Lexicon Pharmaceuticals is a small biopharmaceutical company focused on developing and commercializing drugs for cardiometabolic diseases and chronic pain. Lexicon's core asset is sotagliflozin, an internally discovered molecule that inhibits both SGLT1 and SGLT2 proteins — distinguishing it from the widely used class of selective SGLT2 inhibitors. Lexicon's one approved product, INPEFA (sotagliflozin), is an oral once-daily tablet approved in the U.S. to reduce cardiovascular and heart failure risk. However, Lexicon has largely abandoned active promotion of INPEFA after concluding it could not compete against entrenched SGLT2 inhibitors in the heart failure market. Lexicon's strategic focus is on two higher-value sotagliflozin opportunities: a Phase 3 trial (SONATA-HCM) evaluating sotagliflozin in hypertrophic cardiomyopathy, where no SGLT-class drug is approved and Lexicon believes its SGLT1 mechanism offers differentiation; and a planned NDA resubmission for ZYNQUISTA (sotagliflozin) in type 1 diabetes, where there are currently no approved SGLT-based therapies in the U.S. Beyond sotagliflozin, Lexicon is developing pilavapadin, a non-opioid oral drug for diabetic peripheral neuropathic pain, while seeking a partner to fund Phase 3. Lexicon also out-licensed LX9851, an oral obesity drug candidate, to Novo Nordisk for $45M upfront plus up to $1B in milestones and royalties. Lexicon earns revenue through INPEFA product sales, licensing payments, and royalties from partners Novo Nordisk and Viatris, which commercializes sotagliflozin outside the U.S. and Europe.