THE WOODLANDS, Texas — February 6, 2026 — Leads & Copy — Lexicon Pharmaceuticals, Inc. (Nasdaq: LXRX) has closed its previously announced underwritten public offering of 32,000,000 shares of its common stock, par value $0.001, and concurrent private placement of 22,400,000 shares of common stock and 367,145 shares of series b convertible preferred stock.
The shares of common stock offered were sold at a public offering price of $1.30 per share, and the preferred stock was sold at $65 per share. The offerings closed on February 2, 2026.
Lexicon granted the underwriters a 30-day option to purchase up to an additional 4,800,000 shares of common stock at the public offering prices, less underwriting discounts and commissions. That option remains outstanding.
An affiliate of Invus, L.P. has the option to purchase up to an additional 94,855 shares of Series B Convertible Preferred Stock, which are convertible into 4,742,744 shares of common stock, at a price of $65.00 per share of Series B Convertible Preferred Stock, to the extent the underwriters exercise their option to purchase additional shares of common stock.
The optional securities being offered to the Private Placement Purchaser will not be registered under the Securities Act of 1933, as amended.
Both the option held by the underwriters to purchase additional shares of common stock and the option held by the Private Placement Purchaser to purchase additional shares of Series B Convertible Preferred Stock will expire 30 days after the closing of the issuances.
Lexicon intends to use the net proceeds from the offering and the concurrent private placement, including any proceeds from the exercise of either option to purchase additional shares, (i) to fund the continued research and development of its drug candidates and (ii) for working capital and other general corporate purposes.
Jefferies and Piper Sandler are acting as joint book-running managers for the public offering. H.C. Wainwright & Co. is acting as lead manager for the public offering.
A shelf registration statement on Form S-3 relating to the public offering was filed with the U.S. Securities and Exchange Commission on August 2, 2024 and declared effective by the SEC on August 15, 2024 (File No. 333-281208). The shares of common stock issued in the concurrent private placement have not been registered under the Securities Act, or the securities laws of any state or other jurisdiction in the United States, and may not be offered, pledged, sold, delivered or otherwise transferred, directly or indirectly, in the United States except pursuant to registration under the Securities Act or an applicable exemption from the registration requirements of the Securities Act and, in each case, in compliance with other applicable securities laws.
A preliminary prospectus supplement, accompanying prospectus relating to the public offering and final prospectus supplement have been filed with the SEC and are available on the SEC’s website.
Lexicon is a biopharmaceutical company with a mission of pioneering medicines that transform patients’ lives. Lexicon has a pipeline of drug candidates in discovery and clinical and preclinical development in neuropathic pain, hypertrophic cardiomyopathy (HCM), obesity, metabolism and other indications.
Source: Lexicon Pharmaceuticals, Inc.
