Skip to main content

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

UK Funds to Stay Ahead of Variants

The UK has announced a further £29.3 million to stay on top of SARS-CoV-2 variants, the Guardian reports.

Push for Access

In a letter, researchers in India seek easier access to COVID-19 data, Science reports.

Not as Cold

Late-stage trial results are expected soon for an RNA-based vaccine that could help meet global demand as it does not require very cold storage, the New York Times writes.

Genome Research Papers on Microbes' Effects on Host Transfer RNA, Honeybee Evolution, Single-Cell Histones

In Genome Research this week: influence of microbes on transfer RNA patterns, evolutionary relationships of honeybees, and more.