EX-99.1 3 exh99_1.htm EXHIBIT 99.1 exh99_1.htm
Exhibit 99.1
 
Selected Financial Data
 
As further discussed in Note 3 to our consolidated financial statements, our consolidated financial statements for each period presented have been adjusted for the retrospective application of Statement of Financial Accounting Standard No. 160, “Noncontrolling Interests in Consolidated Financial Statements.”
 
   
Year Ended December 31,
  
   
2008
    
2007
    
2006
    
2005
    
2004
  
Statements of Operations Data:
          
(in thousands, except per share data)
        
Revenues
 
$
32,321
    
$
50,118
    
$
72,798
    
$
75,680
    
$
61,740
  
Operating expenses:
                                        
Research and development, including stock-based compensation of $3,941 in 2008, $5,150 in 2007, $4,394 in 2006, ($21) in 2005 and $426 in 2004
    
108,575
      
104,332
      
106,695
      
93,625
      
90,586
  
General and administrative, including stock-based compensation of $2,559 in 2008, $2,776 in 2007, $2,636 in 2006, $0 in 2005 and $412 in 2004
    
20,281
      
20,740
      
21,334
      
18,174
      
18,608
  
Total operating expenses
    
128,856
      
125,072
      
128,029
      
111,799
      
109,194
  
Loss from operations
    
(96,535
)
    
(74,954
)
    
(55,231
)
    
(36,119
)
    
(47,454
)
Interest and other income (expense), net
    
(349
)
    
3,721
      
801
      
(77
)
    
282
  
Consolidated net loss before taxes
    
(96,884
)
    
(71,233
)
    
(54,430
)
    
(36,196
)
    
(47,172
)
Income tax provision
    
—
      
—
      
119
      
(119
)
    
—
  
Consolidated net loss
    
(96,844
)
    
(71,233
)
    
(54,311
)
    
(36,315
)
    
(47,172
)
Less: net loss attributable to noncontrolling interest in Symphony Icon, Inc.
    
20,024
      
12,439
      
—
      
—
      
—
  
Net loss attributable to Lexicon Pharmaceuticals, Inc.
  
$
(76,860
)
  
$
(58,794
)
  
$
(54,311
)
  
$
(36,315
)
  
$
(47,172
)
Net loss attributable to Lexicon Pharmaceuticals, Inc. per common share, basic and diluted
  
$
(0.56
)
  
$
(0.59
)
  
$
(0.81
)
  
$
(0.57
)
  
$
(0.74
)
Shares used in computing net loss attributable to Lexicon Pharmaceuticals, Inc. per common share, basic and diluted
    
136,797
      
99,798
      
66,876
      
63,962
      
63,327
  

 
   
As of December 31,
  
   
2008
    
2007
    
2006
    
2005
    
2004
  
Balance Sheet Data:
          
(in thousands)
        
Cash, cash equivalents and short-term investments, including restricted cash and investments of $430
  
$
86,502
    
$
222,109
    
$
79,999
    
$
99,695
    
$
87,558
  
Short-term investments held by Symphony Icon, Inc.
    
16,610
      
36,666
      
—
      
—
      
—
  
Long-term investments
    
55,686
      
—
      
—
      
—
      
—
  
Working capital
    
87,991
      
229,303
      
39,586
      
48,584
      
60,038
  
Total assets
    
261,508
      
369,296
      
190,266
      
218,714
      
211,980
  
Long-term debt, net of current portion
    
29,529
      
30,493
      
31,372
      
32,189
      
32,940
  
Accumulated deficit
    
(487,395
)
    
(410,535
)
    
(351,741
)
    
(297,430
)
    
(261,115
)
Lexicon Pharmaceuticals, Inc. stockholders’ equity
    
185,580
      
256,300
      
85,501
      
85,802
      
121,594