Lexicon Pharmaceuticals to Cut 60% of Workforce

MT Newswires Live11-22

Lexicon Pharmaceuticals (LXRX) said Friday it plans to cut 60% of its workforce, with most departures effective by Dec. 31, as part of a shift to focus on its clinical development pipeline.

The company said it will eliminate commercial operations, including promotional efforts for Inpefa and planned activities for Zynquista, to conserve cash and advance high-impact research programs.

The restructuring follows an FDA letter identifying deficiencies in the new drug application for Zynquista as an adjunct to insulin therapy for type 1 diabetes and chronic kidney disease.

The drug developer said that Inpefa will remain available to patients and prescribers.

Lexicon anticipates a $100 million reduction in 2025 operating costs, in addition to $40 million in savings announced earlier this year.

The company will focus on key programs, including a phase 2 study of LX9211 for diabetic peripheral neuropathic pain, a phase 3 study of sotagliflozin for hypertrophic cardiomyopathy, and IND-enabling studies of LX9851 for obesity and cardiometabolic disorders.

Lexicon shares were 4% lower in premarket trading.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap

Leave a comment

{"i18n":{"language":"en_US"},"isChannel":false,"data":{"share":"https://ttm.financial/m/news/2485826319?lang=en_US&edition=fundamental","thumbnail":"","is_english":true,"pubTime":"2024-11-22 21:43","share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","id":"2485826319","market":"us","top_or_hot":-1,"title":"Lexicon Pharmaceuticals to Cut 60% of Workforce","media":"MT Newswires Live","content":"<html><body><p> Lexicon Pharmaceuticals (LXRX) said Friday it plans to cut 60% of its workforce, with most departures effective by Dec. 31, as part of a shift to focus on its clinical development pipeline.</p><p>The company said it will eliminate commercial operations, including promotional efforts for Inpefa and planned activities for Zynquista, to conserve cash and advance high-impact research programs.</p><p>The restructuring follows an FDA letter identifying deficiencies in the new drug application for Zynquista as an adjunct to insulin therapy for type 1 diabetes and chronic kidney disease.</p><p>The drug developer said that Inpefa will remain available to patients and prescribers.</p><p>Lexicon anticipates a $100 million reduction in 2025 operating costs, in addition to $40 million in savings announced earlier this year.</p><p>The company will focus on key programs, including a phase 2 study of LX9211 for diabetic peripheral neuropathic pain, a phase 3 study of sotagliflozin for hypertrophic cardiomyopathy, and IND-enabling studies of LX9851 for obesity and cardiometabolic disorders.</p><p>Lexicon shares were 4% lower in premarket trading.</p></body></html>","source":"mtnewswires_news","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Lexicon Pharmaceuticals to Cut 60% of Workforce</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nLexicon Pharmaceuticals to Cut 60% of Workforce\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-11-22 21:43 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.mtnewswires.com/><strong>MT Newswires Live</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Lexicon Pharmaceuticals (LXRX) said Friday it plans to cut 60% of its workforce, with most departures effective by Dec. 31, as part of a shift to focus on its clinical development pipeline.The company...</p>\n\n<a href=\"https://www.mtnewswires.com/\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"BK4139","symbol_name":"生物科技","start_time":0,"source_url":"https://www.mtnewswires.com/","article_id":"2485826319","we_media_id":"1092851196","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2485826319","pubTimestamp":1732283026,"sourceInfo":{"source_id":"mtnewswires_news","name":"MT Newswires"},"weMediaInfo":{"media_name":"MT Newswires Live","introduction":"The most recognized names in North America, Europe and Asia rely on MT Newswires to power their applications. Better news, better service, better price.","home_visible":1,"id":"1092851196","head_image":"https://community-static.tradeup.com/news/3002d84abbd5ace3c99397c7f95b8d4e"},"summary":"Lexicon Pharmaceuticals (LXRX) said Friday it plans to cut 60% of its workforce, with most departures effective by Dec. 31, as part of a shift to focus on its clinical development pipeline.The company","collect":0,"end_time":0,"defaultTopTitle":"","property":[],"viewcount":null,"language":"en","relate_stocks":{"BK4139":"生物科技","LXRX":"莱斯康制药"},"translate_title":"Lexicon Pharmaceuticals将裁员60%","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"LXRX":1},"content_text":"Lexicon Pharmaceuticals (LXRX) said Friday it plans to cut 60% of its workforce, with most departures effective by Dec. 31, as part of a shift to focus on its clinical development pipeline.The company said it will eliminate commercial operations, including promotional efforts for Inpefa and planned activities for Zynquista, to conserve cash and advance high-impact research programs.The restructuring follows an FDA letter identifying deficiencies in the new drug application for Zynquista as an adjunct to insulin therapy for type 1 diabetes and chronic kidney disease.The drug developer said that Inpefa will remain available to patients and prescribers.Lexicon anticipates a $100 million reduction in 2025 operating costs, in addition to $40 million in savings announced earlier this year.The company will focus on key programs, including a phase 2 study of LX9211 for diabetic peripheral neuropathic pain, a phase 3 study of sotagliflozin for hypertrophic cardiomyopathy, and IND-enabling studies of LX9851 for obesity and cardiometabolic disorders.Lexicon shares were 4% lower in premarket trading.","kind":null,"is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"-2","news_tag":"Executive Changes","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.3","shortVersion":"4.29.3","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2485826319"}