Lexicon Pharmaceuticals (LXRX) H.C. Wainwright 27th Annual Global Investment Conference summary

Portfolio and R&D pipeline progress

• Focus shifted to core cardiometabolic R&D, with strong progress in the first two-thirds of the year.

• Pilibapadin completed phase 2 trials in diabetic peripheral neuropathic pain (DPNP) and post-herpetic neuralgia, with a phase 3 program being prepared.

• LX9851 R&D studies nearing completion, with a worldwide license agreement with Novo Nordisk for obesity and related conditions.

• Sotagliflozin phase 3 SONATA trial for hypertrophic cardiomyopathy (HCM) is accelerating enrollment, with full enrollment expected in 2026.

• Regulatory submissions and approvals for sotagliflozin in heart failure are advancing outside the U.S. and Europe with partner Vieitrace.

Clinical data and trial design

• Pilibapadin demonstrated strong biological activity and clinically meaningful benefit in neuropathic pain, with 10 mg selected for phase 3.

• Three positive phase 2 trials in PHN and DPNP, with pilibapadin showing clear separation from placebo.

• Advisory board validated the scientific and clinical approach, supporting phase 3 advancement.

• Phase 3 DPNP trials will use a two-arm design (placebo vs. active), aiming to reduce variability and placebo response.

• SOTA-CROSS and SOTA-PCARDIA studies complement SONATA HCM, focusing on exercise capacity and cardiorenal benefits.

Strategic partnerships and financial outlook

• Ex-U.S. and ex-EU rights for all indications licensed to Vieitrace; LX9851 licensed globally to Novo Nordisk with significant upfront, milestone, and royalty payments.

• Flexible deal-making approach aims to maximize financial and portfolio value.

• Ongoing discussions for pilibapadin partnering in DPNP and other indications.