Lexicon Pharmaceuticals, Inc.

Welcome to the Lexicon Pharmaceuticals' Second Quarter 2025 Financial Results Conference Call. At this time, all participants are in a listen-only mode. Following management's prepared remarks, we will hold a brief -and-answer session. As a reminder, this call is being recorded today, August 6, 2025. I will now turn the call over to Lisa DiFrancisco, SVP Investor Relations and Corporate Communications for Lexicon. Please go ahead, Lisa.

Thank you, Josh. Good morning and welcome to our Second Quarter 2025 Conference Call. Joining me today are Dr. Mike Exson, Lexicon's Chief Executive Officer and Director, Dr. Craig Granowitz, Senior Vice President and Chief Medical Officer, and Scott Chianti, Senior Vice President and Chief Financial Officer. This morning, Lexicon issued a press release announcing our financial results for the second quarter of 2025, which is available on our website at .lexpharma.com and through our SEC filing. A webcast of this call, along with a slide presentation, is also available on our website. During this call, we will review the information provided in the press release, provide a corporate update, then use the remainder of our time to answer your questions. Before we begin, let me remind you that we will be making forward-looking statements, including statements related to the safety, efficacy, clinical development, regulatory status, and therapeutic and commercial potential of -O-Vapidin, -5-1, Sotoconflozin, and our other drug programs, as well as our business generally. These statements may also include characterizations and projections relating to the clinical development, regulatory status, and market opportunity for our drug programs and the commercial performance of Impefa for heart failure. This call may also contain forward-looking statements relating to our growth and future operating results, discovery and development of our drug candidates, strategic alliances and intellectual property, as well as other matters that are not historical facts or information. Various risks may cause our actual results to differ materially from those expressed or implied in such forward-looking statements, and we refer you to our most recent annual report on Form 10-K and other SEC filings for detailed information describing such risks. I would now like to turn the call over to Mike Exson. Mike? Great.

Yes. Thank you, Lisa, and good day, everyone. Thanks for joining. We're really excited to give you updates on the quarter and all of the great work going on at Lexcon. When we entered 2025, if you recall, we were still in the early days of our strategic pivot to being an &D-focused company. And now in the second half of the year, I can say that this transformation has truly taken shape. We've made great strides against our objectives for the year across the board. We're now in a very strong position to advance our innovative portfolio of potential medicines. And I'm pleased to report that all of our lead R&D programs continue to be on track. We've made important progress against each of them in the second quarter, which I'd like to highlight briefly. To fill a vapidin, we've completed the secondary analysis of our Phase 2b progress results following the announcement of top-line data in the first quarter. We're now in the process of analyzing the totality of Phase 2 data, which supports the broad potential for this novel mechanism, while re-engaging in discussions with potential partners with this additional data in hand. Secondly, LX9851, our -in-class candidate for the treatment of obesity, is on track to complete IND-enabling studies in 2025. So we look forward to continued collaboration with our licensee, Nova Nordisk. For Soda Goplozin, we've really hit the accelerator on our Phase 3 SONATA study in hypertrophic cardiomyopathy, or HCM, which is the only Phase 3 HCM program enrolling currently, evaluating SOTA in both obstructive and non-obstructive subtypes of HCM. We've made excellent progress on site initiations globally, and Craig will elaborate on this shortly. Lastly, but importantly, we're also working closely with our licensee, Beatrice, on expanding the reach of SOTA Goplozin in territories outside of the US and the EU, and we're making great progress on that front as well. So in summary, the team's hard at work, and it was an incredibly productive quarter for us that I'm very proud of. Now, before I turn the call over to Craig to talk in detail about the great progress in the pipeline, I want to take a moment to acknowledge a milestone. July marks one year since I joined as CEO of Lexicon, and as I reflect on all the changes that we've seen in that 12 months, I'm truly proud of the dedication and adaptability of this team. We've successfully advanced multiple programs to late-stage development and beyond, and we look forward to reporting even more progress to come. And on that note, I'd like Craig to give a more detailed update on our pipeline program. So, over to you, Craig.