v3.25.1
Segment Information
 3 Months Ended
Mar. 31, 2025
Segment Reporting [Abstract]  
Segment Information Segment Information
Lexicon operates as a single reportable segment, primarily focusing on the discovery, development and commercialization of pharmaceutical products for the treatment of human disease. Substantially all of the Company’s revenues have been derived from drug discovery alliances, target validation collaborations for the development and, in some cases, analysis of the physiological effects of genes altered in knockout mice, technology licenses, subscriptions to its databases, product sales, government grants and contracts and compound library sales, as well as from commercial sales of its approved drug product.

The chief operating decision maker (“CODM”) is the Company’s chief executive officer (“CEO”). The CEO manages and allocates resources on a total company basis by assessing the overall level of resources available and how to best deploy these resources across research and development projects in line with the Company’s long-term company-wide strategic goals.

The CEO evaluates single-segment consolidated financial information against budget for purposes of making operating decisions, planning and forecasting for future periods, and deciding the level of investment in the Company’s various operating activities and other capital allocation activities. The CODM assesses financial performance based on consolidated net income (loss) (as reported on the consolidated statement of comprehensive loss). The CEO also uses consolidated cash and cash equivalents and short-term investments (which can be found on our Consolidated Balance Sheets) as a measure of segment assets for allocating resources.

Summary of segment net loss, including segment expenses were as follows:

Three Months Ended March 31,
20252024
(in thousands)
Revenues:
Net product revenue$1,262 $1,093 
Royalties and other revenue— 37 
Total revenues1,262 1,130 
Operating expenses:
Cost of sales30 31 
Research and development13,609 12,777 
Sales and marketing2,674 22,681 
General and administrative7,826 6,635 
Other segment expense (1)
2,802 4,339 
Total operating expenses26,941 46,463 
Loss from operations(25,679)(45,333)
Interest and other expense(1,835)(4,948)
Interest income and other, net2,219 1,884 
Net loss$(25,295)$(48,397)
(1) For the three months ended March 31, 2025 and 2024, other segment expense primarily includes, among other items, stock compensation of $1.6 million related to research and development personnel for each period; $0.04 million and $0.8 million related to sales and marketing personnel, respectively; and $1.4 million and $1.9 million related to general and administrative personnel.