0001062822-23-000007 | 10-K | XBRL Viewer | Lexicon Pharmaceuticals INC

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Cover Page - USD ($) $ in Thousands	12 Months Ended
Cover Page - USD ($) $ in Thousands	Dec. 31, 2022	Mar. 01, 2023	Jun. 30, 2022
Cover [Abstract]
Document Type	10-K
Document Annual Report	true
Document Period End Date	Dec. 31, 2022
Document Transition Report	false
Entity File Number	000-30111
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	76-0474169
Entity Address, Address Line One	2445 Technology Forest Blvd., 11th Floor
City Area Code	(281)
Local Phone Number	863-3000
Entity Address, City or Town	The Woodlands,
Entity Address, State or Province	TX
Entity Address, Postal Zip Code	77381
Title of 12(b) Security	Common Stock, par value $0.001 per share
Security Exchange Name	NASDAQ
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Public Float			$ 134,400
Documents Incorporated by Reference	Certain sections of the registrant’s definitive proxy statement relating to the registrant’s 2023 annual meeting of stockholders, which proxy statement will be filed under the Securities Exchange Act of 1934 within 120 days of the end of the registrant’s fiscal year ended December 31, 2022, are incorporated by reference into Part III of this annual report on Form 10-K.
Entity Registrant Name	Lexicon Pharmaceuticals, Inc.
Entity Central Index Key	0001062822
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2019
Document Fiscal Period Focus	FY
Amendment Flag	false
Trading Symbol	LXRX
Entity Common Stock, Shares Outstanding		188,725,743
ICFR Auditor Attestation Flag	true
Document Information
ICFR Auditor Attestation Flag	true
Current Fiscal Year End Date	--12-31
Auditor Name	Ernst & Young LLP
Auditor Location	Houston, Texas
Auditor Firm ID	42
Entity Address, City or Town	The Woodlands,
Entity Common Stock, Shares Outstanding		188,725,743

Consolidated Balance Sheets - USD ($) shares in Thousands, $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Assets, Current [Abstract]
Cash and cash equivalents	$ 46,345	$ 64,065
Short-term investments	92,012	22,678
Accounts receivable, net of allowances of $4	28	14
Prepaid expenses and other current assets	2,481	2,164
Total current assets	140,866	88,921
Property and equipment, net of accumulated depreciation and amortization of $61,741 and $60,006, respectively	2,071	1,176
Goodwill	44,543	44,543
Operating lease right-of-use-assets	6,819
Total assets	194,299	136,909
Liabilities, Current [Abstract]
Accounts payable	10,395	9,152
Accrued liabilities	12,777	12,972
Total current liabilities	23,172	22,124
Long-term debt, net of issuance costs		0
Long-term operating lease liabilities	5,424	1,190
Total liabilities	77,175	23,314
Commitments and contingencies
Stockholders' Equity:
Preferred stock, $.01 par value; 5,000 shares authorized; no shares issued and outstanding	0	0
Common stock, $.001 par value; 225,000 shares authorized; 106,679 and 106,162 shares issued, respectively	189	150
Additional paid-in capital	1,709,144	1,608,749
Accumulated deficit	(1,589,720)	(1,487,776)
Accumulated other comprehensive loss	(428)	(10)
Treasury stock, at cost, 407 and 236 shares, respectively	(2,061)	(7,518)
Total stockholders' equity	117,124	113,595
Total liabilities and stockholders’ equity	$ 194,299	$ 136,909
Preferred stock, par value per share (usd per share)	$ 0.01	$ 0.01
Preferred stock, shares authorized	5,000	5,000
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Common stock, par value per share (usd per share)	$ 0.001	$ 0.001
Common stock, shares authorized	300,000	300,000

Balance Sheet Parentheticals - USD ($) shares in Thousands, $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Accumulated depreciation and amortization, property and equipment	$ 3,984	$ 4,853
Preferred stock, par value per share (usd per share)	$ 0.01	$ 0.01
Preferred stock, shares authorized	5,000	5,000
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Common stock, par value per share (usd per share)	$ 0.001	$ 0.001
Common stock, shares authorized	300,000	300,000
Treasury stock, shares	488	1,165
Common Stock
Common stock, shares issued	189,214	150,082

Consolidated Statements of Comprehensive Loss - USD ($) shares in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Revenues:
Net product revenue	$ 0	$ 0	$ 23,404,000
Collaborative agreements	0	0	33,000
Royalties and other revenue	139,000	298,000	558,000
Total revenues	139,000	298,000	23,995,000
Operating expenses:
Cost of sales (including finite-lived intangible asset amortization)	0	0	1,929,000
Research and development, including stock-based compensation of $4,253, $4,284 and $6,376 respectively	52,816,000	55,046,000	153,621,000
Selling, general and administrative, including stock-based compensation of $7,267, $6,293 and $6,898, respectively	48,083,000	32,342,000	47,230,000
Impairment of Intangible Assets, Indefinite-lived (Excluding Goodwill)	0	0	1,600,000
Total operating expenses	100,899,000	87,388,000	204,380,000
Gain on sale of non-financial assets	0	0	132,585,000
Income (loss) from operations	(100,760,000)	(87,090,000)	(47,800,000)
Recognition of gain or loss on extinguishment	0	0	1,003,000
Interest expense	(2,780,000)	(802,000)	(14,544,000)
Interest and other income, net	1,596,000	134,000	2,767,000
Income tax benefit	0	0	0
Net loss	(101,944,000)	(87,758,000)	(58,574,000)
Other comprehensive loss:
Unrealized gain (loss) on investments	(418,000)	(4,000)	(90,000)
Comprehensive loss	$ (102,362,000)	$ (87,762,000)	$ (58,664,000)
Earnings Per Share, Basic	$ (0.62)	$ (0.60)	$ (0.53)
Weighted Average Number of Shares Issued, Basic	165,733	145,652	110,841

Statements of Comprehensive Loss Parentheticals (Parentheticals) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Stock-based compensation expense associated with research and development expense	$ 4,253	$ 4,284	$ 6,376
Stock-based compensation expense associated with general and administrative expense	$ 7,267	$ 6,293	$ 6,898

Consolidated Statements of Stockholders' Equity - USD ($)	Total	Common Stock	Additional Paid-In Capital	Accumulated Deficit	Accumulated Other Comprehensive Gain (Loss)	Treasury Stock
Balance, shares at Dec. 31, 2019		106,679,000
Balance, value at Dec. 31, 2019	$ 117,101,000	$ 106,000	$ 1,462,172,000	$ (1,341,444,000)	$ 84,000	$ (3,817,000)
Stock-based compensation	13,274,000	0	13,274,000	0	0	0
Stock Issued During Period, Value, New Issues	6,963,000	$ 4,000	6,959,000	0	0	0
Stock Issued During Period, Shares, New Issues		3,709,000
Issuance of Stock and Warrants for Services or Claims	0
Sale of Stock, Consideration Received Per Transaction	63,007,000	$ 20,000	62,987,000	0	0	0
Common stock, shares issued		10,369,000
Issuance of common stock under Equity Incentive Plans, shares		1,219,000
Issuance of common stock under Equity Incentive Plans, value	2,000	$ 2,000	0	0	0	0
Repurchase of common stock	(1,026,000)	0	0	0	0	(1,026,000)
Net loss	(58,574,000)	0	0	(58,574,000)	0	0
Unrealized gain (loss) on investments	(90,000)	$ 0	0	0	(90,000)	0
Balance, shares at Dec. 31, 2020		142,289,000
Balance, value at Dec. 31, 2020	$ 156,371,000	$ 142,000	1,561,096,000	(1,400,018,000)	(6,000)	(4,843,000)
Sale of Stock, Number of Shares Issued in Transaction	20,312,500	20,313,000
Conversion of Stock, Amount Issued	$ 15,714,000	$ 10,000	15,704,000	0	0	0
Share price in November 20 ATM Offering	1.992
Proceeds from Nov 2020 ATM Offering	7,000,000
Commissions from December 2020 Common Stock Offering	1,800,000
Offering expenses from December 20 common stock offering	200,000
Issuance of Treasury Stock	$ 0
Shares Issued, Price Per Share	$ 3.20
Proceeds from December 2020 common stock offering	$ 63,000,000
Stock-based compensation	10,577,000	0	10,577,000	0	0	0
Stock Issued During Period, Value, New Issues	35,491,000	$ 6,000	35,485,000	0	0	0
Stock Issued During Period, Shares, New Issues		6,177,000
Issuance of Stock and Warrants for Services or Claims	0
Issuance of common stock under Equity Incentive Plans, shares		1,616,000
Issuance of common stock under Equity Incentive Plans, value	1,593,000	$ 2,000	1,591,000	0	0	0
Repurchase of common stock	(2,675,000)	0	0	0	0	(2,675,000)
Net loss	(87,758,000)	0	0	(87,758,000)	0	0
Unrealized gain (loss) on investments	(4,000)	$ 0	0	0	(4,000)	0
Balance, shares at Dec. 31, 2021		150,082,000
Balance, value at Dec. 31, 2021	$ 113,595,000	$ 150,000	1,608,749,000	(1,487,776,000)	(10,000)	(7,518,000)
Shares sold in January 2021 ATM offering	2,000,000
Proceeds from January 2021 ATM Offering	$ 16,400,000
Issuance of Treasury Stock	0
Stock-based compensation	11,520,000	0	11,520,000	0	0	0
Stock Issued During Period, Value, New Issues	94,205,000	$ 39,000	94,166,000	0	0	0
Stock Issued During Period, Shares, New Issues		39,100,000
Issuance of Stock and Warrants for Services or Claims	1,030,000	$ 0	1,030,000	0	0	0
Issuance of common stock under Equity Incentive Plans, shares		32,000
Issuance of common stock under Equity Incentive Plans, value	0	$ 0	0	0	0	0
Repurchase of common stock	(864,000)	0	0	0	0	(864,000)
Net loss	(101,944,000)	0	0	(101,944,000)	0	0
Unrealized gain (loss) on investments	(418,000)	$ 0	0	0	(418,000)	0
Balance, shares at Dec. 31, 2022		189,214,000
Balance, value at Dec. 31, 2022	117,124,000	$ 189,000	1,709,144,000	(1,589,720,000)	(428,000)	(2,061,000)
Stock Issued During Period, Shares, Treasury Stock Reissued		0
Issuance of Treasury Stock	$ 0	$ 0	$ (6,321,000)	$ 0	$ 0	$ (6,321,000)

