v3.25.2
Segment Information
 6 Months Ended
Jun. 30, 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 income (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 income (loss), including segment expenses were as follows:

Three Months Ended June 30,Six Months Ended June 30,
2025202420252024
(in thousands)(in thousands)
Revenues:
Net product revenue$1,322 $1,617 $2,584 $2,710 
Licensing revenue27,544 — 27,544 — 
Royalties and other revenue— 30 — 67 
Total revenues28,866 1,647 30,128 2,777 
Operating expenses:
Cost of sales33 166 63 197 
Research and development14,127 15,964 27,736 28,742 
Sales and marketing1,233 28,982 3,908 51,662 
General and administrative6,466 6,839 14,292 13,474 
Other segment expense (1)
3,271 5,050 6,072 9,389 
Total operating expenses25,130 57,001 52,071 103,464 
Income (loss) from operations3,736 (55,354)(21,943)(100,687)
Interest and other expense(2,318)(2,211)(4,153)(7,159)
Interest income and other1,834 4,136 4,053 6,020 
Net income (loss)$3,252 $(53,429)$(22,043)$(101,826)
(1) For the three and six months ended June 30, 2025 and 2024, other segment expense primarily includes, among other items, stock compensation of $1.6 million, $1.7 million, $3.2 million, and $3.3 million, respectively, related to research and development personnel; $0.01 million, $1.2 million, $0.05 million , and $2.0 million, respectively, related to sales and marketing personnel; and $1.6 million, $2.0 million, $3.0 million, and $3.9 million, respectively, related to general and administrative personnel.