08:38 AM EDT, 03/23/2026 (MT Newswires) -- Lexicon Pharmaceuticals ( LXRX ) and Novo Nordisk ( NVO ) said Monday that Novo Nordisk ( NVO ) has initiated a phase 1 study with LX9851 as a treatment for obesity and associated metabolic disorders.

The companies said Lexicon earned a second $10 million milestone payment in 2026 from Novo Nordisk ( NVO ) after the initial dosing requirements in the phase 1 study and is eligible for a third $10 million milestone payment later this year.

Lexicon is eligible for up to $1 billion in upfront and milestone payments, as well as tiered royalties on net sales, the companies said.

The 96-patient study is investigating the safety and efficacy of various doses of LX9851 compared with placebo, the companies said.