Lexicon (LXRX) Reports $21.1M Q1 Revenue Driven by Novo Nordisk Milestones

​Lexicon Pharmaceuticals Inc. (NASDAQ:LXRX) is one of the best fast growing penny stocks to buy right now. On May 7, Lexicon Pharmaceuticals reported Q1 2026 revenue of $21.1 million, a significant increase from $1.3 million in the prior year, driven by $20.0 million in development milestones from its LX9851 partnership with Novo Nordisk. The company achieved a sharp reduction in net loss to $1.0 million, compared to $25.3 million in Q1 2025, benefiting from lower research and marketing expenses.

Lexicon ended the quarter with a strengthened balance sheet featuring $199.7 million in cash and investments, further supported by a new $100 million loan facility from Hercules Capital. On the clinical front, the company is progressing toward several major milestones, including the anticipated mid-2026 completion of enrollment for its Phase 3 SONATA-HCM study of sotagliflozin. The company also expects to resubmit its NDA for ZYNQUISTA in type 1 diabetes by mid-2026, with potential regulatory approval later this year.Is Immix Biopharma (IMMX) One of the Best Performing NASDAQ Stocks?

Additionally, partner Novo Nordisk has initiated Phase 1 clinical development of LX9851 for obesity, a milestone that earned Lexicon $10 million in March with the potential for another payment later in 2026. Beyond its cardiometabolic pipeline, ​Lexicon Pharmaceuticals Inc. (NASDAQ:LXRX) is preparing for Phase 3 development of pilavapadin (LX9211) for diabetic peripheral neuropathic pain after the FDA raised no objections to its proposed registrational study design.

​Lexicon Pharmaceuticals Inc. (NASDAQ:LXRX) is a biopharmaceutical company focused on the discovery, development, and commercialization of pharmaceutical products to treat human disease.

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