LEXICON PHARMACEUTICALS, INC.
LXRX · Pharmaceutical Preparations · 444.2M shares · +23%/yr ↑ dilution · EDGAR filings ↗
Net buyback after stock comp: -$13M (gross $864K, SBC $14M)
Reference price $1.49 · est. market cap ~$662M — last insider purchase, 2026-02-25 (estimated from the dated SEC Form 4 price × shares outstanding — not a live quote)
Grade
D44Clinical/early-stage biotech — losses and burn, funded
Strengths
- Liquidity — current ratio 4.9 (57th)
Risks
- Pre-revenue, deep losses — per metrics
- Pre-revenue/clinical-stage — history of losses & need for capital per risk factors
- Binary clinical/pipeline & funding risk — per 10-K
Notable findings
- Net lossNet loss (net margin -101.1%)
- Cash burnNegative free cash flow (-67.9M)
- Fund exitedNotable fund(s) exited this quarter: VANGUARD GROUP INC
- Chronic dilutionShare count +23%/yr over 2y (dilution, book value/share -24%)
- Insider buyingInsider buying — 8 open-market buy(s) by 2 insider(s) (cluster of 2 insiders, ~$3M, last 6mo) Form 4 ↗
- Notable holderHeld by 5 notable fund(s): FMR LLC, CITADEL ADVISORS LLC, RENAISSANCE TECHNOLOGIES LLC +2 more (as of 2026-03-31)
Quarterly revenue
Last 4 quarters · from SEC filings.
Key metrics
Gross margin
99.4%
Operating margin
-98.2%
Net margin
-101.1%
Return on equity
-46.8%
Return on assets
-27.2%
ROIC
-24.6%
Revenue growth (QoQ)
284.2%
Debt / equity
0.5×
Current ratio
4.9×
Free cash flow
-$68M
EBITDA
-$48M
Tangible book value
$63M
Cash & investments
$96M
Cash runway
6q
Stock comp / revenue
25.1%
Insider transactions · last 18 months
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| 2026-06-03 | Swain Judith L | Option exercise | 89K | — |
| 2026-06-03 | Sullivan Diane E. | Option exercise | 89K | — |
| 2026-06-03 | SOBECKI CHRISTOPHER J | Option exercise | 89K | — |
| 2026-06-03 | Cheung Ivan | Option exercise | 89K | — |
| 2026-06-03 | BARKER SAM L | Option exercise | 89K | — |
| 2026-06-03 | Amouyal Philippe | Option exercise | 89K | — |
| 2026-06-03 | DEBBANE RAYMOND | Option exercise | 89K | — |
| 2026-04-30 | Artal Participations S.a r.l. | Option exercise | 20.4M | — |
| 2026-02-28 | McDermott Wendy | Option exercise | 28K | — |
| 2026-02-28 | McDermott Wendy | Option exercise | 52K | — |
| 2026-02-28 | McDermott Wendy | Option exercise | 144K | — |
| 2026-02-28 | McDermott Wendy | Tax withheld | 68K | $1.47 |
| 2026-02-28 | Martens Rachel Yap | Option exercise | 67K | — |
| 2026-02-28 | Martens Rachel Yap | Tax withheld | 36K | $1.47 |
| 2026-02-28 | Granowitz Craig B | Option exercise | 36K | — |
| 2026-02-28 | Granowitz Craig B | Option exercise | 74K | — |
| 2026-02-28 | Granowitz Craig B | Option exercise | 202K | — |
| 2026-02-28 | Granowitz Craig B | Tax withheld | 109K | $1.47 |
| 2026-02-28 | Gopinathan Suma | Option exercise | 14K | — |
| 2026-02-28 | Gopinathan Suma | Option exercise | 20K | — |
| 2026-02-28 | Gopinathan Suma | Option exercise | 66K | — |
| 2026-02-28 | Gopinathan Suma | Tax withheld | 24K | $1.47 |
| 2026-02-28 | DeFrancesco Lisa | Option exercise | 25K | — |
| 2026-02-28 | DeFrancesco Lisa | Option exercise | 128K | — |
| 2026-02-28 | DeFrancesco Lisa | Tax withheld | 75K | $1.47 |
| 2026-02-28 | Crum Brian T | Option exercise | 33K | — |
| 2026-02-28 | Crum Brian T | Option exercise | 69K | — |
| 2026-02-28 | Crum Brian T | Option exercise | 170K | — |
| 2026-02-28 | Crum Brian T | Tax withheld | 105K | $1.47 |
| 2026-02-28 | Coiante Scott M | Option exercise | 160K | — |
| 2026-02-28 | Coiante Scott M | Tax withheld | 55K | $1.47 |
| 2026-02-28 | Exton Michael | Option exercise | 503K | — |
| 2026-02-28 | Exton Michael | Tax withheld | 205K | $1.47 |
| 2026-02-25 | DEBBANE RAYMOND | Buy | 2.0K | $1.49 |
| 2026-02-23 | DEBBANE RAYMOND | Buy | 100K | $1.47 |
