Lexicon Pharmaceuticals Inc - Company Profile
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Business Description
Lexicon Pharmaceuticals Inc (Lexicon) discovers and develops drugs based on genes for the treatment of human diseases. The business alliances of the company provided it finances for drug development, while strengthening its pipeline.
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R&D Overview
The company's research and development operations include collaborative research and development, besides exclusive research by the company. Lexicon has multiple products in the pipeline such as sotagliflozin, LX9211, LX2761 and UTTR1147a. Lexicon conducts the Phase 1, 2 and 3 clinical trials of its drugs, which can take up to 10 years. The company expects to spend a substantial amount on research and development operations in the future and fund the clinical and non-clinical development efforts. As of December 2022, the company's R&D expenses stood at US$52.8 million, compared to US$55.04 million in FY2021. R&D expense decreased by US$4.1 million over that in FY2021.
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