Lexicon Pharmaceuticals Inc (LXRX)

Shares of Lexicon Pharmaceuticals Inc (LXRX) dropped by 8.80% from $1.25 to $1.14 in the trading on Wednesday, November 08, 2023. The reason why LXRX is down today is due to the release of the company's third-quarter 2023 financial results, which included:

• Revenues of $0.2 million from the recent launch of INPEFA.
• Increased research and development expenses to $17.6 million due to higher manufacturing costs and external expenses.
• Higher selling, general, and administrative expenses of $32.2 million related to INPEFA's commercial launch preparations.
• A net loss of $50.5 million for the quarter.
• Cash and investments of $218.4 million as of September 30, 2023, compared to $138.4 million at the end of 2022. Investor sentiment was impacted by these results, leading to the decline in LXRX's share price.

Shares of Lexicon Pharmaceuticals Inc (LXRX) dropped by 7.47% from $2.745 to $2.54 in the trading on Monday, June 05, 2023. The reason why LXRX is down today is due to the announcement of the closing of Lexicon's public offering and concurrent private placement of common stock. The offering included additional shares to underwriters and an affiliate of Lexicon's largest shareholder. The total gross proceeds from the offerings were approximately $71.5 million for the public offering and approximately $72.2 million for the private placement. Lexicon plans to use these proceeds for the commercial launch of INPEFA™ and continued research and development of its drug candidates, among other corporate purposes.