Consolidated Statements of Cash Flows - USD ($)	12 Months Ended
Consolidated Statements of Cash Flows - USD ($)	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Cash flows from operating activities:
Net loss	$ (101,944,000)	$ (87,758,000)	$ (58,574,000)
Adjustments to reconcile consolidated net loss to net cash provided by (used in) operating activities:
Depreciation and amortization	427,000	292,000	2,934,000
Stock-based compensation	11,520,000	10,577,000	13,274,000
Loss on disposal of property and equipment	3,000	49,000	(707,000)
Deferred tax benefit	0	0	0
Changes in operating assets and liabilities:
(Increase) decrease in accounts receivable	(14,000)	381,000	53,227,000
Increase in inventories	0	0	345,000
(Increase) decrease in prepaid expenses and other current assets	(316,000)	2,885,000	(1,948,000)
(Increase) decrease in other assets	656,000	661,000	424,000
Increase (decrease) in accounts payable and other liabilities	76,000	(14,158,000)	(20,969,000)
Net cash used in operating activities	(88,851,000)	(87,017,000)	(142,969,000)
Cash flows from investing activities:
Purchases of property and equipment	(1,326,000)	(1,221,000)	(87,000)
Proceeds from Sale of Productive Assets	0	0	160,385,000
Proceeds from Sale of Property, Plant, and Equipment	0	0
Purchases of investments	(133,949,000)	(34,261,000)	(58,555,000)
Maturities of investments	64,197,000	37,592,000	268,000,000
Net cash provided by investing activities	(71,078,000)	2,110,000	380,756,000
Cash flows from financing activities:
Proceeds from issuance of common stock, net of fees	94,205,000	37,084,000	69,970,000
Repurchase of common stock	(864,000)	(2,675,000)	(1,026,000)
Repayment of debt borrowings	48,868,000	(11,700,000)	(216,580,000)
Net cash provided by (used in) financing activities	142,209,000	22,709,000	(147,636,000)
Net increase (decrease) in cash and cash equivalents	(17,720,000)	(62,198,000)	90,151,000
Cash and cash equivalents at beginning of year	64,065,000	126,263,000	36,112,000
Cash and cash equivalents at end of year	46,345,000	64,065,000	126,263,000
Supplemental disclosure of cash flow information:
Cash paid for interest	2,289,000	799,000	17,353,000
Supplemental disclosure of noncash investing and financing activities:
Common stock, $.001 par value; 225,000 shares authorized; 106,679 and 106,162 shares issued, respectively	0	0	15,714,000
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Liabilities	0	0	3,437,000
Amortization of debt issuance costs	741,000	54,000	1,013,000
Gain on sale of non-financial assets	0	0	(132,585,000)
Impairment of Real Estate	0	0	1,600,000
Impairment of Intangible Assets (Excluding Goodwill)	0	0
Recognition of gain or loss on extinguishment	0	0	(1,003,000)
Proceeds from Sale of Buildings			11,013,000
Severance Costs			5,500,000
Right-of-use assets	6,800,000	2,300,000	0
Right-of-Use Asset Obtained in Exchange for Operating Lease Liability	5,206,000
Issuance of Stock and Warrants for Services or Claims	1,030,000	0	0
Unearned ESOP Shares	6,321,000
Stock Issued During Period, Value, Treasury Stock Reissued	0	0	0
Business Exit Costs	$ 1,500,000	0	0
Extinguishment of Debt, Gain (Loss), Net of Tax			$ (1,003,000)
Right-of-Use Asset Obtained in Exchange for Finance Lease Liability		$ 1,704,000

Organization and Operations	12 Months Ended
Organization and Operations	Dec. 31, 2022
Organization and Operations [Abstract]
Organization and Operations	Organization and Operations Lexicon Pharmaceuticals, Inc. (“Lexicon” or the “Company”) is a Delaware corporation incorporated on July 7, 1995. Lexicon was organized to discover the functions and pharmaceutical utility of genes and use those gene function discoveries in the discovery and development of pharmaceutical products for the treatment of human disease. Lexicon has financed its operations from inception primarily through sales of common and preferred stock, contract and milestone payments to it under strategic collaborations and other research and development collaborations, target validation, database subscription and technology license agreements, product sales, government grants and contracts and financing under debt and lease arrangements. The Company’s future success is dependent upon many factors, including, but not limited to, the success of its commercialization efforts for any approved products; ongoing nonclinical and clinical development efforts and its ability to obtain necessary regulatory approvals of the drug candidates which are the subject of such efforts; its success in establishing new collaborations and licenses and its receipt of milestones, royalties and other payments under such arrangements; the amount and timing of research, development and commercialization expenditures; its resources devoted to developing and supporting its products; general and industry-specific economic conditions which may affect research, development and commercialization expenditures; and its ability to obtain and enforce patents and other proprietary rights in its discoveries, comply with federal and state regulations, and maintain sufficient capital to fund its activities. As a result of the aforementioned factors and the related uncertainties, there can be no assurance of the Company’s future success.

Summary of Significant Accounting Policies

12 Months Ended

Dec. 31, 2022

Accounting Policies [Abstract]

Summary of Significant Accounting Policies

Basis of Presentation: The accompanying consolidated financial statements include the accounts of Lexicon and its wholly-owned subsidiaries. Intercompany transactions and balances are eliminated in consolidation.

Use of Estimates: The preparation of financial statements in conformity with U. S. generally accepted accounting principles (“GAAP”) requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the period. Actual results could differ from those estimates.

Cash, Cash Equivalents and Short-Term Investments: Lexicon considers all highly-liquid investments with original maturities of three months or less to be cash equivalents. As of December 31, 2022 and 2021, short-term investments consist of U.S. treasury bills and corporate debt securities. The Company’s short-term investments are classified as available-for-sale securities and are carried at fair value, based on quoted market prices of the securities. The Company views its available-for-sale securities as available for use in current operations regardless of the stated maturity date of the security. The Company does not intend to sell any of its available-for-sale securities prior to their maturity dates. Unrealized gains and losses on such securities are reported as a separate component of stockholders’ equity. Net realized gains and losses, interest and dividends are included in interest income. The cost of securities sold is based on the specific identification method.

Accounts Receivable: Lexicon records trade accounts receivable in the normal course of business related to the sale of products or services, net of an allowance for expected credit losses.

Concentration of Credit Risk: Lexicon’s cash equivalents, investments and accounts receivable represent potential concentrations of credit risk. The Company attempts to minimize potential concentrations of risk in cash equivalents and investments by placing investments in high-quality financial instruments. The Company has not experienced any realized losses on its cash equivalents or short-term investments. The Company’s accounts receivable are unsecured and are concentrated in pharmaceutical and biotechnology companies located in the United States. The Company has not experienced any significant credit losses to date. In 2022, one customer in the United States represented 100% of revenue. In 2021, customers in Switzerland and the United States represented 76% and 24% of revenue, respectively. In 2020, customers in the United States represented 98% of revenue. At December 31, 2022, management believes that the Company has no significant concentrations of credit risk.

Substantially all of the Company’s revenues have been derived from drug discovery alliances, target validation collaborations for the development and, in some cases, analysis of the physiological effects of genes altered in knockout mice, technology licenses, subscriptions to its databases, product sales, government grants and contracts and compound library sales. In 2022, one customer represented 100% of revenue. In 2021, one customer represented 76% of revenues and another customer represented 24% of revenues, respectively. In 2020, two customers represented 65% and 22% of revenues, respectively.

Property and Equipment: Property and equipment that is held and used is carried at cost and depreciated using the straight-line method over the estimated useful life of the assets which ranges from three to 40 years. Maintenance, repairs and minor replacements are charged to expense as incurred. Leasehold improvements are amortized over the shorter of the estimated useful life or the remaining lease term. Significant renewals and betterments are capitalized.

Accrued liabilities: Accrued liabilities consisted of the following:


	As of December 31,
	2022		2021
	(in thousands)
Accrued research and development services	$	3,252	$	3,669
Accrued compensation and benefits	7,830		5,711
Short term lease liability	1,291		1,089
Other	404		2,503
Accrued liabilities	$	12,777	$	12,972

Impairment of Long-Lived Assets: Long-lived assets and right-of-use assets for leases are reviewed for impairment when events or changes in circumstances indicate that the carrying amount of such assets may not be recoverable. Recoverability of assets to be held and used is measured by comparison of the carrying amount of an asset to future net cash flows expected to be generated by the asset. If such assets are considered to be impaired, the impairment to be recognized is measured by the amount that the carrying amount of the assets exceeds the fair value of the assets. Assets to be disposed of are reported at the lower of the carrying amount or fair value less costs to sell. In 2020, the Company recognized an impairment loss of $1.6 million to reduce the carrying value of the assets comprising our campus in The Woodlands, Texas, which were sold in December 2020, to an estimated fair value, less estimated selling costs. There were no impairments of long-lived assets, in 2022 or 2021.

Goodwill Impairment: Goodwill is not amortized, but is tested at least annually for impairment at the reporting unit level. The Company has determined that the reporting unit is the single operating segment disclosed in its current financial statements. Impairment is the condition that exists when the carrying amount of goodwill exceeds its implied fair value. The first step in the impairment process is to determine the fair value of the reporting unit and then compare it to the carrying value, including goodwill. If the fair value exceeds the carrying value, no further action is required and no impairment loss is recognized. Additional impairment assessments may be performed on an interim basis if the Company encounters events or changes in circumstances that would indicate that, more likely than not, the carrying value of goodwill has been impaired. There was no impairment of goodwill in 2022, 2021 or 2020.

Leases: Lexicon determines if a contract is or contains a lease at inception or upon modification of the contract. A contract is or contains a lease if it conveys the right to control the use of an identified asset for a period in exchange for consideration. Control over the use of the identified asset means the lessee has both (a) the right to obtain substantially all of the economic benefits from the use of the asset and (b) the right to direct the use of the asset. Lexicon does not apply this accounting to those leases with terms of twelve (12) months or less. Operating lease right-of-use assets and associated lease liabilities are recorded in the balance sheet at the lease commencement date based on the present value of future lease payments to be made over the expected lease term. As the implicit rate is not determinable in its leases, Lexicon used a borrowing rate ranging between 9% and 9.7% at the commencement date in determining the present value of future payments.

Revenue Recognition:

Product Revenues

Prior to the Company’s sale of XERMELO and related assets to TerSera Therapeutics, LLC (“TerSera”) in September 2020, product revenues consisted of commercial sales of XERMELO in the United States and sales of bulk tablets of XERMELO to Ipsen. Product revenues were recognized when the customer obtained control of the Company’s product, which occured upon delivery to the customer. The Company recognized product revenue net of applicable reserves for variable consideration, including allowances for customer credits, estimated rebates, chargebacks, discounts, returns, distribution service fees, and government rebates, such as Medicare Part D coverage gap reimbursements in the United States, as discussed below. These estimates were based on the most likely amount method for relevant factors such as current contractual and statutory requirements, industry data and forecasted customer buying and payment patterns. Product shipping and handling costs were considered a fulfillment activity when control transfers to the Company’s customers and such costs were included in cost of sales.

Customer Credits: The Company’s customers were offered various forms of consideration, including allowances, service fees and prompt payment discounts. The Company expected that its customers would earn prompt payment discounts. As a result, the Company deducted the full amount of those discounts from total product sales when revenues were recognized. Service fees were also deducted from product sales as they were earned.

Rebates: Allowances for rebates include mandated discounts under the Medicaid Drug Rebate Program. Rebate amounts are based upon contractual agreements or legal requirements with public sector (e.g., Medicaid) benefit providers. Rebates are amounts owed after the final dispensing of the product to a benefit plan participant and are based upon contractual agreements or legal requirements with public sector benefit providers. The allowance for rebates is based on statutory discount rates and expected utilization. The Company’s estimates for expected utilization of rebates were based on third party market research data and data received from the specialty pharmacies dispensing XERMELO. Rebates were generally invoiced and paid in arrears so that the accrual balance consisted of an estimate of the amount expected to be incurred for the current quarter’s activity, plus an accrual balance for known unpaid rebates from the prior quarter. If actual future rebates varied from estimates, the Company adjusted prior period accruals, which affected revenue in the period of adjustment.

Chargebacks: Chargebacks are discounts that occur when contracted customers purchase directly from a specialty pharmacy or distributor, who acts as a retailer. Contracted customers, which consisted primarily of Public Health Service Institutions, non-profit clinics, and federal government entities purchasing via the Federal Supply Schedule, generally purchased XERMELO at a discounted price. The specialty pharmacy or distributor, in turn, charged back to Lexicon the difference between the price paid by the specialty pharmacy or distributor and the discounted price paid to the specialty pharmacy or distributor by the customer. The allowance for chargeback was based on known sales to contracted customers.

