February 22, 2006
Lexicon Beats Earnings, Helped by Genentech Revenue
Lexicon Genetics (Nasdaq: LEXG) reported fourth quarter earnings per share of $.09 versus the consensus estimate of $.04 consensus. Revenues came in at $33.9 million, up 53.6% from the year-ago quarter and vs. the $33.75 million estimate. The company's strong earnings were due in part to the completion of work in collaboration with Genentech (NYSE: DNA), which helped to bring in revenue totaling $20 million. "In 2005, we made significant progress toward our goal of entering clinical development with our internal programs," said Arthur T. Sands, M.D., Ph.D., president and chief executive officer. "We continue to be encouraged by the results of preclinical safety testing for our lead programs -- LG617 for Alzheimer's and cognitive disorders and LG103 for irritable bowel syndrome." Investors are reacting positively this morning, with Lexicon shares finally breaking resistance of $4.00, up nearly 4.65%.
posted by Ant & Sons at 10:22 AM 0 comments
طبعا هذا سبب اختياري للسهم