G/A on Lexicon Pharmaceuticals, latest Aug 6, 2026 (6 filings since Feb 9, 2022)
  • Invus Global Management, LLC Filed SCHEDULE 13D/A on Lexicon Pharmaceuticals, latest May 8, 2026 (2 filings since Feb 2, 2026)
  • Invus, L.P. Filed SC 13D/A on Lexicon Pharmaceuticals, latest Dec 9, 2024 (7 filings since Aug 1, 2022)
  • BIOTECHNOLOGY VALUE FUND L P Filed SC 13G/A on Lexicon Pharmaceuticals, latest Nov 14, 2024 (4 filings since Feb 14, 2022)
  • Lexicon Pharmaceuticals The Woodlands

Built from major holders from Schedules 13D and 13G. Each entity in the chart links to its source.

What it owns

What Lexicon Pharmaceuticals reports owning in its annual reports to the SEC: buildings, land and equipment, real estate and locations, investments, intangible assets and inventory, at the end of its latest fiscal year and a year before.

Property and equipment

ItemLatestA year beforeChange
Property and equipment, before depreciation$4.6M6 Dec 31, 2025$4.6M6 Dec 31, 20240%
Accumulated depreciation$2.7M6 Dec 31, 2025$2.1M6 Dec 31, 2024+29.8%
Property and equipment, net$1.9M6 Dec 31, 2025$2.5M6 Dec 31, 2024−25.0%
Operating-lease assets (leased space)$7.3M6 Dec 31, 2025$4.8M6 Dec 31, 2024+51.4%

Investments

ItemLatestA year beforeChange
Cash and cash equivalents$34.3M6 Dec 31, 2025$66.7M6 Dec 31, 2024−48.5%
Marketable securities, current$61.9M6 Dec 31, 2025$171.3M6 Dec 31, 2024−63.9%

Intangibles and goodwill

ItemLatestA year beforeChange
Goodwill$44.5M6 Dec 31, 2025$44.5M6 Dec 31, 20240%

Inventory

ItemLatestA year beforeChange
Inventory, total$281.0K6 Dec 31, 2025$231.0K6 Dec 31, 2024+21.6%
Raw materials$103.0K10 Dec 31, 2024$010 Dec 31, 2023
Work in process$010 Dec 31, 2024$100.0K10 Dec 31, 2023−100.0%
Finished goods$128.0K10 Dec 31, 2024$281.0K10 Dec 31, 2023−54.4%

Properties, in its own words

In July 2024, we entered into a new lease agreement for our 25,000 square-foot office space in The Woodlands, Texas. The term of the lease began in September 2025, extends through January 2031 and provides for escalating yearly base rent payments starting at $774,000 and increasing to $875,000 in the final year of the lease.

In July 2022, our subsidiary, Lexicon Pharmaceuticals (New Jersey), Inc. leased a 22,000 square-foot office space in Bridgewater, New Jersey. The term of the lease extends through January 2034 and provides for escalating yearly base rent payments starting at $820,000 and increasing to $986,000 in the final year of the lease.

The rest of Item 2

We believe that our facilities are well-maintained, in good operating condition and acceptable for our current operations.

Item 2 of the 10-K filed Mar 5, 2026.14

The story

Lexicon Pharmaceuticals was founded in September 1995 as a biotech venture of Baylor College of Medicine. The company went public in April 2000 with $220 million initial public offerings. In June, 2001 Lexicon purchased a privately owned small chemical library synthesis company, Coelacanth Corporation in Princeton, New Jersey, which became the site for the company's small molecule and medicinal chemistry efforts. The company's original name was Lexicon Genetics Incorporated, but in 2007, the name changed to Lexicon Pharmaceuticals, Inc. to reflect a renewed focus on drug development.

