Lexicon Banks Third $10M Milestone from Novo Nordisk as LX9851 Advances in Phase 1
LXRX has more than doubled off its 52-week low of $1.03.
Summary
Lexicon earned a third $10 million milestone payment from Novo Nordisk in 2026, triggered by a key patient dosing milestone in the Phase 1 study of LX9851, an oral ACSL5 inhibitor for obesity. This brings total milestone payments under the collaboration to $75 million of a potential $1 billion, plus tiered royalties. The payment is non-dilutive cash that strengthens Lexicon's balance sheet as it advances its own pipeline, including the pivotal SONATA-HCM study. Phase 1 completion for LX9851 is expected in Q1 2027, with further development milestones possible.
At the time of this announcement, LXRX was trading at $2.38 on NASDAQ in the Life Sciences sector, with a market capitalization of approximately $1B. The 52-week trading range was $1.03 to $2.68. This news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: GlobeNewswire.