Lexicon Pharmaceuticals (LXRX) to Present Phase 2b Pilavapadin Data

Lexicon Pharmaceuticals, Inc. (NASDAQ:LXRX) is one of the 10 Best Penny Stocks to Buy and Hold Under $5.

On April 16, 2026, Lexicon Pharmaceuticals, Inc. (NASDAQ:LXRX) announced that results from its PROGRESS Phase 2b study of pilavapadin in diabetic peripheral neuropathic pain (DPNP) will be presented on April 22 at the American Academy of Neurology Annual Meeting in Chicago. The data support the selection of the 10 mg dose for Phase 3 development. In the study, pilavapadin 10 mg demonstrated a nominally significant reduction in Average Pain at Week 8 versus placebo, along with consistent improvements in Worst and Least Daily Pain based on the Brief Pain Inventory-DPN. The treatment was generally well tolerated, with completion rates similar to placebo and few discontinuations due to adverse events.

At the same conference, the company will also present preclinical findings evaluating pilavapadin’s impact on spasticity-related endpoints in models of multiple sclerosis and spinal cord injury.

Last month, Lexicon and Novo Nordisk announced the initiation of a Phase 1 study for LX9851, an oral non-incretin candidate targeting obesity and related metabolic disorders. The program follows a March 2025 exclusive licensing agreement granting Novo Nordisk global rights to develop and commercialize the asset. Lexicon has received a second $10M milestone payment tied to initial dosing in the study and remains eligible for an additional $10M milestone later in 2026, as well as up to $1B in total milestone payments and tiered royalties on future sales.

Lexicon Pharmaceuticals, Inc. (NASDAQ:LXRX) focuses on developing therapies for a range of diseases, including metabolic and neurological conditions.

READ NEXT: 33 Stocks That Should Double in 3 Years and Cathie Wood 2026 Portfolio: 10 Best Stocks to Buy. 

Disclosure: None. Follow Insider Monkey on Google News.