Medicare Part D Coverage Gap: The Medicare Part D prescription drug benefit mandates manufacturers to fund a portion of the Medicare Part D insurance coverage gap for prescription drugs sold to eligible patients. The Company’s estimates for the expected Medicare Part D coverage gap were based on data received from the specialty pharmacies dispensing XERMELO and projections based on historical data. Funding of the coverage gap was generally invoiced and paid in arrears so that the accrual balance consisted of an estimate of the amount expected to be incurred for the current quarter’s activity, plus an accrual balance for known prior quarters. If actual future funding varied from estimates, the Company adjusted prior period accruals, which affected revenues in the period of adjustment.

Co-payment assistance: Patients with commercial insurance who met certain eligibility requirements were eligible to receive co-payment assistance. The Company accrued a liability for co-payment assistance based on actual program participation and estimates of program redemption using data provided by third-party administrators.

Collaborative Agreements

Revenues under collaborative agreements include both license revenue and contract research revenue. The Company performs the following five steps in determining the amount of revenue to recognize as it fulfills its performance obligations under each of its collaborative agreements: (i) identify the contract(s) with a customer; (ii) identify the performance obligation in the contract; (iii) determine the transaction price; (iv) allocate the transaction price to the performance obligation in the contract, and (v) recognize revenue when (or as) the Company satisfies the performance obligation. The Company applies this five-step model to contracts when it is probable that the Company will collect the consideration it is entitled to in exchange for the goods or services it transfers to the customer. At contract inception, the Company assesses the goods or services promised within each contract and determines those that are performance obligations, and assesses whether each promised good or

service is distinct. The Company then recognizes as revenue the amount of the transaction price that is allocated to the respective performance obligation when (or as) the performance obligation is satisfied. The Company develops assumptions that require judgment to determine the stand-alone selling price for each performance obligation identified in the contract.

At contract inception, the Company evaluates whether development milestones are considered probable of being reached and estimates the amount to be included in the transaction price using the most likely amount method. If it is probable that a significant revenue reversal will not occur, the associated development milestone value is included in the transaction price. Development milestones that are not within the control of the Company or the licensee, including those requiring regulatory approval, are not considered probable of being achieved until those approvals are received. The transaction price is allocated to each performance obligation on a relative stand-alone selling price basis, for which the Company recognizes revenue when (or as) the performance obligation is satisfied. At the end of each reporting period, the Company re-evaluates the probability of achievement of the development milestones and any related constraint, and if necessary, adjusts its estimates of the overall transaction price. Any such adjustments are recorded on a cumulative catch-up basis, which would affect collaboration revenues in the period of adjustment.

In agreements in which a license to the Company’s intellectual property is determined distinct from other performance obligations identified in the agreement, the Company recognizes revenue when the license is transferred to the licensee and the licensee is able to use and benefit from the license.

For agreements that include sales-based royalties, including milestones based on a level of sales, the license is deemed to be the predominant item to which the royalties relate and the Company recognizes revenue at the later of (i) when the related sales occur, or (ii) when the performance obligation to which some or all of the royalty has been allocated has been satisfied (or partially satisfied).

The Company may receive payments from its licensees based on billing schedules established in each contract. Upfront payments and fees are recorded as deferred revenue upon receipt or when due, and may require deferral of revenue recognition to a future period until the Company performs its obligations under these agreements. Amounts are recorded as accounts receivable when the Company’s right to consideration is unconditional.

Cost of Sales: Cost of sales consisted of third-party manufacturing costs, freight and indirect overhead costs associated with sales of XERMELO. Product shipping and handling costs were included in cost of sales. Cost of sales also included the amortization of the intangible asset for XERMELO using the straight-line method over the estimated useful life of 14 years.

Research and Development Expenses: Research and development expenses consist of costs incurred for company-sponsored as well as collaborative research and development activities. These costs include direct and research-related overhead expenses and are expensed as incurred. Technology license fees for technologies that are utilized in research and development and have no alternative future use are expensed when incurred. Substantial portions of the Company’s preclinical and clinical trials are performed by third-party laboratories, medical centers, contract research organizations and other vendors. For preclinical studies, the Company accrues expenses based upon estimated percentage of work completed and the contract milestones remaining. For clinical studies, expenses are accrued based upon the number of patients enrolled and the duration of the study. The Company monitors patient enrollment, the progress of clinical studies and related activities to the extent possible through internal reviews of data reported to the Company by the vendors and clinical site visits. The Company’s estimates depend on the timeliness and accuracy of the data provided by the vendors regarding the status of each program and total program spending. The Company periodically evaluates the estimates to determine if adjustments are necessary or appropriate based on information it receives.

Stock-Based Compensation: The Company recognizes compensation expense in its statements of comprehensive loss for share-based payments, including stock options and restricted stock units issued to employees, based on their fair values on the date of the grant, with the compensation expense recognized over the period in which an employee is required to provide service in exchange for the stock award. Stock-based compensation expense for awards without performance conditions is recognized based on the terms of vesting, which is typically on a straight-line basis. Stock-based compensation expense for awards with performance conditions is recognized over the period from the date the performance condition is determined to be probable of occurring through the time the applicable condition is met. As of December 31, 2022, future stock-based compensation cost for all outstanding unvested stock options and restricted stock units was $21.0 million, which is expected to be recognized over a weighted-average period of 1.3 years.

The fair value of stock options is estimated at the date of grant using the Black-Scholes method. The Black-Scholes option-pricing model requires the input of subjective assumptions. Because the Company’s employee stock options have

characteristics significantly different from those of traded options, and because changes in the subjective input assumptions can materially affect the fair value estimate, in management’s opinion, the existing models do not necessarily provide a reliable single measure of the fair value of its employee stock options. For purposes of determining the fair value of stock options, the Company segregates its options into two homogeneous groups, based on exercise and post-vesting employment termination behaviors, resulting in different assumptions used for expected option lives. Historical data is used to estimate the expected option life for each group. Expected volatility is based on the historical volatility in the Company’s stock price. The following weighted-average assumptions were used for stock options granted in the years ended December 31, 2022, 2021 and 2020, respectively:


	Expected Volatility	Risk-free Interest Rate	Expected Term	Dividend Rate
December 31, 2022:
Employees	109%	2.8%	4	0	%
Officers and non-employee directors	91%	1.9%	7	0	%
December 31, 2021:
Employees	104%	0.7%	4	0	%
Officers and non-employee directors	90%	1.0%	6	0	%
December 31, 2020:
Employees	98%	1.3%	4	0	%
Officers and non-employee directors	85%	1.4%	7	0	%

Income Taxes: The Company recognizes deferred tax liabilities and assets for the expected future tax consequences of events that have been recognized differently in the financial statements and tax returns. The Company uses the liability method in accounting for income taxes. Under this method, deferred tax liabilities and assets are determined based on the difference between the financial statement carrying amounts and tax bases of liabilities and assets using enacted tax rates and laws in effect in the years in which the differences are expected to reverse. Deferred tax assets are evaluated for realization based on a more-likely-than-not criteria in determining if a valuation allowance should be provided.

The Company maintains a valuation allowance on net operating losses and other deferred tax assets. Accordingly, the Company has not reported any tax benefit relating to the remaining net operating loss carryforwards and income tax credit carryforwards that are available for utilization in future periods. On a periodic basis, the valuation allowance is reassessed on deferred income tax assets, weighing positive and negative evidence to assess the recoverability of the deferred tax assets. In 2022, the Company reassessed the valuation allowance and considered negative evidence, including the cumulative losses over the three years ended December 31, 2022 and positive evidence including the projections of future income. After assessing both the negative and the positive evidence, the Company concluded that it should continue to maintain the valuation allowance on net operating losses and other deferred tax assets as of December 31, 2022 given the significance of the weight of the negative evidence. Based on recent financial performance and future projections, the Company could record a reversal of all, or a portion of the valuation allowance associated with U.S. deferred tax assets in future periods. However, any such change is subject to actual performance and other considerations that may present positive or negative evidence at the time of the assessment. The total gross deferred tax asset balance subject to the valuation allowance assessment was approximately $347.1 million at December 31, 2022.

Significant judgment is required in making these assessments to maintain or reverse valuation allowances and, to the extent future expectations change the Company would have to assess the recoverability of these deferred tax assets at that time.

Net Loss per Common Share: Net loss per common share is computed using the weighted average number of shares of common stock outstanding. Shares associated with warrants, stock options and restricted stock units that could potentially dilute earnings per share in the future are not included in the computation of diluted earnings per share because they are antidilutive.

Recent Accounting Pronouncements	12 Months Ended
Recent Accounting Pronouncements	Dec. 31, 2022
Recent Accounting Pronouncements [Abstract]
New Accounting Pronouncements and Changes in Accounting Principles [Text Block]	Recent Accounting Pronouncements In August 2020, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2020-06, Debt - Debt with Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging - Contracts in Entity’s Own Equity (Subtopic 815-40), which removes the separation models for convertible debt with cash conversion or beneficial conversion features. ASU 2020-06 also requires the application of the if-converted method for calculating earnings per diluted share, as the treasury stock method will no longer be permitted for convertible instruments. The adoption of ASU 2020-06 during the first quarter of 2022 did not have a material impact on the consolidated financial statements.

- Definition

The entire disclosure for change in accounting principle. Includes, but is not limited to, nature, reason, and method of adopting amendment to accounting standards or other change in accounting principle.

+ References

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+ Details

Cash and Cash Equivalents and Investments

12 Months Ended

Dec. 31, 2022

Cash and Cash Equivalents and Investments [Abstract]

Cash and Cash Equivalents and Investments

Cash, Cash Equivalents and Investments

The fair value of cash and cash equivalents and investments held at December 31, 2022 and 2021 are as follows:


	As of December 31, 2022
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Estimated Fair Value
			(in thousands)
Cash and cash equivalents	$	46,345	$	—	$	—	$	46,345
Securities maturing within one year:
U.S. treasury securities	74,022		—		(342)		73,680
Corporate debt securities	18,418		—		(86)		18,332
Total short-term investments	$	92,440	$	—	$	(428)	$	92,012
Total cash and cash equivalents and investments	$	138,785	$	—	$	(428)	$	138,357


	As of December 31, 2021
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Estimated Fair Value
			(in thousands)
Cash and cash equivalents	$	64,066	$	—	$	(1)	$	64,065
Securities maturing within one year:
Corporate debt securities	26,018		5		(11)		26,012

Total short-term investments	$	26,018	$	5	$	(11)	$	26,012
Total cash and cash equivalents and investments	$	90,084	$	5	$	(12)	$	90,077

There were no realized gains or losses for the years ended December 31, 2022, 2021, and 2020.

Fair Value Measurements

12 Months Ended

Dec. 31, 2022

Fair Value Measurements [Abstract]

Fair Value Measurements

The Company uses various inputs in determining the fair value of its investments and measures these assets on a recurring basis. Assets and liabilities recorded at fair value in the consolidated balance sheets are categorized by the level of objectivity associated with the inputs used to measure their fair value. The following levels are directly related to the amount of subjectivity associated with the inputs to fair valuation of these assets and liabilities:

•Level 1 – quoted prices in active markets for identical assets, which include U.S. treasury securities

•Level 2 – other significant observable inputs (including quoted prices for similar investments, market corroborated inputs, etc.), which include corporate debt securities

•Level 3 – significant unobservable inputs

The inputs or methodology used for valuing securities are not necessarily an indication of the credit risk associated with investing in those securities. The following tables provide the fair value measurements of applicable Company assets and liabilities that are measured at fair value on a recurring basis according to the fair value levels defined above as of December 31, 2022 and 2021.


