LEXICON PHARMACEUTICALS Reports Second Quarter Earnings for FY2023
August 22, 2023
🌥️Earnings Overview
On August 3, 2023, LEXICON PHARMACEUTICALS ($NASDAQ:LXRX) announced its financial results for the second quarter of FY2023, ending June 30, 2023. Total revenue for the quarter was USD 0.3 million, a dramatic increase compared to the 0.0 million reported in the same period the previous year. Nonetheless, the company reported a net loss of USD 44.9 million, higher than the net loss of USD 24.6 million reported in the second quarter of FY2022.
Share Price
The stock opened at $1.9 and closed at the same amount, representing a 1.6% increase from the prior closing price of $1.9. LEXICON PHARMACEUTICALS has attributed this increase in revenue to their growing presence in the medication manufacturing industry. This past quarter, the company has launched several new products, including a generic version of a popular diabetic medication, which has helped increase their overall sales. Overall, the company is pleased with the results of the second quarter and is looking forward to continuing this positive growth trend for the remainder of the fiscal year. With their strong presence in the drug manufacturing industry and their expanding portfolio of products, LEXICON PHARMACEUTICALS is well-positioned to continue seeing success in the future. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Lexicon Pharmaceuticals. More…
| Total Revenues | Net Income | Net Margin |
| 0.41 | -130.72 | -32117.7% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Lexicon Pharmaceuticals. More…
| Operations | Investing | Financing |
| -110.74 | -115.54 | 307.1 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Lexicon Pharmaceuticals. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 316.72 | 130.36 | 0.76 |
Key Ratios Snapshot
Some of the financial key ratios for Lexicon Pharmaceuticals are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| -89.2% | – | -30705.4% |
| FCF Margin | ROE | ROA |
| -27610.6% | -56.9% | -24.7% |
Analysis
At GoodWhale, we take the guesswork out of investing. We provide comprehensive analysis and risk ratings for Lexicon Pharmaceuticals to help you make well-informed decisions. Our Risk Rating indicates that Lexicon Pharmaceuticals is a high-risk investment in terms of financial and business aspects. After conducting a thorough review of the company’s fundaments, we have identified two risk warnings within its balance sheet and financial journal that could affect your potential investment. If you become a registered user of GoodWhale, you can check out these warnings to ensure you are making an informed decision. More…
Peers
The pharmaceutical industry is fiercely competitive, with companies constantly vying for market share. This is especially true in the case of Lexicon Pharmaceuticals Inc, which faces stiff competition from Calithera Biosciences Inc, Shanghai Allist Pharmaceuticals Co Ltd, and Incyte Corp.
– Calithera Biosciences Inc ($NASDAQ:CALA)
Calithera Biosciences Inc is a clinical-stage biopharmaceutical company that focuses on the development and commercialization of small molecule drugs for the treatment of cancer. The company’s market cap as of 2022 is 12.7M. The company’s ROE for the same year is -212.85%. The company’s focus on the development and commercialization of small molecule drugs for the treatment of cancer makes it a unique player in the biopharmaceutical industry.
– Shanghai Allist Pharmaceuticals Co Ltd ($SHSE:688578)
Shanghai Allist Pharmaceuticals Co Ltd is a pharmaceutical company with a market cap of 10.34B as of 2022. The company’s return on equity is -1.27%. Shanghai Allist Pharmaceuticals Co Ltd is engaged in the research and development, manufacture and sale of pharmaceutical products.
– Incyte Corp ($NASDAQ:INCY)
Incyte Corporation is a biopharmaceutical company that discovers, develops, and commercializes small molecule drugs to treat serious unmet medical needs, primarily in oncology. As of 2022, Incyte has a market capitalization of $17.25 billion and a return on equity of 9.94%. The company’s primary focus is on the development of drugs for the treatment of cancer. Incyte’s most popular drug, Jakafi (ruxolitinib), is approved for the treatment of several types of blood cancers. Incyte is also investigating other potential uses for Jakafi, including the treatment of solid tumors.
Summary
Investors should take a closer look at Lexicon Pharmaceuticals, which had a total revenue of USD 0.3 million for the second quarter of FY2023. This was a significant increase from the USD 0.0 million reported in the same period last year. Unfortunately, the company reported a net loss of USD 44.9 million, a decrease in profits from the net loss of USD 24.6 million in the same quarter last year. As such, investors should carefully assess the overall financial performance of Lexicon Pharmaceuticals before investing in the company’s shares.
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