| 2026-02-20 | DEBBANE RAYMOND | Buy | 100K | $1.48 |
| 2026-02-19 | DEBBANE RAYMOND | Buy | 50K | $1.44 |
| 2026-02-18 | DEBBANE RAYMOND | Buy | 134K | $1.32 |
| 2026-02-17 | Artal Participations S.a r.l. | Grant | 41K | $65.00 |
| 2026-02-17 | DEBBANE RAYMOND | Buy | 77K | $1.31 |
| 2026-02-13 | DEBBANE RAYMOND | Buy | 58K | $1.31 |
| 2026-02-02 | Invus Global Management, LLC | Grant | 18.6M | $1.30 |
| 2026-02-02 | Invus Global Management, LLC | Grant | 3.8M | $1.30 |
| 2026-02-02 | Invus Global Management, LLC | Buy | 1.5M | $1.30 |
| 2026-02-02 | Invus Global Management, LLC | Grant | 367K | $65.00 |
| 2025-05-13 | BARKER SAM L | Option exercise | 37K | — |
| 2025-05-13 | SOBECKI CHRISTOPHER J | Option exercise | 37K | — |
| 2025-05-13 | Amouyal Philippe | Option exercise | 37K | — |
| 2025-05-13 | DEBBANE RAYMOND | Option exercise | 37K | — |
| 2025-05-13 | Swain Judith L | Option exercise | 37K | — |
| 2025-05-13 | Sullivan Diane E. | Option exercise | 37K | — |
| 2025-02-28 | Granowitz Craig B | Option exercise | 74K | — |
| 2025-02-28 | Granowitz Craig B | Tax withheld | 65K | $0.67 |
| 2025-02-28 | DeFrancesco Lisa | Option exercise | 25K | — |
| 2025-02-28 | DeFrancesco Lisa | Tax withheld | 9.1K | $0.67 |
| 2025-02-28 | Crum Brian T | Option exercise | 26K | — |
| 2025-02-28 | Crum Brian T | Option exercise | 33K | — |
| 2025-02-28 | Crum Brian T | Option exercise | 69K | — |
| 2025-02-28 | Crum Brian T | Tax withheld | 46K | $0.67 |
| 2025-02-28 | Alexander Kristen | Option exercise | 11K | — |
| 2025-02-28 | Alexander Kristen | Option exercise | 16K | — |
| 2025-02-28 | Alexander Kristen | Option exercise | 20K | — |
| 2025-02-28 | Alexander Kristen | Tax withheld | 18K | $0.67 |
| 2025-02-28 | McDermott Wendy | Option exercise | 19K | — |
| 2025-02-28 | McDermott Wendy | Option exercise | 28K | — |
| 2025-02-28 | McDermott Wendy | Option exercise | 52K | — |
| 2025-02-28 | McDermott Wendy | Tax withheld | 30K | $0.67 |
| 2025-02-28 | MAIN ALAN J | Option exercise | 26K | — |
| 2025-02-28 | MAIN ALAN J | Option exercise | 33K | — |
| 2025-02-28 | MAIN ALAN J | Option exercise | 68K | — |
| 2025-02-28 | MAIN ALAN J | Tax withheld | 43K | $0.67 |
| 2025-02-28 | Granowitz Craig B | Option exercise | 28K | — |
| 2025-02-28 | Granowitz Craig B | Option exercise | 36K | — |
All non-derivative Form 4 activity (SEC), newest first.
Supply chain
Customers (1)
Suppliers (0)
Named in the 10-K; linked when we track them.
Notable events (8-K)
| Date | Items | |
|---|---|---|
| 2026-05-07 | ResultsExhibits | filing ↗ |
| 2026-05-06 | Material agreementDebt obligation3.02Reg FDExhibits | filing ↗ |
| 2026-04-30 | Material agreement3.025.03Shareholder voteExhibits | filing ↗ |
| 2026-03-05 | ResultsExhibits | filing ↗ |
| 2026-02-02 | Material agreement3.023.035.03Reg FDExhibits | filing ↗ |
| 2026-01-29 | ResultsReg FDOtherExhibits | filing ↗ |
| 2025-11-10 | Other | filing ↗ |
| 2025-11-06 | OtherExhibits | filing ↗ |
Recent filings
| Form | Filed | Period | Accession |
|---|---|---|---|
| 8-K | 2026-05-07 | 2026-05-07 | 0001062822-26-000098 ↗ |
| 10-Q | 2026-05-07 | 2026-03-31 | 0001062822-26-000101 ↗ |
| 8-K | 2026-05-06 | 2026-05-04 | 0001062822-26-000094 ↗ |
| 8-K | 2026-04-30 | 2026-04-30 | 0001062822-26-000065 ↗ |
| 10-K | 2026-03-05 | 2025-12-31 | 0001062822-26-000050 ↗ |
| 8-K | 2026-03-05 | 2026-03-05 | 0001062822-26-000047 ↗ |
| 8-K | 2026-02-02 | 2026-01-29 | 0001193125-26-033793 ↗ |
| 8-K | 2026-01-29 | 2026-01-29 | 0001193125-26-029514 ↗ |
| 8-K | 2025-11-10 | 2025-11-06 | 0001193125-25-274383 ↗ |
| 8-K | 2025-11-06 | 2025-11-06 | 0001193125-25-270020 ↗ |
| 10-Q | 2025-11-06 | 2025-09-30 | 0001062822-25-000054 ↗ |
| 8-K | 2025-11-06 | 2025-11-06 | 0001062822-25-000049 ↗ |