	Assets and Liabilities at Fair Value
	As of December 31, 2022
	Level 1		Level 2		Level 3		Total
	(in thousands)
Assets
Cash and cash equivalents	$	46,345	$	—	$	—	$	46,345
Short-term investments	73,680		18,332		—		92,012
Total cash and cash equivalents and investments	$	120,025	$	18,332	$	—	$	138,357


	Assets and Liabilities at Fair Value
	As of December 31, 2021
	Level 1		Level 2		Level 3		Total
	(in thousands)
Assets
Cash and cash equivalents	$	64,065	$	—	$	—	$	64,065
Short-term investments	7,561		15,117		—		22,678
Total cash and cash equivalents and investments	$	71,626	$	15,117	$	—	$	86,743

The Company did not have any Level 3 assets or liabilities at December 31, 2022 or 2021. Transfers between levels are recognized at the actual date of circumstance that caused the transfer. There were no transfers between Level 1 and Level 2 during the periods presented.

Refer to Note 9, Debt Obligations, for fair value measurements of debt obligations.

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References + Details

Property and Equipment

12 Months Ended

Dec. 31, 2022

Property and Equipment [Abstract]

Property and Equipment

Property and equipment at December 31, 2022 and 2021 are as follows:


	Estimated Useful Lives	As of December 31,
	In Years	2022		2021
		(in thousands)
Computers and software	3-5	$	2,209	$	3,027
Furniture and fixtures	5-7	1,794		1,692

Leasehold improvements	3-7	2,052		1,310


Total property and equipment		6,055		6,029
Less: Accumulated depreciation and amortization		(3,984)		(4,853)
Net property and equipment		$	2,071	$	1,176

Income Taxes

12 Months Ended

Dec. 31, 2022

Income Tax Disclosure [Abstract]

Income Taxes

The Coronavirus Aid, Relief and Economic Security Act (“CARES Act”) was enacted on March 27, 2020 in the United States to provide emergency assistance to individuals and businesses affected by the COVID-19 pandemic. The CARES Act includes temporary changes to both income and non-income based tax laws. Future regulatory guidance under the CARES Act or additional legislation enacted by Congress in connection with the COVID-19 pandemic could impact our tax provision in future periods.

Lexicon recognizes deferred tax liabilities and assets for the expected future tax consequences of events that have been recognized differently in the financial statements and tax returns. Under this method, deferred tax liabilities and assets are determined based on the difference between the financial statement carrying amounts and tax bases of liabilities and assets using enacted tax rates and laws in effect in the years in which the differences are expected to reverse. Deferred tax assets are evaluated for realization based on a more-likely-than-not criteria in determining if a valuation allowance should be provided.

The components of Lexicon’s deferred tax assets (liabilities) at December 31, 2022 and 2021 are as follows:


	As of December 31,
	2022		2021
	(in thousands)
Deferred tax assets:
Net operating loss carryforwards	$	251,331	$	229,427
Research and development tax credits	29,290		29,290
Orphan drug credits	24,524		24,524
Capitalized research and development	33,813		36,770
Stock-based compensation	5,445		5,163

Interest	398		148
Other	2,255		1,308
Total deferred tax assets	347,056		326,630
Deferred tax liabilities:

Other	(1,295)		(412)
Total deferred tax liabilities	(1,295)		(412)
Less: valuation allowance	(345,761)		(326,218)
Net deferred tax liabilities	$	—	$	—

A reconciliation of the statutory tax rate to the effective tax rate for the years ended December 31, 2022, 2021 and 2020 consists of the following:


	Year Ended December 31,
	2022		2021		2020
	(in thousands)
Expected income tax expense (benefit) at 21%	$	(21,408)	$	(18,429)	$	(12,300)
State income taxes, net of federal benefit	—		—		(269)
Equity compensation	1,627		851		1,777





Write off of credit carryover due to 382 study	—		—		31,053
Change in valuation allowance	19,543		17,210		(20,418)
Other (1)	238		368		157
Income tax benefit	$	—	$	—	$	—

(1) Other is primarily comprised of expiring Research and Development credits for the year ended December 31, 2020 and nondeductible expenses for the years ended December 31, 2022 and 2021.

Section 382 of the Internal Revenue Code of 1986, contains rules that limit the ability of a company that undergoes an “ownership change” to utilize its net operating loss and tax credit carryovers and certain built-in losses recognized in years after the “ownership change.” An “ownership change” is generally defined as any change in ownership of more than 50% of a corporation’s stock over a rolling three-year period by stockholders that own (directly or indirectly) 5% or more of the stock of a corporation, or arising from a new issuance of stock by a corporation. If an ownership change occurs, Section 382 generally imposes an annual limitation on the use of pre-ownership change net operating loss carryovers to offset taxable income earned after the ownership change. The Company completed a Section 382 study and determined that historical ownership changes occurred. The Section 382 annual limitation related to historical ownership changes impacts our ability to utilize our tax attributes. In 2020, the federal deferred tax assets and valuation allowance decreased due to the write-off of attributes that will expire still subject to limitation.

At December 31, 2022, Lexicon had both federal and state NOL carryforwards of approximately $1.2 billion and $86.9 million, respectively. In 2022, federal NOLs increased by $104.0 million related to a current year NOL. The Company had $446.3 million of U.S. federal NOL carryforwards as of December 31, 2022, which can be carried forward indefinitely. The remaining federal and state NOL carryforwards will begin to expire in 2022. Based on the federal tax law limits and the Company’s cumulative loss position, the Company concluded it was appropriate to establish a full valuation allowance for its net deferred tax assets until an appropriate level of profitability is sustained. During the year ended December 31, 2022, the valuation allowance increased $19.5 million, primarily due to NOLs generated partially offset by decreases in deferred tax assets associated with capitalized research and development expenses.

As of December 31, 2022 and 2021, the Company did not have any unrecognized tax benefits. Any interest and penalties related to uncertain tax positions will be reflected as a component of income tax expense.

The Company is primarily subject to U.S. federal and New Jersey and Texas state income taxes. The tax years 1999 to current remain open to examination by U.S. federal authorities and 2012 to current remain open to examination by state authorities. The Company’s policy is to recognize interest and penalties related to income tax matters in income tax expense. As of December 31, 2022 and 2021, the Company had no accruals for interest or penalties related to income tax matters.

- Definition

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

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+ Details

Goodwill	12 Months Ended
Goodwill	Dec. 31, 2022
Goodwill [Abstract]
Goodwill	Goodwill In July 2001, Lexicon completed the acquisition of Coelacanth Corporation in a merger. Coelacanth, now Lexicon Pharmaceuticals (New Jersey), Inc., formed the core of the Company’s division responsible for small molecule compound discovery. The results of Lexicon Pharmaceuticals (New Jersey), Inc. are included in the Company’s results of operations for the period subsequent to the acquisition. Goodwill associated with the acquisition of $25.8 million, which represents the excess of the $36.0 million purchase price over the fair value of the underlying net identifiable assets, was assigned to the consolidated entity, Lexicon. In June 2007, Lexicon entered into an arrangement providing for the financing of the clinical development of certain of its drug candidates. Under the arrangement, Lexicon licensed to Symphony Icon, Inc. its intellectual property rights relating to the drug candidates and obtained an exclusive purchase option that gave Lexicon the right to acquire all the equity of Symphony Icon. In July 2010, Lexicon exercised its purchase option and completed the acquisition of Symphony Icon. Goodwill associated with the acquisition of $18.7 million, which represents the assets recognized in connection with the deferred tax liability acquired and did not result from excess purchase price, was assigned to the consolidated entity, Lexicon. Goodwill is not subject to amortization, but is tested at least annually for impairment at the reporting unit level, which is the Company’s single operating segment. The Company performed an impairment test of goodwill on its annual impairment assessment date. This test did not result in an impairment of goodwill.

