Microsoft strongly encourages users to switch to a different browser than Internet Explorer as it no longer meets modern web and security standards. Therefore we cannot guarantee that our site fully works in Internet Explorer. You can use Chrome or Firefox instead.

Why Lexicon Pharmaceuticals Stock Soared Today

TheMotleyFool

0 0

Why Lexicon Pharmaceuticals Stock Soared TodayPhoto, wide shot, wide-angle lens, Mental health care service, Midday, harsh overhead sunlight, directional sunlightt, photo by Art Wolfe: https://img.midjourneyapi.xyz/temp/7ce3b930-5e2a-4215-b686-0ad0eb0b922a.png

Shares of Lexicon Pharmaceuticals (NASDAQ: LXRX) have soared today, closing out the session with gains of 12%, after the company reported first-quarter earnings results. The biotech beat expectations for both the top and bottom lines.

Revenue in the first quarter declined 13% to $8 million, which was slightly ahead of the consensus estimate of $7.8 million. That translated into a net loss of $66.6 million, or $0.63 per share. Analysts were modeling for $0.69 per share in red ink. The biotech company's Xermelo, which treats carcinoid syndrome diarrhea, is seeing growth and represents the vast majority of revenue.

Image source: Getty Images.

Source Fool.com

Like: 0

LXRX

Share