The company initially focused on using gene knockout technology to define the function of genes. This effort complemented and benefited from the international effort to sequence the human and mouse genomes (see Human Genome Project). Using its proprietary gene trapping and gene targeting technologies, the company created A repository of genetically modified mouse embryonic stem cells, known as OmniBank, and established a large-scale mammalian knockout program to discover the physiological and behavioral functions of the most druggable mammalian genes. The information collected from this program is stored in the company's LexVision database, which contains almost 5,000 gene knockouts studied. Over the years, Lexicon evolved from a genomics company into a drug discovery and development company focused on discovering and developing treatments for human disease. The company currently has multiple drug candidates in various stages of clinical trials.

In 2016, the company was ranked #8 on the Deloitte Fast 500 North America list.

From Wikipedia’s article on Lexicon Pharmaceuticals, shared under CC BY-SA 4.0.5

Leadership

Who has led Lexicon Pharmaceuticals, and when. Pick a name to see everywhere that person has worked.

Chief executive

  1. Arthur T. Sands2006–2014
  2. Lonnel Coats2014–2024
  3. Michael Exton2024–now

President

  1. Arthur T. Sands2010–2014
  2. Lonnel Coats2014–2021
  3. Jeffrey L. Wade2022–2024

Chief financial officer

  1. Julia P. Gregory2006–2008
  2. Ajay Bansal2009
  3. Jeffrey L. Wade2010–2024
  4. Scott M. Coiante2025–now

Chief operating officer

  1. Jeffrey L. Wade2024
200020052010201520202025
Board members and other officers (52)

Named in SEC Form D filings

People the company listed in its private-offering notices.

  • DirectorPhillipe J. Amouyal named Aug 3, 2022 to Feb 17, 202670

Products and brands

Technology

Lexicon uses patented gene trapping and gene targeting technologies to generate and study knockout mice to discover the physiological and behavioral effects that result from the disruption of a single gene knockout. Because there is a close similarity in gene function and physiology between mice and humans, with a large majority of human genes having a counterpart in the mouse genome, knockout mouse technology has become a powerful tool in the discovery of new medicines.

The value of Lexicon's technology in drug discovery has been described in a retrospective analysis by the scientific journal Nature. The conclusion of this analysis was that, in most cases, there was a direct correlation when comparing the physiological characteristics, or phenotypes, of knockout mice to the therapeutic effect of the 100 best-selling drugs of 2001. The tremendous utility of knockout mouse technology was recognized in 2007 with the Nobel Prize in Physiology or Medicine to Drs. Mario Capecchi, Martin Evans, and Oliver Smithies.

In developing small molecule drugs for its validated targets, Lexicon uses medicinal chemistry known as "click chemistry." Dr. K. Barry Sharpless, who was awarded the 2001 Nobel Prize in Chemistry, developed this tools for the rapid synthesis of novel compounds. Lexicon uses solution-phase chemistry to generate diverse libraries of optically pure compounds that are built using organic reactions that allow the company to generate collections of different compounds and to tailor the compound collections to address various therapeutic target families. Lexicon's medicinal chemists design these libraries by analyzing the chemical structures of drugs that have been proven safe and effective against human disease and using that knowledge in the design of scaffolds and chemical building blocks for the generation of large numbers of new drug-like compounds.

Locations

Lexicon operates from two locations found in Texas and New Jersey. The corporate headquarters are in The Woodlands, Texas just north of Houston. This location serves as Lexicon's primary research facility to discover and validate the company's drug targets and test drug candidates in preclinical research. The company's clinical development and regulatory team is also based at the corporate headquarters.

Read the full text

Lexicon's campus in Princeton, New Jersey is the home of Lexicon's small molecule medicinal chemistry and preclinical development efforts. This site serves as Lexicon's primary medicinal chemistry site to create new chemical entities for therapeutic development.