Debt Obligations	12 Months Ended
Debt Obligations	Dec. 31, 2022
Debt Obligations [Abstract]
Debt Obligations	Debt Obligations Oxford Term Loans. On March 17, 2022, Lexicon and one of its subsidiaries entered into a loan and security agreement with Oxford Finance LLC (“Oxford”) that provides up to $150 million in borrowing capacity (the “Oxford Term Loans”) available in four tranches, each maturing in March 2027. Monthly interest-only payments are due during an initial 36-month period, which may be extended at Lexicon’s option to 48 months if Lexicon maintains compliance with a financial covenant relating to net sales of sotagliflozin following regulatory approval. The interest-only period will be followed by an amortization period extending through the maturity date. On August 29, 2022, the Company entered into a first amendment to the loan and security agreement modifying the period during which the second $25 million tranche under the facility would be available for draw in exchange for $0.3 million of cash consideration. The first $25 million tranche was funded at closing. The second $25 million tranche was funded on December 30, 2022. The third $50 million tranche is available for draw at Lexicon’s option prior to June 30, 2023, but within 60 days of U.S. regulatory approval of sotagliflozin for heart failure. The fourth $50 million tranche is available for draw at Lexicon’s option, subject to Oxford’s consent, at any time prior to the expiration of the interest-only payment period. Principal payments of $8.7 million, $13.0 million, and $4.8 million will be due during the fiscal years ended December 31, 2025, December 31, 2026 and December 31, 2027, respectively, with respect to the first tranche. Principal payments of $8.7 million, $13.0 million, and $4.8 million will be due during the fiscal years ended December 31, 2025, December 31, 2026 and December 31, 2027, respectively, with respect to the second tranche. The loan and security agreement provides that, upon funding of the first three tranches, Lexicon will grant Oxford a warrant to purchase shares of its common stock having a value equal to 3.50%, 1.75% and 0.875%, respectively, of each such tranche, as determined by reference to a 10-day average closing price of the shares. Each warrant will have an exercise price equal to such average closing price, be exercisable for a five-year period from the date of issuance and feature a net cashless exercise provision. Concurrent with the funding of the first tranche, Lexicon granted Oxford a warrant to purchase 420,673 shares of Lexicon’s common stock at an exercise price of $2.08 per share. Concurrent with the funding of the second tranche, Lexicon granted Oxford a warrant to purchase 224,128 shares of Lexicon’s common stock at an exercise price of $1.95 per share. The warrants are exercisable for five years from their respective grant dates and are classified as equity instruments. The Company allocated the proceeds from each tranche to the corresponding warrant using the relative fair value method and used the Black-Scholes model to calculate the fair value of the warrants. The fair value of the first tranche warrant of $0.7 million was recognized as equity with a corresponding debt discount of $0.7 million. The fair value of the second tranche warrant of $0.3 million was recognized as equity with a corresponding debt discount of $0.3 million. The Oxford Term Loans bear interest at a floating rate equal to the 30-day U.S. Dollar LIBOR plus 7.90%, but not less than 8.01%, subject to additional interest if an event of default occurs and is continuing. As of December 31, 2022, the interest rate was 12.04%. If an event of default occurs and is continuing, Oxford may declare all amounts outstanding under the loan and security agreement to be immediately due and payable. Lexicon may prepay the Oxford Term Loans in whole at its option at any time. Any prepayment of the Oxford Term Loans is subject to prepayment fees for up to three years after the funding of each tranche of the loans. A final payment exit fee equal to 6% of the amount funded under the Oxford Term Loans is due upon prepayment or maturity, which final payment will be adjusted to 7% of the amount funded upon extension of the interest-only payment period. The final payment exit fee of $1.5 million was recorded once for each tranche as a debt discount on the funding date. During March 2022, in connection with the first tranche of the loan and security agreement, the Company received cash proceeds of $24.15 million, net of debt issuance costs of $0.35 million and a facility fee of $0.50 million. The debt issuance costs and facility fee have been recorded as a debt discount on the consolidated balance sheet, which together with the final payment exit fee of $1.5 million and warrant fair value of $0.7 million are being amortized to interest expense throughout the life of the term loan using the effective interest rate method. On December 30, 2022, in connection with the second tranche of the loan and security agreement, the Company received cash proceeds of $24.96 million, net of debt issuance costs of $0.04 million. The debt issuance costs were recorded as a debt discount on the consolidated balance sheet, which together with the final payment exit fee of $1.5 million and warrant fair value of $0.3 million are being amortized to interest expense throughout the life of the term loan using the effective interest rate method. As of December 31, 2022, the balance of the debt discount was $4.4 million. During the year ended December 31, 2022, the Company recognized interest expense of $2.8 million. As of December 31, 2022, the carrying value of the Oxford Term Loans was $48.6 million. The carrying value of the Oxford Term Loans approximates its fair value, as the loans bear interest at a rate that approximates prevailing market rates for instruments with similar characteristics. The fair value of the Oxford Term Loans is determined under Level 2 in the fair value hierarchy. Lexicon’s obligations under the Oxford Term Loans are secured by a first lien security interest in all of the assets of the Company and its subsidiaries. The loan and security agreement contains certain customary representations and warranties, affirmative and negative covenants and events of default applicable to Lexicon and its subsidiaries. In addition to the financial covenant, additional covenants include those restricting dispositions, fundamental changes to its business, mergers or acquisitions, indebtedness, encumbrances, distributions, investments, transactions with affiliates and subordinated debt. The Company was in compliance with its debt covenants as of December 31, 2022. Convertible Notes. In November 2014, Lexicon completed an offering of $87.5 million in aggregate principal amount of 5.25% Convertible Senior Notes due 2021 (the “Convertible Notes”). The conversion feature did not meet the criteria for bifurcation as required by generally accepted accounting principles and the entire principal amount was recorded as long-term debt on the Company’s consolidated balance sheets. The Convertible Notes were governed by an indenture between the Company and Wells Fargo Bank, N.A., as trustee. The Convertible Notes bore interest at a rate of 5.25% per year, which was payable semiannually in arrears on June 1 and December 1 of each year, beginning on June 1, 2015. In September 2020, the Company entered into separate, privately negotiated exchange agreements to exchange $75.8 million aggregate principal amount of the Convertible Notes for consideration valued at 85% of the principal amount of the Convertible Notes. In September and October 2020, the Company issued 10,368,956 shares of the Company’s common stock and paid $50.0 million in cash, which included $1.3 million of accrued interest, to exchange such Convertible Notes. The Company recorded the exchanges under the accounting requirements for debt extinguishment of convertible instruments. As a result, a debt extinguishment gain of $9.6 million was recorded and is included in the accompanying consolidated statement of comprehensive loss for the year ended December 31, 2020. In December 2021, the remaining balance of $11.6 million was repaid in cash. Mortgage Loan. In August 2018, a wholly owned subsidiary of Lexicon entered into a term loan and security agreement refinancing the previously existing mortgage on its facilities in The Woodlands, Texas (the “Property”). The Company recorded the refinancing as a debt extinguishment, with no recognition of gain or loss on the transaction. The loan agreement provided for a $12.9 million mortgage on the Property and had a two-year term with a 10-year amortization. The mortgage loan bore interest at a rate per annum equal to the greater of (a) the 30-day LIBOR rate plus 5.5% and (b) 7.5% and provided for a balloon payment of $10.3 million, which was paid in full in August 2020. BioPharma Term Loan. In December 2017, Lexicon entered into a loan agreement with BioPharma Credit PLC and BioPharma Credit Investments IV Sub LP under which $150 million was funded in December 2017 (the “BioPharma Term Loan”). The BioPharma Term Loan was scheduled to mature in December 2022, bore interest at 9% per year, subject to additional interest if an event of default occurred and was continuing, and was payable quarterly. The BioPharma Term Loan was subject to mandatory prepayment provisions that required prepayment upon a change of control or receipt of proceeds from certain non-ordinary course transfers of assets. The Company repaid the BioPharma Term Loan in whole, together with required prepayment and make-whole premiums, upon closing of the sale of XERMELO and related assets to TerSera Therapeutics LLC in September 2020. The Company recorded the repayment under the accounting requirements for debt extinguishment and as a result, a loss of $8.6 million was recognized and is included in the accompanying consolidated statement of comprehensive loss for the year ended December 31, 2020.

- Definition

The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants.

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+ Details

Equity Incentive Awards

12 Months Ended

Dec. 31, 2022

Equity Incentive Awards [Abstract]

Equity Incentive Awards

Equity Incentive Plans

2017 Equity Incentive Plan: In September 1995, Lexicon adopted the 1995 Stock Option Plan, which was subsequently amended and renamed the 2017 Equity Incentive Plan (the “Equity Incentive Plan”).

The Equity Incentive Plan permits the grant of incentive stock options to employees and nonstatutory stock options to employees, directors and consultants of the Company. The plan also permits the grant of stock bonus awards, restricted stock awards, restricted stock unit awards, stock appreciation rights and performance stock awards. Incentive and nonstatutory stock options have an exercise price of 100% or more of the fair market value of the Company’s common stock on the date of grant. Most stock options granted under the Equity Incentive Plan become vested and exercisable over a period of four years; however some have been granted with different vesting schedules. Stock options granted under the Equity Incentive Plan have a term of ten years from the date of grant.

The total number of shares of common stock that may be issued pursuant to stock awards under the Equity Incentive Plan shall not exceed in the aggregate 30,000,000 shares at December 31, 2022. As of December 31, 2022, options to purchase 11,847,723 shares and 2,559,306 restricted stock units were outstanding, 2,285,702 shares had been issued upon the exercise of stock options, 5,294,942 shares had been issued pursuant to restricted stock units and 113,940 shares had been issued pursuant to stock bonus awards or restricted stock awards granted under the Equity Incentive Plan.

2017 Non-Employee Directors’ Equity Incentive Plan: In February 2000, Lexicon adopted the 2000 Non-Employee Directors’ Stock Option Plan, which was subsequently amended and renamed the 2017 Non-Employee Directors’ Equity Incentive Plan (the “Directors’ Plan”). Under the Directors’ Plan, non-employee directors may be granted awards under the plan with an aggregate grant date fair value of no more than $500,000 during any calendar year, taken together with any cash fees paid to such non-employee director in compensation for service on Lexicon’s board of directors during such calendar year. Stock options granted under the Directors’ Plan have an exercise price equal to the fair market value of the Company’s common stock on the date of grant and a term of ten years from the date of grant.

The total number of shares of common stock that may be issued pursuant to stock awards under the Directors’ Plan shall not exceed in the aggregate 1,200,000 shares at December 31, 2022. As of December 31, 2022, stock options to purchase 501,224 shares were outstanding, none had been issued upon the exercise of stock options, 74,416 restricted stock units were outstanding and 248,232 shares had been issued pursuant to restricted stock and restricted stock unit awards granted under the Directors’ Plan.

Stock Option Activity:

The following is a summary of stock option activity under Lexicon’s equity incentive plans:


	2022			2021			2020
(in thousands, except exercise price data)	Options	Weighted Average Exercise Price		Options	Weighted Average Exercise Price		Options	Weighted Average Exercise Price
Outstanding at beginning of year	8,367	$	6.80	8,397	$	7.12	7,695	$	8.95
Granted	5,099	2.97		1,808	6.39		3,495	3.24
Exercised	—	—		(376)	4.37		—	—
Expired	(163)	12.50		(191)	12.50		(236)	12.91
Forfeited	(954)	7.41		(1,271)	8.17		(2,557)	6.78
Outstanding at end of year	12,349	5.10		8,367	6.80		8,397	7.12
Exercisable at end of year	5,747	$	7.00	5,032	$	7.99	4,684	$	9.48

The weighted average estimated grant date fair value of stock options granted during the years ended December 31, 2022, 2021 and 2020 were $2.30, $4.85 and $2.35, respectively. The total intrinsic value of stock options exercised during the year ended December 31, 2022 was $0. The weighted average remaining contractual term of stock options outstanding and exercisable was 7.2 and 5.3 years, respectively, as of December 31, 2022. At December 31, 2022, the aggregate intrinsic value of the outstanding stock options was $0.1 million. At December 31, 2022, the intrinsic value of exercisable stock options was $0.

Stock Bonus and Restricted Stock Unit Activity:

During the years ended December 31, 2022, 2021 and 2020, Lexicon granted its employees restricted stock units in lieu of or in addition to annual stock option awards. These restricted stock units vest in three annual installments. The total fair value of shares vested in 2022, 2021 and 2020 was $2.9 million, $8.7 million and $3.2 million, respectively.

During the years ended December 31, 2022, 2021 and 2020, Lexicon granted its non-employee directors 74,416, 32,192 and 85,104 restricted stock units, respectively. The restricted stock granted in 2022, 2021 and 2020 had weighted average grant date fair values of $1.77, $5.04 and $1.86 per share, respectively. Vesting of restricted stock units occurs on the first anniversary of the grant date.

The following is a summary of restricted stock units activity under Lexicon’s stock-based compensation plans for the year ended December 31, 2022:


	Shares	Weighted Average Grant Date Fair Value
	(in thousands)
Outstanding at December 31, 2021	1,854	$	5.16
Granted	2,185	3.15
Vested	(1,012)	4.86
Forfeited	(279)	4.03
Outstanding at December 31, 2022	2,748	$	3.78

During the year ended December 31, 2022, the Company issued $6.3 million of Treasury shares in lieu of issuing additional authorized common shares in order to satisfy the annual vesting of restricted stock units for its employees and officers.

Aggregate Shares Reserved for Issuance

As of December 31, 2022, an aggregate of 15,096,609 shares of common stock were reserved for issuance upon exercise of outstanding stock options and vesting of outstanding restricted stock units and 8,160,575 additional shares were available for future grants under Lexicon’s equity incentive plans. The Company has a policy of using either authorized and unissued shares or treasury shares, including shares acquired by purchase in the open market or in private transactions, to satisfy equity award exercises.

Benefit Plan	12 Months Ended
Benefit Plan	Dec. 31, 2022
Benefit Plan [Abstract]
Benefit Plan	Benefit Plan Lexicon maintains a defined-contribution savings plan under Section 401(k) of the Internal Revenue Code. The plan covers substantially all full-time employees. Participating employees may defer a portion of their pretax earnings, up to the Internal Revenue Service annual contribution limit. Beginning in 2000, the Company was required to match employee contributions according to a specified formula. The matching contributions totaled $0.7 million, $0.4 million and $0.9 million in the years ended December 31, 2022, 2021 and 2020, respectively. Company contributions are vested based on the employee’s years of service, with full vesting after four years of service.

- Definition

The entire disclosure for retirement benefits.

