Lexicon Pharmaceuticals Inc (Lexicon) is a biopharmaceutical company dedicated to the discovery and development of treatments for serious and chronic health conditions. The company focuses on researching and developing new drug candidates while also working on the commercialization of drugs that have already received approval. Its primary areas of interest are cardiometabolism, which relates to heart and metabolic health, and neuroscience, which involves understanding and treating conditions affecting the nervous system.

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Lexicon is focusing its research and development efforts on several key drug candidates, including pilavapadin (LX9211) for neuropathic pain, LX9851 for obesity and weight management, and sotagliflozin for heart failure, hypertrophic cardiomyopathy (HCM), and type 1 diabetes. The company has received Fast Track designation from the FDA for pilavapadin in diabetic peripheral neuropathic pain (DPNP) and is conducting IND-enabling studies for LX9851. Sotagliflozin is being commercialized under the name INPEFA for heart failure and is in Phase 3 clinical trials for HCM. Lexicon is also engaged in preclinical research and development of additional compounds, driven by a target biology-driven approach using gene knockout technologies. Lexicon owns or exclusively licenses patents and patent applications worldwide, including issued patents and pending applications in regions such as Europe, the US, Australia, Brazil, Canada, China, India, Israel, Japan, Mexico, New Zealand, South Africa, and South Korea. These patents cover pilavapadin, LX9851, and sotagliflozin, including their crystalline forms, pharmaceutical compositions, and methods of manufacture and use. Lexicon collaborates with Bristol-Myers Squibb in its drug discovery alliance and seeks partnerships with other pharmaceutical and biotechnology companies, research institutes, and academic institutions to leverage its drug target discoveries. Some of its other pipeline products include Sotagliflozin in Phase III to treat Hypertrophic Cardiomyopathy (HCM); Pilavapadin in Phase 2 to treat Diabetic Peripheral Neuropathic Pain (DPNP); and LX9851 in the Preclinical stage to treat Obesity/Weight Management. In FY2025, the company spent US$61.1 million on R&D, which decreased 27.6% YoY.