Lexicon Pharma (LXRX) Tops Q1 EPS by 6c, Slight Beat on Revenues

Lexicon Pharma (NASDAQ: LXRX) reported Q1 EPS of ($0.63), $0.06 better than the analyst estimate of ($0.69). Revenue for the quarter came in at $7.88 million versus the consensus estimate of $7.79 million.

“We achieved 17% growth in XERMELO net sales for the first quarter of 2020 compared to the prior-year period, and we see favorable growth dynamics going forward,” said Lonnel Coats, Lexicon’s president and chief executive officer. “We have made good progress on our pipeline, having fully enrolled the first efficacy cohort of 20 patients in the Phase 2 telotristat ethyl study in biliary tract cancer from which we expect top-line data later this year. Importantly, we are steps closer to advancing our next major innovation, LX9211, into a proof-of-concept study in diabetic peripheral neuropathic pain, which we expect to initiate mid-year. Finally, we are making progress on the close-out of the two sotagliflozin outcome studies, SCORED and SOLOIST, which we expect to conclude in the near term.”

For earnings history and earnings-related data on Lexicon Pharma (LXRX) click here.

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