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-URI https://asc.fasb.org/extlink&oid=123447040&loc=d3e1928-114920

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (d)(iii)
-URI https://asc.fasb.org/extlink&oid=123447040&loc=d3e1928-114920

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (l)
-URI https://asc.fasb.org/extlink&oid=123447040&loc=d3e1928-114920

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (r)(2)
-URI https://asc.fasb.org/extlink&oid=123447040&loc=d3e1928-114920

+ Details

Collaboration and License Agreements	12 Months Ended
Collaboration and License Agreements	Dec. 31, 2022
Collaboration and License Agreements [Abstract]
Collaboration and License Agreements	Collaboration and License Agreements Lexicon has derived substantially all of its revenues from drug discovery and development alliances, target validation collaborations for the development and, in some cases, analysis of the physiological effects of genes altered in knockout mice, product sales, government grants and contracts, technology licenses, subscriptions to its databases and compound library sales. Ipsen. In October 2014, Lexicon entered into a License and Collaboration Agreement, which was subsequently amended in March 2015 (collectively, the “Ipsen Agreement”), with Ipsen for the development and commercialization of XERMELO outside of the United States and Japan (the “Licensed Territory”). Revenue for the year ended December 31, 2020 included $0.3 million of royalties from Ipsen and $1.3 million from sales of bulk tablets of XERMELO to Ipsen. The Ipsen Agreement was assigned to TerSera in September 2020 in connection with the XERMELO sale.

Summary of Significant Accounting Policies (Policies)

12 Months Ended

Dec. 31, 2022

Accounting Policies [Abstract]

Consolidation, Policy

Use of Estimates, Policy

Cash and Cash Equivalents, Policy

Trade and Other Accounts Receivable, Policy

Accounts Receivable: Lexicon records trade accounts receivable in the normal course of business related to the sale of products or services, net of an allowance for expected credit losses.

Concentration Risk Disclosure

Segment Reporting Disclosure

Segment Information and Significant Customers: Lexicon operates in one business segment, which primarily focuses on the discovery, development and commercialization of pharmaceutical products for the treatment of human disease. Substantially all of the Company’s revenues have been derived from drug discovery alliances, target validation collaborations for the development and, in some cases, analysis of the physiological effects of genes altered in knockout mice, technology licenses, subscriptions to its databases, product sales, government grants and contracts and compound library sales. In 2022, one customer represented 100% of revenue.

Property and Equipment

Accrued liabilities: Accrued liabilities consisted of the following:


	As of December 31,
	2022		2021
	(in thousands)
Accrued research and development services	$	3,252	$	3,669
Accrued compensation and benefits	7,830		5,711
Short term lease liability	1,291		1,089
Other	404		2,503
Accrued liabilities	$	12,777	$	12,972

Impairment or Disposal of Long-Lived Assets, Policy

Goodwill and Intangible Assets, Policy

Revenue Recognition, Policy

Revenue Recognition:

Product Revenues

Collaborative Agreements

Cost of Sales

Research and Development Expense, Policy

Share-based Compensation, Option and Incentive Plans Policy

Earnings Per Share, Policy

Income Tax, Policy

Summary of Significant Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2022

Accounting Policies [Abstract]

Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions


	Expected Volatility	Risk-free Interest Rate	Expected Term	Dividend Rate
December 31, 2022:
Employees	109%	2.8%	4	0	%
Officers and non-employee directors	91%	1.9%	7	0	%
December 31, 2021:
Employees	104%	0.7%	4	0	%
Officers and non-employee directors	90%	1.0%	6	0	%
December 31, 2020:
Employees	98%	1.3%	4	0	%
Officers and non-employee directors	85%	1.4%	7	0	%

Cash and Cash Equivalents and Investments (Tables)

12 Months Ended

Dec. 31, 2022

Cash and Cash Equivalents and Investments [Abstract]

Schedule of Cash, Cash Equivalents and Short-term Investments


	As of December 31, 2022
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Estimated Fair Value
			(in thousands)
Cash and cash equivalents	$	46,345	$	—	$	—	$	46,345
Securities maturing within one year:
U.S. treasury securities	74,022		—		(342)		73,680
Corporate debt securities	18,418		—		(86)		18,332
Total short-term investments	$	92,440	$	—	$	(428)	$	92,012
Total cash and cash equivalents and investments	$	138,785	$	—	$	(428)	$	138,357


	As of December 31, 2021
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Estimated Fair Value
			(in thousands)
Cash and cash equivalents	$	64,066	$	—	$	(1)	$	64,065
Securities maturing within one year:
Corporate debt securities	26,018		5		(11)		26,012

Total short-term investments	$	26,018	$	5	$	(11)	$	26,012
Total cash and cash equivalents and investments	$	90,084	$	5	$	(12)	$	90,077

Fair Value Measurements (Tables)

12 Months Ended

Dec. 31, 2022

Fair Value Measurements [Abstract]

Fair Value, by Balance Sheet Grouping


	Assets and Liabilities at Fair Value
	As of December 31, 2022
	Level 1		Level 2		Level 3		Total
	(in thousands)
Assets
Cash and cash equivalents	$	46,345	$	—	$	—	$	46,345
Short-term investments	73,680		18,332		—		92,012
Total cash and cash equivalents and investments	$	120,025	$	18,332	$	—	$	138,357


	Assets and Liabilities at Fair Value
	As of December 31, 2021
	Level 1		Level 2		Level 3		Total
	(in thousands)
Assets
Cash and cash equivalents	$	64,065	$	—	$	—	$	64,065
Short-term investments	7,561		15,117		—		22,678
Total cash and cash equivalents and investments	$	71,626	$	15,117	$	—	$	86,743

Property and Equipment (Tables)

12 Months Ended

Dec. 31, 2022

Property and Equipment [Abstract]

Property, Plant and Equipment


	Estimated Useful Lives	As of December 31,
	In Years	2022		2021
		(in thousands)
Computers and software	3-5	$	2,209	$	3,027
Furniture and fixtures	5-7	1,794		1,692

Leasehold improvements	3-7	2,052		1,310


Total property and equipment		6,055		6,029
Less: Accumulated depreciation and amortization		(3,984)		(4,853)
Net property and equipment		$	2,071	$	1,176

Income Taxes (Tables)

12 Months Ended

Dec. 31, 2022

Income Tax Disclosure [Abstract]

Schedule of Deferred Tax Assets and Liabilities


	As of December 31,
	2022		2021
	(in thousands)
Deferred tax assets:
Net operating loss carryforwards	$	251,331	$	229,427
Research and development tax credits	29,290		29,290
Orphan drug credits	24,524		24,524
Capitalized research and development	33,813		36,770
Stock-based compensation	5,445		5,163

Interest	398		148
Other	2,255		1,308
Total deferred tax assets	347,056		326,630
Deferred tax liabilities:

Other	(1,295)		(412)
Total deferred tax liabilities	(1,295)		(412)
Less: valuation allowance	(345,761)		(326,218)
Net deferred tax liabilities	$	—	$	—

Schedule of Effective Income Tax Rate Reconciliation

A reconciliation of the statutory tax rate to the effective tax rate for the years ended December 31, 2022, 2021 and 2020 consists of the following:


	Year Ended December 31,
	2022		2021		2020
	(in thousands)
Expected income tax expense (benefit) at 21%	$	(21,408)	$	(18,429)	$	(12,300)
State income taxes, net of federal benefit	—		—		(269)
Equity compensation	1,627		851		1,777





Write off of credit carryover due to 382 study	—		—		31,053
Change in valuation allowance	19,543		17,210		(20,418)
Other (1)	238		368		157
Income tax benefit	$	—	$	—	$	—

Commitments and Contingencies (Tables)

12 Months Ended

Dec. 31, 2022

Commitments and Contingencies [Abstract]

Schedule of Future Minimum Rental Payments for Operating Leases



	(in thousands)
2023	$	805
2024	1,378
2025	1,220
2026	865
2027	881
Thereafter	5,644
Total undiscounted operating lease liability	$	10,793
Less: amount of lease payments representing interest	(4,078)
Present value of future lease payments	6,715
Less: short-term operating lease liability	(1,291)
Long-term operating lease liability	$	5,424

Equity Incentive Awards (Tables)

12 Months Ended

Dec. 31, 2022

Equity Incentive Awards [Abstract]

Schedule of Share-based Compensation, Stock Options, Activity


	2022			2021			2020
(in thousands, except exercise price data)	Options	Weighted Average Exercise Price		Options	Weighted Average Exercise Price		Options	Weighted Average Exercise Price
Outstanding at beginning of year	8,367	$	6.80	8,397	$	7.12	7,695	$	8.95
Granted	5,099	2.97		1,808	6.39		3,495	3.24
Exercised	—	—		(376)	4.37		—	—
Expired	(163)	12.50		(191)	12.50		(236)	12.91
Forfeited	(954)	7.41		(1,271)	8.17		(2,557)	6.78
Outstanding at end of year	12,349	5.10		8,367	6.80		8,397	7.12
Exercisable at end of year	5,747	$	7.00	5,032	$	7.99	4,684	$	9.48

Schedule of Nonvested Restricted Stock Units Activity


	Shares	Weighted Average Grant Date Fair Value
	(in thousands)
Outstanding at December 31, 2021	1,854	$	5.16
Granted	2,185	3.15
Vested	(1,012)	4.86
Forfeited	(279)	4.03
Outstanding at December 31, 2022	2,748	$	3.78

Summary of Significant Accounting Policies Concentration of Credit Risk (Details)	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Accounting Policies [Abstract]
Disclosure on Geographic Areas, Revenue from External Customers Attributed to Entity's Country of Domicile, Percent		24.00%	98.00%
Disclosure On Geographic Areas Revenue From External Customers Attributed to Germany	100.00%	76.00%

Summary of Significant Accounting Policies Segment Information and Signficant Customers (Details) - segment	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Accounting Policies [Abstract]
Number of operating segments	1
LXRX Diplomat customer concentration		24.00%	22.00%
Biologics customer concentration		76.00%	65.00%

Summary of Significant Accounting Policies - Property and Equipment (Details) - USD ($) $ in Thousands	1 Months Ended	12 Months Ended
	Aug. 31, 2018	Dec. 31, 2022	Dec. 31, 2021
Property, Plant and Equipment [Line Items]
Estimated useful life of assets	10 years
Accrued research and development services current		$ 3,252	$ 3,669
Accrued compensation and benefits current		7,830	5,711
Operating Lease, Liability, Current		1,291	1,089
Other Accrued Liabilities, Current		404	2,503
Accrued Liabilities		$ 12,777	$ 12,972
Minimum
Property, Plant and Equipment [Line Items]
Estimated useful life of assets		3 years
Maximum
Property, Plant and Equipment [Line Items]
Estimated useful life of assets		40 years

Summary of Significant Accounting Policies Impairment of Long-Lived Assets (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Accounting Policies [Abstract]
Impairment of Intangible Assets (Excluding Goodwill)	$ 0	$ 0
Impairment of Intangible Assets, Indefinite-lived (Excluding Goodwill)	$ 0	$ 0	$ 1,600

Summary of Significant Accounting Policies - Cost of Sales (Details)	12 Months Ended
	Dec. 31, 2020
In-Process Research and Development
Finite-Lived Intangible Assets [Line Items]
Estimated useful life	14 years

Summary of Significant Accounting Policies Stock-Based Compensation (Details 1)	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Employee Service Share-based Compensation, Outstanding, Weighted Average Remaining Vesting Period	1 year 3 months 18 days
Equity Option [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Term, Employees	4 years	4 years	4 years
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Risk Free Interest Rate, Employee	2.80%	0.70%	1.30%
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected VolatilityRate, Employees	109.00%	104.00%	98.00%
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Dividend Rate, Employees	0.00%	0.00%	0.00%
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Risk Free Interest Rate, Officers and Non-employee Directors	1.90%	1.00%	1.40%
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Volatility Rate, Officers and Non-employee Directors	91.00%	90.00%	85.00%
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Dividend Rate, Officers and Non-employee Directors	0.00%	0.00%	0.00%
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Term, Officers and Non-employee Directors	7 years	6 years	7 years

