Latest news with #Lexicon
Yahoo
21-05-2025
- Business
- Yahoo
Lexicon Pharmaceuticals, Inc. (LXRX): Analysts See 285% Upside Potential
We recently published an article titled . Lexicon Pharmaceuticals, Inc. (NASDAQ:LXRX) was one of the stocks that was covered in that article. Wall Street analysts believe LXRX has a 285% upside potential over the next 12 months. A laboratory researcher in a white coat, closely examining a microscope. Lexicon Pharmaceuticals, Inc. (NASDAQ:LXRX) is a biopharmaceutical company with a pioneering approach to gene science-based medicines. It focuses on developing therapies for neuropathic pain and cardiometabolic diseases, addressing critical unmet medical needs. Lexicon employs precision science to create innovative treatments that aim to significantly improve patient lives. Among its notable products is Sotagliflozin, marketed under the brand name INPEFA, which is specifically designed to reduce cardiovascular risks such as heart failure and type 2 diabetes. This drug represents a substantial advancement in the management of complex cardiovascular conditions. Lexicon Pharmaceuticals, Inc. (NASDAQ:LXRX) distinguishes itself through its unique focus on creating orally-delivered small molecule drugs. These therapies are specifically engineered to target diseases in a way that enhances convenience and accessibility for patients. The company is committed to developing treatments that not only improve health outcomes but also simplify the treatment process for individuals grappling with debilitating conditions. Additionally, Lexicon has fostered strategic collaborations with renowned entities like Viatris Inc. and Bristol-Myers Squibb. These partnerships aim to bolster its drug development capabilities while extending its reach into specialized markets. The company's collaborative efforts enhance its ability to innovate and deliver differentiated therapeutic options in highly competitive fields. A testament to its success and strategic decisions, Lexicon Pharmaceuticals, Inc. (NASDAQ:LXRX) latest earnings report for Q1 of 2025 highlighted a revenue of $1.26 million (11.68% higher YoY), surpassing analyst estimates. Over the course of the financial year 2024, the company generated an impressive $97.3 million in revenue, largely driven by the commercial sales of INPEFA, its flagship heart failure treatment. Analysts on Wall Street remain cautiously optimistic, with 50% recommending a 'Hold' strategy for the stock. However, the consensus average share price over the next twelve months is projected to be $2.60, offering an upside potential of 285.81%. Overall, Lexicon Pharmaceuticals, Inc. (NASDAQ:LXRX) ranks 9th on our list of 13 Best Multibagger Stocks to Invest in Now. While we acknowledge the potential of LXRX to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than LXRX and that has 100x upside potential, check out our report about this cheapest AI stock. READ NEXT: 10 Best Low Volatility Stocks to Buy Now and Starter Stock Portfolio: 12 Safe Stocks to Buy Disclosure: None. This article is originally published at Insider Monkey. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
19-05-2025
- Automotive
- Yahoo
Emobi: why your next EV might never need an app to charge
In our latest episode of Lexicon, we sat down with Lin Sun Fa, CEO of Emobi and a lifelong cybersecurity enthusiast, to discuss how AI, digital identity, and data refinement models are converging to create the future of EV charging. As electric vehicles (EVs) become more mainstream, the infrastructure needed to support them must evolve just as rapidly. Charging remains one of the most significant barriers to mass EV adoption, not only because of accessibility and availability, but also because of the fragmented experience drivers face when moving between different networks. Enter Emobi, a company that aims to make EV charging as seamless and secure as charging your phone. Also, subscribe to IE+ for premium insights and exclusive content! 'We deliver seamless, secure EV charging through a unified infrastructure. Just plug in, and charging starts automatically,' Fa explained. At its core, Emobi offers a universal backend system that connects all stakeholders in the EV charging ecosystem, including charging networks, automakers, fleet operators, and app developers. Rather than forcing companies to overhaul existing hardware or firmware, Emobi introduces a layer of security and automation allowing plug-and-play functionality across systems. 'We unify a fragmented charging landscape into one secure, automated backbone for the industry,' he added. This vision is embodied in Emobi's flagship technology, JustPlug, a cloud-based alternative to traditional 'Plug and Charge' systems. While well-known, Plug and Charge is limited by its reliance on specific hardware and firmware. In contrast, JustPlug moves that handshake process to the cloud, enabling secure authentication and authorization even across outdated or mismatched systems. 