From Wikipedia’s article on Lexicon Pharmaceuticals, shared under CC BY-SA 4.0.5

Former names

  • LEXICON PHARMACEUTICALS, INC./DEApr 27, 2007 to Dec 5, 20144
  • LEXICON GENETICS INC/TXMar 1, 2000 to Apr 2, 20074

Timeline

  1. Aug 6, 20268-K Results of operations71
  2. May 7, 20268-K Results of operations72
  3. May 6, 20268-K Entered a material agreement; New debt or obligation; Unregistered sale of shares73
  4. Apr 30, 20268-K Entered a material agreement; Unregistered sale of shares; Bylaws or fiscal year changed74
  5. Mar 5, 20268-K Results of operations75
  6. Feb 2, 20268-K Entered a material agreement; Unregistered sale of shares; Change to shareholders' rights76
  7. Jan 29, 20268-K Results of operations; Regulation FD disclosure; Other events77
  8. Nov 10, 20258-K Other events78
  9. Nov 6, 20258-K Results of operations79
  10. Nov 6, 20258-K Other events80
  11. Aug 6, 20258-K Results of operations81
  12. Jul 28, 20258-K Other events82
  13. Jul 8, 2024New chief executive Michael Exton becomes CEO15
  14. Jul 8, 2014New chief executive Lonnel Coats becomes CEO16
  15. Feb 3, 2006New chief executive Arthur T. Sands becomes CEO17
  16. Jun 23, 2000Went public Listed on NASDAQ1
  17. 1995Founded Founded in The Woodlands1

Calendar

Coming up

  1. Nov 5, 2026Reports results for the quarter ending Sep/2026 A year earlier it reported ($0.04) a share, on Nov 6, 2025.83

When it reported results

  1. Aug 6, 2026Reported quarterly or annual results71
  2. May 7, 2026Reported quarterly or annual results72
  3. Mar 5, 2026Reported quarterly or annual results75
  4. Jan 29, 2026Reported quarterly or annual results77
  5. Nov 6, 2025Reported quarterly or annual results79
  6. Aug 6, 2025Reported quarterly or annual results81
  7. May 13, 2025Reported quarterly or annual results84
  8. Mar 6, 2025Reported quarterly or annual results85

Drug trials and FDA: coming up

  1. Jan 2027Phase 3 trial readout expected Phase 3 trial of Sotagliflozin in Obstructive Cardiomyopathy, Hypertrophic: primary completion expected Jan 2027 (ClinicalTrials.gov NCT06481891).86

Drug trials and FDA: recently

  1. Oct 31, 2024FDA advisory committee The FDA's Endocrinologic and Metabolic Drugs Advisory Committee met to discuss sotagliflozin oral tablet (NDA 210934), submitted by Lexicon Pharmaceuticals, Inc.87
  2. Nov 18, 2022Phase 2 trial completed Phase 2 trial of LX9211 in Postherpetic Neuralgia: primary completion Nov 18, 2022, results posted Feb 13, 2026 (ClinicalTrials.gov NCT04662281).88

Upcoming dates from Nasdaq's calendar; past results from the company's 8-K filings (Item 2.02). Trials from ClinicalTrials.gov, as the sponsor registered them (expected dates are the sponsor's own and often move); approvals and advisory committee meetings from the FDA. The FDA does not publish its decision (PDUFA) dates. The full markets calendar

Filings

352 filings to the SEC since October 2021: 5 annual reports, 15 quarterly reports, 58 major events, 205 insider forms, 19 large holders, 3 private raises, 47 other. The latest 20:

  1. Aug 14, 2026EFFECT EDGAR
  2. Aug 6, 2026S-3 EDGAR
  3. Aug 6, 2026S-8 EDGAR
  4. Aug 6, 202610-Q EDGAR
  5. Aug 6, 20268-K EDGAR
  6. Aug 6, 2026SCHEDULE 13G/A EDGAR
  7. Jun 4, 20264 PRIMARY DOCUMENT EDGAR
  8. Jun 4, 20264 PRIMARY DOCUMENT EDGAR
  9. Jun 4, 20264 PRIMARY DOCUMENT EDGAR
  10. Jun 4, 20264 PRIMARY DOCUMENT EDGAR
  11. Jun 4, 20264 PRIMARY DOCUMENT EDGAR
  12. Jun 4, 20264 PRIMARY DOCUMENT EDGAR
  13. Jun 4, 20264 PRIMARY DOCUMENT EDGAR
  14. May 8, 20264 EDGAR
  15. May 8, 2026SCHEDULE 13D/A EDGAR
  16. May 7, 202610-Q EDGAR
  17. May 7, 20268-K EDGAR
  18. May 6, 20268-K EDGAR
  19. May 4, 20264 PRIMARY DOCUMENT EDGAR
  20. May 4, 20264 PRIMARY DOCUMENT EDGAR

The 352 filings since October 2021 can be filtered by form type and year here when JavaScript is on.