Summary of Significant Accounting Policies Stock-based Compensation (Details 2) $ in Millions	12 Months Ended
	Dec. 31, 2022 USD ($)
Accounting Policies [Abstract]
Employee Service Share-based Compensation, Nonvested Awards, Total Compensation Cost Not yet Recognized	$ 21.0
Employee Service Share-based Compensation, Outstanding, Weighted Average Remaining Vesting Period	1 year 3 months 18 days

Recent Accounting Pronouncements (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Right-of-use assets	$ 6,800	$ 2,300	$ 0

Cash and Cash Equivalents and Investments (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Cash and Cash Equivalents
Realized Investment Gains (Losses)	$ 0
Available-for-sale Securities, Amortized Cost Basis	18,418	$ 26,018
Available-for-sale Securities, Gross Unrealized Gain Accumulated in Investments	0	5
Available-for-sale Securities, Gross Unrealized Losses	(86)	(11)
Available-for-sale Securities, Current	18,332	26,012
Cash
Cash and Cash Equivalents
Available-for-sale Securities, Amortized Cost Basis	46,345	64,066
Available-for-sale Securities, Gross Unrealized Gain Accumulated in Investments	0	0
Available-for-sale Securities, Gross Unrealized Losses	0	1
Available-for-sale Securities, Current	46,345	64,065
US Treasury Securities
Cash and Cash Equivalents
Available-for-sale Securities, Amortized Cost Basis	74,022
Available-for-sale Securities, Gross Unrealized Gain Accumulated in Investments	0
Available-for-sale Securities, Gross Unrealized Losses	(342)
Available-for-sale Securities, Current	73,680
Short-term Investments
Cash and Cash Equivalents
Available-for-sale Securities, Amortized Cost Basis	92,440	26,018
Available-for-sale Securities, Gross Unrealized Gain Accumulated in Investments	0	5
Available-for-sale Securities, Gross Unrealized Losses	(428)	(11)
Available-for-sale Securities, Current	92,012	26,012
Cash and Cash Equivalents and Investments
Cash and Cash Equivalents
Available-for-sale Securities, Amortized Cost Basis	138,785	90,084
Available-for-sale Securities, Gross Unrealized Gain Accumulated in Investments	0	5
Available-for-sale Securities, Gross Unrealized Losses	(428)	(12)
Available-for-sale Securities, Current	$ 138,357	$ 90,077

Fair Value Measurements (Details 1) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Fair Value, Balance Sheet Grouping, Financial Statement Captions
Cash and Cash Equivalents, Fair Value Disclosure	$ 46,345	$ 64,065
Available-for-sale Securities, Fair Value Disclosure	92,012	22,678
Investments, Fair Value Disclosure	138,357	86,743
Fair Value, Level 1
Fair Value, Balance Sheet Grouping, Financial Statement Captions
Cash and Cash Equivalents, Fair Value Disclosure	46,345	64,065
Available-for-sale Securities, Fair Value Disclosure	73,680	7,561
Investments, Fair Value Disclosure	120,025	71,626
Fair Value, Level 2
Fair Value, Balance Sheet Grouping, Financial Statement Captions
Cash and Cash Equivalents, Fair Value Disclosure	0	0
Available-for-sale Securities, Fair Value Disclosure	18,332	15,117
Investments, Fair Value Disclosure	18,332	15,117
Fair Value, Level 3
Fair Value, Balance Sheet Grouping, Financial Statement Captions
Cash and Cash Equivalents, Fair Value Disclosure	0	0
Available-for-sale Securities, Fair Value Disclosure	0	0
Investments, Fair Value Disclosure	$ 0	$ 0

Property and Equipment (Details) - USD ($)	1 Months Ended	12 Months Ended
Property and Equipment (Details) - USD ($)	Aug. 31, 2018	Dec. 31, 2022	Dec. 31, 2020	Dec. 31, 2021
Property, Plant and Equipment [Line Items]
Estimated Useful Lives	10 years
Property, Plant and Equipment, Gross		$ 6,055,000		$ 6,029,000
Accumulated Depreciation, Depletion and Amortization, Property, Plant, and Equipment		(3,984,000)		(4,853,000)
Net property and equipment		2,071,000		1,176,000
Proceeds from Sale of Buildings			$ 11,013,000
Noncash or Part Noncash Divestiture, Amount of Consideration Received		1,300,000
Payments to Acquire Other Property, Plant, and Equipment		$ 1,300,000
Minimum
Property, Plant and Equipment [Line Items]
Estimated Useful Lives		3 years
Maximum
Property, Plant and Equipment [Line Items]
Estimated Useful Lives		40 years
Computers and Software
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Gross		$ 2,209,000		3,027,000
Computers and Software \| Minimum
Property, Plant and Equipment [Line Items]
Estimated Useful Lives		3 years
Computers and Software \| Maximum
Property, Plant and Equipment [Line Items]
Estimated Useful Lives		5 years
Furniture and Fixtures
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Gross		$ 1,794,000		1,692,000
Furniture and Fixtures \| Minimum
Property, Plant and Equipment [Line Items]
Estimated Useful Lives		5 years
Furniture and Fixtures \| Maximum
Property, Plant and Equipment [Line Items]
Estimated Useful Lives		7 years
Leasehold Improvements
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Gross		$ 2,052,000		$ 1,310,000
Leasehold Improvements \| Minimum
Property, Plant and Equipment [Line Items]
Estimated Useful Lives		3 years
Leasehold Improvements \| Maximum
Property, Plant and Equipment [Line Items]
Estimated Useful Lives		7 years

Income Taxes (Details 1) - USD ($) $ in Thousands	12 Months Ended
Income Taxes (Details 1) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Deferred Tax Assets and Liabilities
Deferred Tax Assets, Operating Loss Carryforwards	$ 251,331	$ 229,427
Deferred Tax Assets, Tax Credit Carryforwards, Research	29,290	29,290
Deferred Tax Assets, Tax Credit Carryforwards, Orphan Drug	24,524	24,524
Deferred Tax Assets, In Process Research and Development	33,813	36,770
Deferred Tax Assets, Tax Deferred Expense, Compensation and Benefits, Share-based Compensation Cost	5,445	5,163
Deferred Tax Assets, Other	2,255	1,308
Deferred Tax Assets, Gross	347,056	326,630
Deferred Tax Liabilities, Other	(1,295)	(412)
Deferred Tax Liabilities, Gross	(1,295)	(412)
Deferred Tax Assets, Valuation Allowance	(345,761)	(326,218)
Deferred Tax Liabilities, Net	0	0
Income Tax Benefit	0	0	$ 0
2020 Federal NOL increase	104,000
Deferred Tax Assets, Section 163j_LXRX	398	$ 148
Operating Loss Carryforwards, Federal	1,200,000
Deferred Tax Assets, Operating Loss Carryforwards, Domestic	$ 446,300

Income Taxes (Details 2) - USD ($) $ in Thousands	12 Months Ended
Income Taxes (Details 2) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Income Tax Disclosure [Abstract]
Income Tax Benefit	$ 0	$ 0	$ 0
Valuation Allowance, Deferred Tax Asset, Change in Amount	19,500
Operating Loss Carryforwards, Federal	1,200,000
Operating Loss Carryforwards, State	86,900
Unrecognized Tax Benefits, Income Tax Penalties and Interest Accrued	0	0
Investments, Owned, Federal Income Tax Note [Line Items]
Deferred Tax Assets, Tax Credit Carryforwards, Research	$ 29,290	$ 29,290

Income Taxes (Details 3) - USD ($) $ in Thousands	12 Months Ended
Income Taxes (Details 3) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Income Tax Disclosure [Abstract]
Current State and Local Tax Expense (Benefit)	$ 0	$ 0	$ (269)
Effective Income Tax Rate Reconciliation, Tax Expense (Benefit), Share-based Payment Arrangement, Amount	1,627	851	1,777
Effective Income Tax Rate Reconciliation, Change in Deferred Tax Assets Valuation Allowance, Amount	19,543	17,210	(20,418)
Effective Income Tax Rate Reconciliation at Federal Statutory Income Tax Rate, Amount	(21,408)	(18,429)	(12,300)
Write-off of tax credits	0	0	31,053
Effective Income Tax Rate Reconciliation, Other Adjustments, Amount	238	368	157
Income Tax Benefit	$ 0	$ 0	$ 0
Effective Income Tax Rate Reconciliation, Change in Enacted Tax Rate, Percent	21.00%

Goodwill (Details) - USD ($) $ in Millions	Jul. 30, 2010	Jul. 12, 2001
Goodwill [Abstract]
Coelacanth Goodwill		$ 25.8
Coelacanth Purchase Price		$ 36.0
Symphony Icon Goodwill	$ 18.7

Debt Obligations - Narrative (Details) - USD ($)	1 Months Ended		3 Months Ended	12 Months Ended
Debt Obligations - Narrative (Details) - USD ($)	Aug. 31, 2018	Nov. 30, 2014	Dec. 31, 2022	Dec. 31, 2027	Dec. 31, 2026	Dec. 31, 2025	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020	Jun. 30, 2022	Mar. 31, 2022	Aug. 30, 2018	Dec. 18, 2017
Debt Instrument
Proceeds from Convertible Debt		$ 87,500,000							$ 75,800,000
Convertible Debt Instrument Interest Rate Stated Percentage			5.25%				5.25%
Debt instrument, term	2 years
Recognition of gain or loss on extinguishment	$ 0						$ 0	$ 0	1,003,000
Estimated useful life of assets	10 years
Debt Instrument, Interest Rate, Stated Percentage			7.90%				7.90%
Debt Instrument, Face Amount													$ 150,000,000
Convertible Debt								11,600,000
Convertible Debt Exchange - Total cash consideration									$ 50,000,000
2020 Convertible debt exchange - share payment total									10,368,956
2020 convertible debt exchange - percentage of principal									85.00%
2020 convertible debt exchange - accrued interest									$ 1,300,000
Convertible debt exchange									9,600,000
Mortgage Debt Interest Rate_Base_Revere_LXRX												5.50%
Mortgage Debt Interest Rate BasePlus_Revere_LXRX												7.50%
Mortgage Debt Instrument_Revere_LXRX												$ 12,900,000
Mortgage Debt Balloon Payment_LXRX												$ 10,300,000
Long-Term Debt, Percentage Bearing Fixed Interest, Percentage Rate			8.01%				8.01%
Term Loan A Warrant Exercise Price			$ 1.95				$ 1.95			$ 2.08
Subordinated Borrowing, Interest Rate			12.04%
Term Loan D Warrant %			0.875%				0.875%
Term Loan A Final Payment			$ 1,500,000				$ 1,500,000
Final Payment % with extention			7.00%				7.00%
Final Payment % with no extention			6.00%				6.00%
Term Loan A Debt Issuance Costs			$ 350,000				$ 350,000
Oxford Facility Fee			500,000				500,000
Term Loan A Net Cash Receipt			24,150,000				24,150,000
Adjustments to Additional Paid in Capital, Warrant Issued			300,000				700,000
Interest Expense							2,780,000	$ 802,000	$ 14,544,000
Term Loan A Debt Discount			$ 4,400,000				$ 4,400,000
Term Loan C Warrant %			1.75%				1.75%
Term Loan A Warrants Number			224,128				224,128			420,673
Term Loan A&B Warrant %			3.50%				3.50%
Term Loan B			$ 25,000,000				$ 25,000,000
2026 Oxford Principal Payments					$ 13,000,000
Oxford Loan Facility			150,000,000				150,000,000
Oxford Amendment Fee			300,000				300,000
Term Loan A											$ 25,000,000
Term Loan C			50,000,000				50,000,000
Term Loan D			50,000,000				50,000,000
Long-term Debt, Gross			48,600,000				48,600,000
Long-Term Debt, Gross			$ (48,579,000)				$ (48,579,000)
2027 Oxford Principal Payments A				$ 4,800,000
2025 Oxford Principal Payment A						$ 8,700,000
2025 Oxford Principal Payments B						$ 8,700,000
2026 Oxford Principal Payments B					$ 13,000,000
2027 Oxford Principal Payments B				$ 4,800,000
Debt, Weighted Average Interest Rate			9.00%				9.00%
Term Loan B Net Cash Receipt			$ 24,960,000				$ 24,960,000
Term Loan B Debt Discount			$ 40,000.00				40,000.00
Interest Expense, Interest-Bearing Liability							$ 2,800,000

