Lexicon Pharmaceuticals Inc. reported its financial results for the first quarter of 2025. The company recorded a net loss of $25.3 million, or $0.07 per share, compared to a net loss of $48.4 million, or $0.20 per share, in the same period in 2024. Selling, general, and administrative expenses decreased to $11.6 million from $32.1 million in the first quarter of the previous year, reflecting reduced marketing efforts and strategic repositioning. As of March 31, 2025, Lexicon had $194.8 million in cash and investments, down from $238.0 million at the end of 2024. The decrease includes severance payments related to the strategic repositioning in late 2024. Significant business updates include the successful completion of the Phase 2b PROGRESS study, which identified 10 mg pilavapadin as the appropriate dose for Phase 3 development for diabetic peripheral neuropathic pain. The company also announced an exclusive license agreement with Novo Nordisk for LX9851, with IND-enabling studies on track for completion in 2025. Additionally, Lexicon is advancing its Phase 3 SONATA-HCM study to demonstrate the efficacy and safety of sotagliflozin in hypertrophic cardiomyopathy. As Lexicon transitions to an R&D-focused organization, it has achieved a reduction in total operating expenses by approximately 40 percent.