Every filing from the last five years, summarized. The full record is on SEC EDGAR.

Insider trades

28 open-market trades by officers, directors and large owners since October 2021: 28 buys and 0 sales. Grants, option exercises and gifts are left out.

DateWhoTradeSharesPriceValueFiling
Feb 25, 2026DEBBANE RAYMONDDirectorBuy2,000$1.49$3.0KForm 4
Feb 23, 2026DEBBANE RAYMONDDirectorBuy100,000$1.47$147.0KForm 4
Feb 20, 2026DEBBANE RAYMONDDirectorBuy100,000$1.48$148.0KForm 4
Feb 19, 2026DEBBANE RAYMONDDirectorBuy50,000$1.44$72.0KForm 4
Feb 18, 2026DEBBANE RAYMONDDirectorBuy133,688$1.32$176.5KForm 4
Feb 17, 2026DEBBANE RAYMONDDirectorBuy76,857$1.31$100.7KForm 4
Feb 13, 2026DEBBANE RAYMONDDirectorBuy57,952$1.31$75.9KForm 4
Feb 2, 2026Artal Group S.A.DirectorBuy1,538,462$1.30$2.0MForm 4
Nov 16, 2023COATS LONNELChief Executive OfficerBuy90,000$1.05$94.5KForm 4
Nov 13, 2023Amouyal PhilippeDirectorBuy200,000$1.01$202.0KForm 4
Nov 10, 2023COATS LONNELChief Executive OfficerBuy10,000$1.01$10.1KForm 4
Oct 12, 2023DEBBANE RAYMONDDirectorBuy148,820$1.03$153.3KForm 4
Oct 11, 2023DEBBANE RAYMONDDirectorBuy342,874$1.08$370.3KForm 4
Oct 10, 2023DEBBANE RAYMONDDirectorBuy508,306$1.14$579.5KForm 4
Sep 14, 2023WADE JEFFREY LPresident and COOBuy10,000$1.38$13.8KForm 4
Aug 4, 2023McDermott WendySVP, Human ResourcesBuy6,000$1.84$11.0KForm 4
Jun 29, 2023COATS LONNELChief Executive OfficerBuy10,000$2.16$21.6KForm 4
Jun 26, 2023COATS LONNELChief Executive OfficerBuy10,000$2.18$21.8KForm 4
Jun 23, 2023McDermott WendySVP, Human ResourcesBuy10,000$2.43$24.3KForm 4
Jun 23, 2023COATS LONNELChief Executive OfficerBuy10,000$2.50$25.0KForm 4

All 28 trades can be filtered by person here when JavaScript is on.

From Forms 4 filed with the SEC.

Major holders

Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.

Executive pay

What the company paid its top executives, from the summary compensation table in its proxy statement. Total pay includes salary, bonus, stock and option awards and other pay, as the company valued them.

YearExecutiveAgeSalaryTotal pay
2025Michael S. ExtonPh.D.$650.6K$3.6M93
2024Chief Executive Officer$303.7K$2.8M93

Funding

Where the company's money came from, by calendar year: private offerings filed with the SEC, federal grants, loans, contracts and other assistance from USAspending.gov, and PPP loans from the SBA. Each bar links to the records below.

