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 | |||||||||||||||