Debt Obligations (Details 1) $ in Thousands	Dec. 31, 2021 USD ($)
Debt Obligations [Abstract]
Long-term Debt, Excluding Current Maturities	$ 0

Commitments and Contingencies - Narrative (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Deferred Compensation Arrangement with Individual, Excluding Share-based Payments and Postretirement Benefits [Line Items]
Right-of-use assets	$ 6,800	$ 2,300	$ 0
Other Assets		2,269
Operating Leases, Rent Expense	$ 1,700	$ 1,800
Finance Lease, Weighted Average Remaining Lease Term	9 years 6 months	2 years 10 months 24 days
Minimum
Deferred Compensation Arrangement with Individual, Excluding Share-based Payments and Postretirement Benefits [Line Items]
Payment period	6 months
Maximum
Deferred Compensation Arrangement with Individual, Excluding Share-based Payments and Postretirement Benefits [Line Items]
Payment period	12 months

Commitments and Contingencies (Details 2) - USD ($)	12 Months Ended
Commitments and Contingencies (Details 2) - USD ($)	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Commitments and Contingencies [Abstract]
Operating Leases, Future Minimum Payments Due, Next Twelve Months	$ 805,000,000
Operating Leases, Future Minimum Payments, Due in Two Years	1,378,000,000
Operating Leases, Future Minimum Payments, Due in Three Years	1,220,000
Operating Leases, Future Minimum Payments, Due in Four Years	865,000
Operating Leases, Future Minimum Payments, Due in Five Years	881,000
Operating Leases, Future Minimum Payments, Due Thereafter	5,644,000
Operating Leases, Future Minimum Payments Due	10,793,000
Interest on Lease Payments	(4,078,000)
Present Value of Future Lease Payments	6,715,000
Short-term Lease Commitment, Amount	(1,291,000)	$ (1,100,000)
Long-term Debt and Lease Obligation	5,424,000	1,200,000
Right-of-use assets	6,800,000	2,300,000	$ 0
Deferred Compensation Arrangement with Individual, Excluding Share-based Payments and Postretirement Benefits [Line Items]
Operating Leases, Rent Expense	$ 1,700,000	$ 1,800,000

Commitments and Contingencies (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Other Commitments [Line Items]
Payments for Rent	$ 1,100	$ 800
Finance Lease, Weighted Average Remaining Lease Term	9 years 6 months	2 years 10 months 24 days
Finance Lease, Weighted Average Discount Rate, Percent	9.60%	9.00%
Right-of-use assets	$ 6,800	$ 2,300	$ 0

Equity Incentive Awards - Narrative (Details) - USD ($)	12 Months Ended
Equity Incentive Awards - Narrative (Details) - USD ($)	Dec. 31, 2022	Dec. 31, 2021
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock Option Exercise Price as Percent of Value of Common Stock	100.00%
Total Shares That May be Issued, Equity Incentive Plan	30,000,000
Options Outstanding, Equity Incentive Plan	11,847,723
Restricted Stock Units Outstanding, Equity Incentive Plan	2,559,306
Stock Options Exercised, Equity Incentive Plan	2,285,702
Shares Issued Pursuant to Restricted Stock Units, Equity Incentive Plan	5,294,942
Shares Issued Pursuant to Stock Bonus Awards, Equity Incentive Plan	113,940
Total value of shares by nonemployee in a year	$ 500,000
Total Shares That May Be Issued, Non-Employee Directors Equity Incentive Plan	1,200,000
Options Outstanding, Non-Employee Directors Equity Incentive Plan	501,224
Stock Options Exercised, Non-Employee Directors Equity Incentive Plan	0
Shares Issued Pursuant to Restricted Stock Awards, Non-Employee Directors Equity Incentive Plan	248,232
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized	15,096,609
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant	8,160,575
Restricted Stock Units Outstanding, Non-Employee Directors Equity Incentive Plan	74,416
Treasury Stock, Value	$ 2,061,000	$ 7,518,000
Unearned ESOP Shares	6,321,000
Treasury Stock, Preferred, Value	$ 6,300,000
Stock Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period	4 years
Award term	10 years
Restricted Stock \| Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period	3 years

Equity Incentive Awards (Details 2) - USD ($) $ / shares in Units, shares in Thousands, $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Share-based Compensation Arrangement by Share-based Payment Award
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Weighted Average Grant Date Fair Value	$ 2.30	$ 4.85	$ 2.35
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period, Total Intrinsic Value	$ 0.0
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Remaining Contractual Term	7 years 2 months 12 days
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Weighted Average Remaining Contractual Term	5 years 3 months 18 days
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Intrinsic Value	$ 0.1
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Intrinsic Value	$ 0.0
Stock Options
Share-based Compensation Arrangement by Share-based Payment Award
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number	12,349	8,367	8,397	7,695
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price	$ 5.10	$ 6.80	$ 7.12	$ 8.95
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross	5,099	1,808	3,495
Share-based Compensation Arrangements by Share-based Payment Award, Options, Grants in Period, Weighted Average Exercise Price	$ 2.97	$ 6.39	$ 3.24
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period	0	(376)	0
Share-based Compensation Arrangements by Share-based Payment Award, Options, Exercises in Period, Weighted Average Exercise Price	$ 0	$ 4.37	$ 0
Share-based Compensation Arrangement by Share-based Payment Award, Options, Expirations in Period	(163)	(191)	(236)
Share-based Compensation Arrangements by Share-based Payment Award, Options, Expirations in Period, Weighted Average Exercise Price	$ 12.50	$ 12.50	$ 12.91
Share-based Compensation Arrangement by Share-based Payment Award, Options, Forfeitures in Period	(954)	(1,271)	(2,557)
Share-based Compensation Arrangements by Share-based Payment Award, Options, Forfeitures in Period, Weighted Average Exercise Price	$ 7.41	$ 8.17	$ 6.78
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Number	5,747	5,032	4,684
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Weighted Average Exercise Price	$ 7.00	$ 7.99	$ 9.48

Equity Incentive Awards (Details 3) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Share-based Compensation Arrangement by Share-based Payment Award
Share-based Compensation Arrangement by Share-based Payment Award, Stock Bonus and Restricted Stock, Grants in Period	74,416	32,192	85,104
Share-based Compensation Arrangement by Share-based Payment Award, Stock Bonus and Restricted Stock to Consultants, Grants in Period, Weighted Average Grant Date Fair Value	$ 1.77	$ 5.04	$ 1.86
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period, Fair Value	$ 2,900	$ 8,700	$ 3,200

Equity Incentive Awards (Details 4) - Restricted Stock Units (RSUs) - $ / shares shares in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Share-based Compensation Arrangement by Share-based Payment Award
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number	2,748	1,854
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value	$ 3.78	$ 5.16
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period	2,185
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value	$ 3.15
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period	(1,012)
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period, Weighted Average Grant Date Fair Value	$ 4.86
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Forfeited in Period	(279)
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Forfeited in Period, Weighted Average Fair Value	$ 4.03

Benefit Plan (Details) - USD ($) $ in Millions	12 Months Ended
Benefit Plan (Details) - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Benefit Plan [Abstract]
Defined Contribution Plan, Cost	$ 0.7	$ 0.4	$ 0.9
Years of service	4 years

Collaboration and License Agreements (Details) $ in Millions	12 Months Ended
	Dec. 31, 2020 USD ($)
Collaboration and License Agreements [Abstract]
Ipsen Revenue Recognized	$ 0.3
Ipsen product sales	$ 1.3

Earnings Per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Earnings Per Share [Abstract]
Net Income (Loss) Attributable to Parent	$ (101,944)	$ (87,758)	$ (58,574)
Earnings Per Share, Basic	$ (0.62)	$ (0.60)	$ (0.53)
Weighted Average Number of Shares Issued, Basic	165,733	145,652	110,841

- Definition

The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period.

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The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

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+ Details

Selected Quarterly Financial Data (Unaudited) - Quarterly Financial Information (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Condensed Financial Statements, Captions
Revenues	$ 139	$ 298	$ 23,995
Income (Loss) From Operations	(100,760)	(87,090)	(47,800)
Net loss	$ (101,944)	$ (87,758)	$ (58,574)
Weighted Average Number of Shares Issued, Basic	165,733	145,652	110,841
Earnings Per Share, Basic	$ (0.62)	$ (0.60)	$ (0.53)

- Definition

The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period.

+ References

+ Details

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References

+ Details

- Definition

Amount of revenue recognized from goods sold, services rendered, insurance premiums, or other activities that constitute an earning process. Includes, but is not limited to, investment and interest income before deduction of interest expense when recognized as a component of revenue, and sales and trading gain (loss).

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+ Details

Asset Sale (Details) - USD ($) $ in Thousands	12 Months Ended
Asset Sale (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Asset Retirement Obligation Disclosure [Abstract]
Proceeds from Sale of Productive Assets	$ 0	$ 0	$ 160,385
Discontinued Operation, Income (Loss) from Discontinued Operation, before Income Tax			(12,200)
Severance Costs			5,500
Debt Instrument
Severance Costs			5,500
Gain on sale of non-financial assets	$ 0	$ 0	132,585
Final Consideration including amounts released to settle			160,000
Gain (Loss) on Disposition of Proved Property			(132,585)
541713 Research and Development in Nanotechnology
Asset Retirement Obligation Disclosure [Abstract]
Severance Costs			2,500
Debt Instrument
Severance Costs			2,500
General and Administrative Expense
Asset Retirement Obligation Disclosure [Abstract]
Severance Costs			3,000
Debt Instrument
Severance Costs			$ 3,000

Other Capital Agreements (Details) - USD ($)	12 Months Ended
Other Capital Agreements (Details) - USD ($)	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Equity [Abstract]
Sale of Stock, Number of Shares Issued in Transaction			20,312,500
Shares Issued, Price Per Share			$ 3.20
Proceeds from December 2020 common stock offering			$ 63,000,000
Commissions from December 2020 Common Stock Offering			1,800,000
Offering expenses from December 20 common stock offering			$ 200,000
Shares sold in Nov 2020 ATM Offering			3,709,233
Share price in November 20 ATM Offering			$ 1.992
Proceeds from Nov 2020 ATM Offering			$ 7,000,000
Shares sold in January 2021 ATM offering		2,000,000
Share price in January 2021 ATM Offering		8.463
Proceeds from January 2021 ATM Offering		$ 16,400,000
Shares sold in September 2021 ATM offering		4,176,953
Share Price in September 2021 ATM Offering		4.732
Proceeds from September 2021 ATM Offering		$ 19,100,000
Proceeds from July 2022 Offering	$ 94,200,000
Shares sold in July 2022 Offering	39,100,000
Share Price in July 2022 Offering	$ 2.50
Subsequent Event [Line Items]
ATM Offering 2020 Total	$ 50,000,000