Lexicon Pharmaceuticals receives additional compliance period from Nasdaq

Lexicon Pharmaceuticals , Inc. (NASDAQ:LXRX) announced Thursday it has received a letter from the Nasdaq Stock Market granting the company an additional 180-day period, until December 30, 2025, to regain compliance with Nasdaq’s minimum $1 bid price requirement for its common stock.

To regain compliance, the closing bid price of Lexicon’s common stock must meet or exceed $1 per share for at least ten consecutive business days during this period. The company became eligible for the extension after applying to transfer its common stock listing from the Nasdaq Global Select Market to the Nasdaq Capital Market. Nasdaq approved the transfer, which will take effect at the opening of business on Monday.

Lexicon’s continued eligibility for the additional compliance period is subject to meeting the ongoing listing requirements for the market value of publicly held shares and other initial listing standards of the Nasdaq Capital Market, except for the bid price rule. The company has also provided written notice of its intention to cure the deficiency, including the possibility of a reverse stock split if needed, as outlined in its transfer application.

This information is based on a statement issued in a press release filed with the U.S. Securities and Exchange Commission.

In other recent news, Lexicon Pharmaceuticals reported its Q1 2025 financial results, revealing a smaller-than-expected loss per share but a significant revenue shortfall. The company posted an earnings per share (EPS) of -$0.07, outperforming the anticipated -$0.12. However, revenue reached only $1.26 million, falling short of the forecasted $2.82 million. In addition to its earnings announcement, Lexicon secured a $45 million upfront payment from Novo Nordisk (NYSE:NVO) as part of an exclusive license agreement for LX9851, a candidate for obesity and metabolic conditions. Furthermore, Lexicon announced positive Phase 2b results for pilavapitan in diabetic peripheral neuropathic pain (DPNP), identifying a well-tolerated dose to advance into Phase 3 studies. Despite these developments, Lexicon’s stock experienced a decline, reflecting investor concerns over the revenue miss. Analysts from firms like Jefferies and Leerink Partners engaged with Lexicon’s management during the earnings call, discussing the strategic plans and future trials for pilavapitan and other programs. The company also highlighted its ongoing Sonata HCM study for sotagliflozin, which is enrolling patients for both obstructive and non-obstructive hypertrophic cardiomyopathy.

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