'Eighty percent of vehicles and chargers today don't support Plug and Charge. We created JustPlug to work with what's already out there without needing new hardware,' he told us. JustPlug leverages digital certificates—the same asymmetric encryption technology that underpins HTTPS protocols on the web. These certificates are installed in vehicles and chargers to create unique digital identities, ensuring that every connection is authenticated and encrypted. 'Digital certificates are the most secure technology we have—they're what makes HTTPS work, and now they're securing your EV charging,' he said. 'It's the most secure EV charging experience you can get—without compromising convenience,' he added. Beyond security, however, what makes Emobi particularly exciting is its use of AI and data refinement. While the concept of smart charging isn't new, Emobi brings a sophisticated data model to the table, aiming to eliminate one of the most frustrating issues in the EV world: the inaccurate status of charging stations. 'Sometimes a charger shows as available, but it's broken. Drivers spend the last mile of their battery to get there, only to find they're stuck,' he said. Emobi addresses this through a layered enrichment, refinement, and transformation approach. Their AI systems pull in data not just from the network itself, but also from user feedback, usage history, and even behavioral trends to produce reliability scores. 'We turn raw, unreliable charger data into real-time reliability scores—so drivers know what to trust,' he added. This same intelligence is used to help charging network operators optimize station placement—a growing concern as EV adoption accelerates. While it may seem intuitive to simply co-locate chargers with existing fuel stations, Lin argues that this misses critical factors like grid readiness, accessibility, and even vandalism risk. 'More data means better decisions. We help operators avoid the scattershot approach and make smarter infrastructure investments,' he told us. This predictive power extends to energy management and future-ready applications like Vehicle-to-Grid (V2G) or Vehicle-to-Home (V2H) technologies. With the proper cryptographic protocols, EVs can become part of the grid, not just consumers, but as active energy assets. 'In the future, cars, chargers, and the grid will all identify each other securely to share energy. That's where we're headed,' he added. Though often associated with blockchain, Emobi's approach is based on targeted, efficient cryptographic protocols tailored specifically for the charging ecosystem. 'It's not blockchain per se, but both rely on cryptography. We use what's necessary to get the job done right and securely,' he said. While Emobi is currently focused on the North American market, its roadmap is global. As regulations evolve and EV adoption grows in Europe and Asia, Lin sees Emobi's model scaling effortlessly. 'We're cutting our teeth in North America, but yes—Europe is mature, and Asia is emerging fast. Expansion is inevitable,' he added. Still, regulatory hurdles remain challenging, especially with outdated standards that assume hardware-based authentication. For example, ISO 15118, the backbone of Plug and Charge, has been around since 2014 but has seen slow adoption due to its complexity and cost. Emobi's cloud-based model is a clever workaround that maintains compliance while removing bottlenecks. 'Nobody wants to pay more money to rip out and replace hardware. JustPlug meets the standard, without the friction,' he told us. Collaboration is key. Emobi works closely with automakers and charging networks to pilot new integrations. Adoption is growing because, as Lin points out, everyone wants to make charging as painless as possible for drivers and providers. 'It's in everyone's interest to make EV charging seamless. And we're giving them a way to do that without starting from scratch,' he added. As for the long-term vision, Lin paints a picture of universal compatibility and invisible tech. 'In the future, you'll buy any EV, go to any charger, and simply plug in. No apps. No hassle. That's the Emobi vision,' he told us. Whether it's a connected grid, a smart city, or even—yes—flying EVs, Emobi's mission is to become the secure infrastructure that underpins it all. 'Everything is an energy asset today. The future is about secure communication between them, and we're building the platform to make that happen,' he said. For a world still figuring out how to fuel its electric revolution, Emobi is proving that the solution isn't always new hardware or flashy interfaces—it's smart, secure, and seamless systems that work quietly in the background.
