LEXICON PHARMACEUTICALS, INC.
For the period ended Dec 31, 2025. Filed Mar 5, 2026.
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FY2025 · Filed Mar 5, 2026
LXRX$1.86+2.2%Stored close · as of Nov 10, 2026
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Item 8. Consolidated Statements of Cash Flows
Consolidated Statements of Cash Flows
(In thousands)
| Year Ended December 31, | |||
|---|---|---|---|
| 2025 | 2024 | 2023 | |
| Cash flows from operating activities: | |||
| Net loss | $(50,341) | $(200,403) | $(177,119) |
| Adjustments to reconcile net loss to net cash used in operating activities: | |||
| Depreciation and amortization | 621 | 534 | 554 |
| Stock-based compensation | 12,517 | 13,499 | 14,340 |
| Amortization of debt-related costs | 1,700 | 1,845 | 1,774 |
| Accretion of marketable securities purchased at a discount | (3,712) | (9,305) | (5,617) |
| Other non-cash adjustments | (1,742) | 812 | 1,512 |
| Changes in operating assets and liabilities: | |||
| Decrease (increase) in accounts receivable | 1,089 | (2,463) | (982) |
| (Increase) decrease in inventories | (50) | 150 | (381) |
| Decrease (increase) in prepaid expenses and other current assets | 1,532 | 598 | (2,899) |
| Decrease in other long-term assets | 757 | 1,152 | 467 |
| (Decrease) increase in accounts payable and other liabilities | (30,222) | 14,801 | 6,454 |
| Net cash used in operating activities | (67,851) | (178,780) | (161,897) |
| Cash flows from investing activities: | |||
| Purchases of property and equipment | — | (1,031) | (470) |
| Purchases of investments | (139,838) | (328,747) | (223,343) |
| Maturities of investments | 252,858 | 314,400 | 173,870 |
| Net cash provided by (used in) investing activities | 113,020 | (15,378) | (49,943) |
| Cash flows from financing activities: | |||
| Proceeds from issuance of common stock, net of fees | — | — | 138,823 |
| Proceeds from issuance of common stock for equity incentive plans | 73 | 64 | — |
| Proceeds from issuance of preferred stock, net of fees | — | 241,322 | — |
| Payments for tax withholding on share-based compensation vesting | (572) | (1,730) | (824) |
| Repayment of debt borrowings | (48,000) | — | — |
| Proceeds from debt borrowings, net of fees | — | — | 49,961 |
| Other debt financing fees | — | (1,307) | — |
| Net cash (used in) provided by financing activities | (48,499) | 238,349 | 187,960 |
| Net (decrease) increase in cash, cash equivalents, and restricted cash | (3,330) | 44,191 | (23,880) |
| Cash, cash equivalents, and restricted cash at beginning of year | 66,656 | 22,465 | 46,345 |
| Cash, cash equivalents, and restricted cash at end of year | $63,326 | $66,656 | $22,465 |
| Supplemental disclosure of cash flow information: | |||
| Cash paid for interest | $8,330 | $12,919 | $10,057 |
| Supplemental disclosure of noncash investing and financing activities: | |||
| Right-of-use assets obtained in exchange for operating lease obligations | $3,243 | $— | $— |
| Issuance of equity-classified warrants | $— | $— | $307 |
| Accrual of deferred financing costs | $— | $— | $250 |
| Conversion of preferred stock to common stock | $— | $115 | $— |
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