Money received by year$170.8M 2022–2026
Money received by yearMoney received by year, 2022–2026: $170.8M in all. Private raises (Form D) $170.8M.$0$20M$40M$60M$80M2022 · Private raises (Form D): $42.9M20222023 · Private raises (Form D): $72.2M2023202420252026 · Private raises (Form D): $55.7M2026
Figures by year
YearPrivate raises (Form D)Total
2026$55.7M$55.7M
2023$72.2M$72.2M
2022$42.9M$42.9M

Private raises

Private offerings the company reported to the SEC on Form D. The amount is what the latest filing says was sold so far, charted in the year of the first sale. Covers filings since Oct 1, 2021.

  1. Feb 2, 2026Raised $55.7 million in a private offering of equity70 Form D: $59.1 million offered in all Form D
  2. Jun 5, 2023Raised $72.2 million in a private offering of equity94 Form D: 1 investor so far Form D
  3. Aug 1, 2022Raised $42.9 million in a private offering of equity95 Form D: $49.3 million offered in all Form D

Held by these funds

The largest holders among investment managers' 13F reports for the quarter ending Jun 30, 2026, the top 25 of 100. Change is in shares since the quarter before.

FundSharesValueShare of the fundChange
Artal Group S.A.175,156,062$420.4M45.1%+20,421,735
Fmr LLC51,782,045$124.3M0.0%+6,725,707
Siren, L.L.C.44,303,518$106.3M2.2%No change
Sessa Capital IM, L.P.18,960,836$45.5M0.8%+1,047,875
BlackRock, Inc.17,348,741$41.6M0.0%+14,026,522
Vanguard Capital Management LLC9,901,208$23.8M0.0%+382,041
Point72 Asset Management, L.P.8,251,325$19.8M0.0%+436,719
Geode Capital Management, LLC6,244,372$15.0M0.0%+3,075,261
State Street Corp4,917,769$11.8M0.0%+3,953,731
Vanguard Portfolio Management LLC2,357,749$5.7M0.0%+1,811,149
Northern Trust Corp1,968,619$4.7M0.0%+1,473,953
Charles Schwab Investment Management Inc1,956,775$4.7M0.0%+645,477
Vanguard Fiduciary Trust Co1,634,571$3.9M0.0%+302,287
Citadel Advisors LLC1,601,182$3.8M0.0%+506,281
Ishara Investments LP1,271,000$3.1M2.2%+369,000
Millennium Management LLC1,134,229$2.7M0.0%−3,810,502
Renaissance Technologies LLC1,127,000$2.7M0.0%−473,500
Mackenzie Financial Corp963,354$2.3M0.0%+190,677
ADAR1 Capital Management, LLC750,000$1.8M0.1%No change
Susquehanna International Group, Llp696,776$1.7M0.0%−1,424,388
UBS Group AG684,713$1.6M0.0%−1,798,469
Two Sigma Investments, LP643,444$1.5M0.0%−556,188
Nuveen, LLC586,664$1.4M0.0%New
Bank of New York Mellon Corp568,706$1.4M0.0%+541,247
Invesco Ltd.508,071$1.2M0.0%−4,355

13F reports cover disclosed long positions in U.S. stocks only.

SEC filer profile

How Lexicon Pharmaceuticals is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.

  • Name on EDGARLEXICON PHARMACEUTICALS, INC.2
  • CIK0001062822
  • Employer ID (EIN)76-047416914
  • Filer statusNon-accelerated filer not an emerging growth company; a smaller reporting company; not a shell company14
  • Incorporated inDelaware14
  • Fiscal year endsDecember 312
  • Industry code (SIC)2834 Pharmaceutical Preparations2
  • SEC reviewing officeOffice of Life Sciences, Division of Corporation Finance2
  • Business address2445 Technology Forest Blvd., Suite 1100, The Woodlands, TX 773812
  • Phone28186330002
  • Shares outstanding444,955,934 as of Aug 3, 202612
  • Public float$170.0M as of Jun 30, 202514
  • AuditorErnst & Young LLP, Houston, Texas PCAOB ID 42; no auditor attestation of internal control over financial reporting14
  • On EDGAR sinceFeb 9, 20002
  • Filings1,402 in all: 4 (624), 8-K (249), 10-Q (80), SC 13G/A (52), 3 (42), SC 13D/A (29), CORRESP (28), DEF 14A (28)2
    All 43 form types