Medscape
17-05-2025
- Health
- Medscape
Sotagliflozin Lowers A1c, Weight Even in Kidney Impairment
ORLANDO, Florida — Sotagliflozin (Inpefa) reduces A1c and body weight in people with type 2 diabetes, although the degree of improvement was attenuated in those with moderate-to-severe chronic kidney disease (CKD). "These findings highlight the importance of considering the effect of kidney function to help inform and tailor treatment decision-making for patients with diabetes and CKD," Belinda Hardin, PharmD, senior director of medical communications and head of field medical at Lexicon, said at the American Association of Clinical Endocrinology (AACE) Annual Meeting 2025. Sotagliflozin, a novel agent that inhibits sodium-glucose cotransporter (SGLT) 1 as well as SGLT2, was approved by the US Food and Drug Administration (FDA) in 2023 for reducing the risks of cardiovascular death, hospitalization for heart failure, and urgent heart failure visits in patients with heart failure, and for preventing these same events in patients with type 2 diabetes, CKD, and other cardiovascular disease risk factors. The drug is not indicated for diabetes. In 2019, the FDA declined to approve sotagliflozin as adjunctive treatment for type 1 diabetes due to concerns about the increased risk for diabetic ketoacidosis. And in 2024, the agency again turned down Lexicon's application for sotagliflozin as a treatment for people with type 1 diabetes and CKD. The company hasn't sought an indication for sotagliflozin for type 2 diabetes. Two SGLT2 inhibitors, dapagliflozin (Farxiga) and empagliflozin (Jardiance), have indications for preventing heart failure hospitalizations in patients with heart failure as well as approvals for type 2 diabetes and preservation of renal function. The new findings, from a meta-analysis of eight double-blind, randomized, placebo-controlled trials, suggest that despite the lack of an indication for treatment of diabetes or obesity, sotagliflozin does result in A1c and body weight lowering across all levels of kidney function. This study is a companion to a previous similarly designed analysis showing that the effects of sotagliflozin on systolic blood pressure were maintained in patients with type 2 diabetes regardless of kidney function. Those findings were presented at the American Heart Association Scientific Session 2024, Hardin told Medscape Medical News . Asked for comment, session moderator Sara E. Lubitz, MD, associate professor of medicine and endocrine program director at Rutgers Robert Wood Johnson Medical School, New Brunswick, New Jersey, told Medscape Medical News : "This opens my mind more that if there is a heart failure patient with diabetes and we're looking for sugar reduction as well as heart failure protection, [sotagliflozin] is probably just as efficacious as the SGLT2 have the indication for glucose-lowering, but we're not pulling it out as a first-line [treatment]." All eight trials in the meta-analysis had similar designs and timeframes and were at least 26 weeks in duration. The patient-level intent-to-treat population data were pooled. Patients were divided into three subgroups based on kidney function: Subgroup 1: estimated glomerular filtration rate (eGFR) ≥ 60 mL/min/1.73m 2 (N = 2577) (N = 2577) Subgroup 2: eGFR ≥ 30 to < 60 mL/min/1.73m 2 (N = 1046) (N = 1046) Subgroup 3: eGFR < 30 mL/min/1.73m2 (N = 271) Mean patient ages were 60.2 years in subgroup 1, versus 69.3 and 67.1 years, respectively, in subgroups 2 and 3. The treatment groups were sotagliflozin 400 mg (N = 1728), sotagliflozin 200 mg (N = 728), or placebo (N = 1440). Overall, compared with placebo, A1c was significantly lowered with 200-mg sotagliflozin (less mean squares [LMS] difference, –0.33) and 400 mg (LMS difference, –0.48). Body weight was also reduced (LMS difference, –1.48 and –1.66, respectively). The effects on both A1c and body weight of both doses were statistically significant for the overall study population and subgroup 1 (normal kidney function). In subgroup 2, the effect on body weight remained significant for both doses, but only the 400-mg dose effect was significant for lowering A1c. The 400-mg dose produced significant reductions in all kidney function subgroups for both measures except A1c reduction in subgroup 3, although there was still benefit. Hardin told Medscape Medical News , "This provides us supplemental information with regard to heart failure outcomes, and not directly focusing on whether there's an additive benefit in terms of A1c or an additive lowering of A1c in patients with chronic kidney disease." Asked about future plans for sotagliflozin, she replied, "I don't think at this point you'll likely see sotagliflozin before the FDA for a glucose-lowering indication in type 2 patients. The file remains open for type 1 at the FDA, so that work continues." Hardin is an employee of Lexicon. Lubitz is a speaker for Ascendis and has received clinical trial research funding from Ascendis, Chiasma, and Takeda.
