Optimism for the Future Inspired by the JP Morgan Healthcare Conference

In the several months since I joined Lexicon I am even more enthusiastic about the opportunities that lie ahead of us. I was initially impressed by the remarkable dedication of all members of the Lexicon team pursuing our mission of bringing new therapeutic solutions to patients in need. I was further excited to see this borne out by my experience at the recently concluded annual JP Morgan Healthcare Conference. In the many one-on-one meetings we had, as well as our corporate presentation, we clearly showed Lexicon’s path forward and received positive responses.?

This was also reflected more broadly in the general tone of JPM this year, which was significantly more optimistic than just a year ago with a number of large deals announced leading up-to, and during, the meeting itself. There were a number of themes that played across the meeting, such as:

• the broadening implications of AI in enabling potentially more rapid and successful drug discovery, development, and commercialization activities
• how macro-economic factors may help to positively improve the broader biotech landscape from both an investment and M&A perspective
• renewed interest in areas of high unmet medical need that have been somewhat muted until recently, such as Neuroscience

For our part, Lexicon has shown positive indicators for sustained growth into the future. We have made significant progress with access coverage, number of prescribers, and prescription numbers of our recently approved heart failure product. We announced our intention to proceed with a registrational study for sotagliflozin in HCM (hypertrophic cardiomyopathy), which is the most commonly inherited heart disease and an areas high unmet need where additional treatment options are needed by patients. In parallel, we also shared that we remain in active dialog with the FDA for a potential path forward for sotagliflozin in Type 1 diabetes – another area where additional treatment modalities are required. Furthermore, I am hugely encouraged by the significant 2023 progress and 2024 plans for LX9211, a novel, non-opioid approach, for the treatment of neuropathic pain. This program is part of our diverse pipeline portfolio and is another category where new treatment innovations are urgently needed by patients with no new therapeutic advances in over two decades.

My key takeaway for JPM ’24? As an industry, and as a company, we’re headed in a positive direction. We’ll need to remain focused, as there are always unpredictable events, but there’s plenty to be optimistic about as we work together to bring new options to patients in need.