    DEFA14A (27), 10-K (25), UPLOAD (22), SC 13G (19), 424B5 (17), ARS (17), S-3 (17), CT ORDER (12), EFFECT (12), S-8 (12), PRE 14A (11), FWP (9), S-3/A (9), D (8), 424B2 (7), 8-K/A (6), 5 (5), S-1/A (4), 10-Q/A (3), POS AM (3), SC 13D (3), SCHEDULE 13G/A (3), 10-K/A (2), 144 (2), 424B3 (2), S-3ASR (2), S-3MEF (2), SCHEDULE 13D/A (2), 10-K405 (1), 4/A (1), 424B4 (1), 8-A12G (1), PRER14A (1), RW (1), S-1 (1)

  • Latest filingsAnnual report (10-K) Mar 5, 2026
    Quarterly report (10-Q) Aug 6, 2026
    Proxy statement (DEF 14A) Mar 16, 2026
    Latest 8-K (8-K) Aug 6, 2026

Securities registered for trading

ClassSymbolExchange
Common Stock, par value $0.001 per shareLXRXNasdaq

From the cover page of the 10-K filed Mar 5, 2026 (Section 12(b) of the Exchange Act).14

Risk factors and legal proceedings

The risks Lexicon Pharmaceuticals names in Item 1A of its 10-K filed Mar 5, 2026: 38 risks under these headings, as written.14