Yahoo
13-05-2025
- Business
- Yahoo
Lexicon Pharmaceuticals (LXRX) Reports Q1 Loss, Lags Revenue Estimates
Lexicon Pharmaceuticals (LXRX) came out with a quarterly loss of $0.07 per share versus the Zacks Consensus Estimate of a loss of $0.10. This compares to loss of $0.20 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of 30%. A quarter ago, it was expected that this drugmaker would post a loss of $0.11 per share when it actually produced a loss of $0.09, delivering a surprise of 18.18%. Over the last four quarters, the company has surpassed consensus EPS estimates three times. Lexicon , which belongs to the Zacks Medical - Biomedical and Genetics industry, posted revenues of $1.26 million for the quarter ended March 2025, missing the Zacks Consensus Estimate by 23.52%. This compares to year-ago revenues of $1.13 million. The company has topped consensus revenue estimates just once over the last four quarters. The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call. Lexicon shares have lost about 8.8% since the beginning of the year versus the S&P 500's decline of -0.6%. While Lexicon has underperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock? There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately. Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions. Ahead of this earnings release, the estimate revisions trend for Lexicon: favorable. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #2 (Buy) for the stock. So, the shares are expected to outperform the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here. It will be interesting to see how estimates for the coming quarters and current fiscal year change in the days ahead. The current consensus EPS estimate is -$0.09 on $2.37 million in revenues for the coming quarter and -$0.37 on $15.43 million in revenues for the current fiscal year. Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Medical - Biomedical and Genetics is currently in the top 35% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1. Alector (ALEC), another stock in the same industry, has yet to report results for the quarter ended March 2025. This biotechnology company is expected to post quarterly loss of $0.43 per share in its upcoming report, which represents a year-over-year change of -13.2%. The consensus EPS estimate for the quarter has been revised 0.7% higher over the last 30 days to the current level. Alector's revenues are expected to be $4.34 million, down 72.7% from the year-ago quarter. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Lexicon Pharmaceuticals, Inc. (LXRX) : Free Stock Analysis Report Alector, Inc. (ALEC) : Free Stock Analysis Report This article originally published on Zacks Investment Research ( Zacks Investment Research Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
13-05-2025
- Business
- Yahoo
Lexicon Pharmaceuticals Reports First Quarter 2025 Financial Results and Provides Business Updates
THE WOODLANDS, Texas, May 13, 2025 (GLOBE NEWSWIRE) -- Lexicon Pharmaceuticals, Inc. (Nasdaq: LXRX), today reported financial results for the three months ended March 31, 2025, and provided an update on key corporate milestones and accomplishments. 'We began 2025 delivering on three of our goals for this year, including most recently an exclusive licensing agreement with Novo Nordisk for LX9851 in obesity and related disorders,' said Mike Exton, Ph.D., Lexicon's chief executive officer and director. 'We also announced topline results for the PROGRESS Phase 2b study of pilavapadin in DPNP and identified the 10 mg dose to move forward into Phase 3 development. We are on track for the next steps in pilavapadin's development, including our end of Phase 2 meeting with FDA. In addition to LX9851 and pilavapadin, in 2025 we plan to build on differentiating evidence of sotagliflozin for heart failure and drive enrollment of our Phase 3 SONATA-HCM study, which aims to demonstrate the efficacy and safety of sotagliflozin in both obstructive and non-obstructive hypertrophic cardiomyopathy (HCM).' 'As our transition to an R&D focused company continues, we have seen a reduction in our total operating expenses of approximately 40 percent,' said Scott Coiante, Lexicon's senior vice president and chief financial officer. 