Skip to main content
Premium Trial:

Request an Annual Quote

Lexicon Posts Dip in Q2 Revenues, Greater R&D Spending, Widened Net Loss

NEW YORK, July 31 - Lexicon Genetics today reported a slight decrease in second-quarter revenues atop a mild increase in R&D spending and a widened net loss.

 

Total revenue for the period ended June 30 slipped to $8.9 million from $9.4 million one year ago. The revenue reflected a decrease in receipts from subscription and license fees, which shrank to $4.3 million from $5 million in the second quarter 2002, and a jump in income from collaborative research, which grew to $4.6 million from $4.3million year over year.

 

Second-quarter R&D spending grew nine percent, to $20.8 million from $19 million in the year-ago period, Lexicon said. The firm stressed that the increase reflected greater spending in drug-discovery programs.

 

As a result, net loss widened to $17.6 million, or $.34 per share, from $14.9 million, or $.29 per share, in the second quarter 2002.

 

Lexicon said it had around $95.6 million in cash and investments.

The Scan

Study Reveals Details of SARS-CoV-2 Spread Across Brazil

A genomic analysis in Nature Microbiology explores how SARS-CoV-2 spread into, across, and from Brazil.

New Study Highlights Utility of Mutation Testing in Anaplastic Thyroid Cancer

Genetic mutations in BRAF and RAS are associated with patient outcomes in anaplastic thyroid carcinoma, a new JCO Precision Oncology study reports.

Study Points to Increased Risk of Dangerous Blood Clots in COVID-19 Patients

An analysis in JAMA Internal Medicine finds that even mild COVID-19 increases risk of venous thromboembolism.

Y Chromosome Study Reveals Details on Timing of Human Settlement in Americas

A Y chromosome-based analysis suggests South America may have first been settled more than 18,000 years ago, according to a new PLOS One study.