  • Risks Related to Our Business and Industry
  • Risks Related to Our Capital Requirements and Financial Results
  • Risks Related to Our Relationships with Third Parties
  • Risks Related to Our Intellectual Property
  • Risks Related to Our Employees and Facilities
  • Risks Related to Environmental and Product Liability
  • Risks Related to Our Common Stock
  • We depend heavily on our ability to successfully complete the ongoing research and development of our drug programs. If we fail to successfully complete and gain positive results from such research and development efforts, our business will suffer and our stock price will likely decline.
  • Clinical testing of our drug candidates in humans is an inherently risky and time-consuming process that may fail to demonstrate safety and efficacy, which could result in the delay, limitation or prevention of regulatory approval.
  • Our drug candidates are subject to a lengthy and uncertain regulatory process that may not result in the necessary regulatory approvals, which could adversely affect our and our collaborators’ ability to commercialize products.
  • The commercial success of any products that we or our collaborators may develop will depend upon the degree of market acceptance among physicians, patients, health care payers and the medical community.
  • If we are unable to establish an effective sales force, marketing infrastructure and distribution capabilities, we will not be able to successfully commercialize any products that we or our collaborators may develop.
The other 33 risks
  • If we are unable to establish adequate coverage and reimbursement from third-party payers for any products that we or our collaborators may develop, our revenues and prospects for profitability will suffer.
  • We may not be able to manufacture products that we or our collaborators may develop in commercial quantities, which would impair our ability to commercialize such products.
  • We and our collaborators are subject to extensive and rigorous ongoing regulation relating to any products that we or our collaborators may develop.
  • We are subject to certain healthcare laws, regulation and enforcement; our failure to comply with those laws could have a material adverse effect on our results of operations and financial condition.
  • Current healthcare laws and regulations and future legislative or regulatory reforms to the healthcare system may negatively affect our revenues and prospects for profitability.
  • Our competitors may develop products that impair the value of any products that we or our collaborators may develop.
  • The outbreak of the novel coronavirus, or COVID-19, had an adverse impact on our business operations and clinical trials and another novel coronavirus could adversely affect our business in the future.
  • Changes in government trade policies, including tariffs, sanctions and trade barriers could disrupt our supply chain or increase the costs of our clinical and commercial supply, negatively impacting our ability to conduct our clinical and commercial operations, price our commercial product competitively and conduct clinical development in a cost effective manner.
  • We will need additional capital in the future and, if it is unavailable, we will be forced to delay, reduce or eliminate our research and development programs. If additional capital is not available on reasonable terms, we will be forced to obtain funds, if at all, by entering into financing agreements on unattractive terms.
  • We do not have sufficient capital to support Phase 3 development of pilavapadin in DPNP or in neuropathic pain broadly. If we are unable to establish a strategic collaboration or other arrangement for that purpose, our capital needs will be substantially higher and we may be unable to obtain financing sufficient to fund Phase 3 development of pilavapadin on acceptable terms, or at all, and may be required to forego or reduce the scope of any such Phase 3 development program.
  • We have a history of net losses, and we expect to continue to incur net losses and may not achieve or maintain profitability.
  • Our operating results have fluctuated and likely will continue to fluctuate, and we believe that period-to-period comparisons of our operating results are not a good indication of our future performance.
  • We have substantial indebtedness that may limit cash flow available to invest in the ongoing needs of our business.
  • If we do not effectively manage our affirmative and restrictive covenants under the Oxford Term Loans, our financial condition and results of operations could be adversely affected.
  • We depend on our ability to establish collaborations or other arrangements with pharmaceutical and biotechnology companies for the development and commercialization of our drug candidates. If we are unable to establish such collaborations or arrangements, or if pharmaceutical products are not successfully and timely developed and commercialized under such collaborations or arrangements, our opportunities to generate revenues from milestones and royalties or our other drug candidates will be greatly reduced.
  • Conflicts with our collaborators could jeopardize the success of our collaborative agreements and harm our product development efforts.
  • We rely on third parties to carry out our preclinical studies and clinical trials, which may harm or delay our research and development efforts.
  • We lack the capability to manufacture commercial supplies of INPEFA and any other products which gain regulatory approval and other materials for our research and development activities relating to our drug candidates. Our reliance on third parties to manufacture our drugs and drug candidates may harm or delay our research, development and commercialization efforts.
  • If we are unable to adequately protect our intellectual property, third parties may be able to use our products and technologies, which could adversely affect our ability to compete in the market.
  • We may be involved in patent litigation and other disputes regarding intellectual property rights and may require licenses from third parties for our planned research, development and commercialization activities. We may not prevail in any such litigation or other dispute or be able to obtain required licenses.
  • Data breaches and cyber-attacks could compromise our intellectual property or other sensitive information and cause significant damage to our business, reputational harm and financial loss.
  • We may be subject to damages resulting from claims that we, our employees or independent contractors have wrongfully used or disclosed alleged trade secrets of their former employers.
  • If we are unable to manage our business, financial condition, results of operations and prospects may be adversely affected.
  • The loss of key personnel or the inability to attract and retain additional personnel could impair our ability to operate and expand our operations.
  • Our facilities are located near coastal zones, and the occurrence of a hurricane or other disaster could damage our facilities and equipment, which could harm our operations.
  • We have used hazardous chemicals and radioactive and biological substances in our business. Any claims relating to improper handling, storage or disposal of these substances could be time consuming and costly.
  • Our business has a substantial risk of product liability and we face potential product liability exposure far in excess of our limited insurance coverage.
  • Invus, L.P. and its affiliates own a substantial interest in our outstanding common stock and may have interests which conflict with those of our other stockholders.
  • Invus has additional rights under its stockholders’ agreement relating to the membership of our board of directors and under our certificate of incorporation relating to preemptive and consent rights, which provide Invus with substantial influence over significant corporate matters.
  • Our stock price may be extremely volatile.
  • Future issuances or sales of our common stock, or the perception that such issuances or sales may occur, may depress our stock price.
  • If securities or industry analysts do not publish research or publish inaccurate or unfavorable research about our business, our stock price and trading volume could decline.
  • If we are unable to meet Nasdaq continued listing requirements in the future, including minimum trading price, Nasdaq may take action to delist our common stock.

Legal proceedings

We are from time to time party to claims and legal proceedings that arise in the normal course of our business and that we believe will not have, individually or in the aggregate, a material adverse effect on our results of operations, financial condition or liquidity. We are currently not aware of any material legal proceedings affecting our company.

The opening of Item 3, Legal Proceedings.14

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