'We will continue to ensure all operational spend in 2025 is optimized to invest in our R&D programs and achieve our strategic imperatives.' First Quarter 2025 Business and Pipeline Highlights Pilavapadin (LX9211) for Diabetic Peripheral Neuropathic Pain (DPNP) Pilavapadin is an orally delivered, small molecule drug candidate for the treatment of DPNP. Pilavapadin has the potential to become the first oral non-opioid drug therapy approved in neuropathic pain in more than 20 years. Topline data from PROGRESS met the company's objective to identify a well-tolerated dose exhibiting meaningful pain reduction that is appropriate to advance into Phase 3 development. In the study, the 10 mg dose arm demonstrated meaningful separation in Average Daily Pain Score (ADPS) from both baseline and placebo and was well-tolerated. The company is moving toward an End of Phase 2 meeting with FDA and targeting initiation of U.S. and ex-U.S. Phase 3 trials in DPNP in 2025, while selecting a future medical meeting for release of additional clinical data later this year. LX9851 for Obesity and Associated Cardiometabolic Disorders LX9851 is a novel, non-incretin oral development candidate that inhibits Acyl-CoA Synthetase 5 (ACSL5) and is in preclinical development for obesity and weight management. In March, Lexicon announced an exclusive licensing agreement for LX9851 with Novo Nordisk. Under the terms of the agreement, Lexicon is eligible to receive up to $1 billion in upfront and development, regulatory and sales milestone payments, including $75 million in upfront and near-term milestone payments, as well as tiered, escalating royalties on net sales of LX9851. Under the agreement, Lexicon is conducting IND-enabling studies in preparation for the initiation of clinical development by Novo Nordisk. Sotagliflozin for Hypertrophic Cardiomyopathy (HCM) Enrollment is underway in SONATA HCM, a pivotal Phase 3 placebo-controlled study with a targeted enrollment of 500 patients with obstructive or nonobstructive hypertrophic cardiomyopathy (HCM). Site initiation in the United States, European Union, and Latin America is well underway to further support the company's trial execution timelines. All target sites are expected to be up and running by Q3. Data and Publications Highlights The company continued to focus on generating clinical data to support differentiation of sotagliflozin, including the most recent publication in The Lancet Diabetes & Endocrinology analyzing the ability of sotagliflozin to reduce the risks of life-threatening cardiovascular outcomes. The findings from the study titled 'Reduction in Major Adverse Cardiovascular Events with Sotagliflozin: A Prespecified Analysis of the SCORED Randomized Trial,' concluded that the ischemic benefit of sotagliflozin on both heart attack (myocardial infarction, or MI) and stroke reduction has not been observed with other SGLT inhibitors. First Quarter 2025 Financial Highlights Revenues: Revenues for the first quarter of 2025 increased to $1.3 million from $1.1 million for the corresponding period in 2024, consisting of product revenues from sales of INPEFA® (sotagliflozin). Research and Development (R&D) Expenses: Research and development expenses for the first quarter of 2025 increased to $15.3 million from $14.4 million for the corresponding period in 2024, reflecting continued investments in our Phase 2 and 3 clinical trials, including the SONATA Phase 3 study of sotagliflozin in HCM and the PROGRESS Phase 2b study of LX9211 in DPNP. Selling, General and Administrative (SG&A) Expenses: Selling, general and administrative expenses for the first quarter of 2025 decreased to $11.6 million from $32.1 million for the corresponding period in 2024. The decrease in 2025 reflects lower costs as a result of our strategic repositioning in late 2024 and the significantly reduced marketing efforts in 2025 for INPEFA. Net Loss: Net loss for the first quarter of 2025 was $25.3 million, or $0.07 per share, as compared to a net loss of $48.4 million, or $0.20 per share, in the corresponding period in 2024. For the first quarters of 2025 and 2024, net loss included non-cash, stock-based compensation expense of $3.0 million and $4.3 million, respectively. Cash and Investments: As of March 31, 2025, Lexicon had $194.8 million in cash and investments, as compared to $238.0 million as of December 31, 2024. The decrease in cash and investments in the first quarter of 2025 includes severance payments of $7.5 million related to the strategic repositioning in late 2024 which were accrued as of December 31, 2024. Conference Call and Webcast InformationLexicon management will hold a live conference call and webcast today at 5:00 pm ET / 4:00 pm CT to review its financial and operating results and to provide a general business update. A live audio webcast of the call can be accessed by visiting the Events page of the Company's