That’s a wrap.
Lexicon Pharma Cuts 60% of Workforce, Saves $140M Amid FDA Setback for Zynquista | LXRX Stock News
Lexicon Pharma Cuts 60% of Workforce, Saves $140M Amid FDA Setback for Zynquista | LXRX Stock News
Lexicon Pharmaceuticals (LXRX) announced a strategic restructuring to eliminate its commercial operations and focus on clinical development following FDA's deficiency letter regarding Zynquista™. The company will reduce its workforce by approximately 60% by December 31st and expects to reduce 2025 operating costs by $100 million, in addition to previously announced $40 million savings.
The company will prioritize its R&D pipeline, including the Phase 2b PROGRESS study of LX9211 for diabetic peripheral neuropathic pain, the Phase 3 SONATA HCM study of sotagliflozin, and IND-enabling studies of LX9851 for obesity. INPEFA® will continue to be available but without promotional efforts.
Lexicon Pharma Cuts 60% of Workforce, Saves $140M Amid FDA Setback for Zynquista | LXRX Stock News
Lexicon Pharma Cuts 60% of Workforce, Saves $140M Amid FDA Setback for Zynquista | LXRX Stock News
Lexicon Pharmaceuticals (LXRX) announced a strategic restructuring to eliminate its commercial operations and focus on clinical development following FDA's deficiency letter regarding Zynquista™. The company will reduce its workforce by approximately 60% by December 31st and expects to reduce 2025 operating costs by $100 million, in addition to previously announced $40 million savings.
The company will prioritize its R&D pipeline, including the Phase 2b PROGRESS study of LX9211 for diabetic peripheral neuropathic pain, the Phase 3 SONATA HCM study of sotagliflozin, and IND-enabling studies of LX9851 for obesity. INPEFA® will continue to be available but without promotional efforts.