Skip to main content
Premium Trial:

Request an Annual Quote

Lexicon Posts Weak Q4 Revenue Growth, Widened Loss

NEW YORK, Feb. 20 - Lexicon Genetics today reported a slight dip in fourth-quarter revenue, increased R&D spending, and a jump in net losses.

 

Total revenue for the period ended Dec. 31 decreased to $10.1 million from $10.3 million one year ago. However, though receipts from subscription and license fees more than doubled to $6.2 million from $3.0 million, revenue growth was retarded due to Lexicon's decision last year no longer to sell its compound libraries but rather use them for internal research. That market brought in $3.4 million in revenue during the fourth quarter 2001. It generated just $5,000 in revenue during the current fourth quarter.

 

Fourth-quarter R&D spending grew to $19.2 million from $17.8 million year over year. As a result, net loss increased to $13.9 million, or $.26 per share, from $11 million, or $.21 per share, for the same period one year ago, the company said.

 

Lexicon said it had roughly $57.7 million in cash and investments as of Dec. 31.

 

Click here for more information.

The Scan

More Boosters for US

Following US Food and Drug Administration authorization, the Centers for Disease Control and Prevention has endorsed booster doses of the Moderna and Johnson & Johnson SARS-CoV-2 vaccines, the Washington Post writes.

From a Pig

A genetically modified pig kidney was transplanted into a human without triggering an immune response, Reuters reports.

For Privacy's Sake

Wired reports that more US states are passing genetic privacy laws.

Science Paper on How Poaching Drove Evolution in African Elephants

In Science this week: poaching has led to the rapid evolution of tuskless African elephants.