investor relations website at Participants who wish to ask a question may register here to receive dial-in numbers and a unique pin to join the call. An archived version of the webcast will be available on the website for 30 days. About Lexicon PharmaceuticalsLexicon is a biopharmaceutical company with a mission of pioneering medicines that transform patients' lives. Through the Genome5000™ program, Lexicon's unique genomics target discovery platform, Lexicon scientists studied the role and function of nearly 5,000 genes and identified more than 100 protein targets with significant therapeutic potential in a range of diseases. Through the precise targeting of these proteins, Lexicon is pioneering the discovery and development of innovative medicines to safely and effectively treat disease. Lexicon has advanced multiple medicines to market and has a pipeline of promising drug candidates in heart failure, neuropathic pain, diabetes and metabolism and other indications. For additional information, please visit Safe Harbor StatementThis press release contains 'forward-looking statements,' including statements relating to Lexicon's financial position and long-term outlook on its business, including the commercialization of its approved products and the clinical development of, regulatory filings for, and potential therapeutic and commercial potential of its other drug candidates. In addition, this press release also contains forward looking statements relating to Lexicon's growth and future operating results, discovery, development and commercialization of products, strategic alliances and intellectual property, as well as other matters that are not historical facts or information. All forward-looking statements are based on management's current assumptions and expectations and involve risks, uncertainties and other important factors, specifically including Lexicon's ability to meet its capital requirements, successfully commercialize its approved products, successfully conduct preclinical and clinical development and obtain necessary regulatory approvals of its other drug candidates on its anticipated timelines, achieve its operational objectives, obtain patent protection for its discoveries and establish strategic alliances, as well as additional factors relating to manufacturing, intellectual property rights, and the therapeutic or commercial value of its approved products and other drug candidates. Any of these risks, uncertainties and other factors may cause Lexicon's actual results to be materially different from any future results expressed or implied by such forward-looking statements. Information identifying such important factors is contained under 'Risk Factors' in Lexicon's annual report on Form 10-K for the year ended December 31, 2024, as filed with the Securities and Exchange Commission. Lexicon undertakes no obligation to update or revise any such forward-looking statements, whether as a result of new information, future events or otherwise. For Investor and Media Inquiries: Lisa DeFrancescoLexicon Pharmaceuticals, Lexicon Pharmaceuticals, Inc. Selected Financial Data Consolidated Statements of Operations Data Three Months Ended March 31, (In thousands, except per share data) 2025 2024 (Unaudited) Revenues: Net product revenue $ 1,262 $ 1,093 Royalties and other revenue — 37 Total revenues 1,262 1,130 Operating expenses: Cost of sales 30 31 Research and development, including stock-based compensation of $1,574 and $1,594, respectively 15,303 14,372 Selling, general and administrative, including stock-based compensation of $1,469 and $2,708, respectively 11,608 32,060 Total operating expenses 26,941 46,463 Loss from operations (25,679 ) (45,333 ) Interest and other expense (1,835 ) (4,948 ) Interest income and other, net 2,219 1,884 Net loss $ (25,295 ) $ (48,397 ) Net loss per common share, basic and diluted $ (0.07 ) $ (0.20 ) Weighted average common shares outstanding, basic and diluted 362,073 245,390 As of As of Consolidated Balance Sheet Data March 31, 2025 December 31, 2024 (In thousands) Cash and investments $ 194,839 $ 237,957 Accounts receivable, net(1) 47,447 3,473 Property and equipment, net 2,308 2,484 Goodwill 44,543 44,543 Total assets 297,671 298,420 Deferred revenue, current(1) 45,000 — Current portion of long-term debt 42,056 — Long-term debt, net 58,643 100,298 Accumulated deficit (1,992,537 ) (1,967,242 ) Total stockholders' equity 123,032 145,950 (1)Includes $45 million related to licensing agreement as of March 31, 2025. 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