THE WOODLANDS, Texas, Feb. 06, 2026 (GLOBE NEWSWIRE) -- Lexicon Pharmaceuticals, Inc. (NASDAQ:LXRX) ("Lexicon") today announced the closing of 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 "Series B Convertible Preferred Stock"). The shares of common stock offered pursuant to the public offering were sold at a public offering price of $1.30 per share and the shares of preferred stock were sold at a price of $65 per share. The offerings closed on February 2, 2026.

In addition to the shares sold in the underwritten public offering, 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, which remains outstanding. An affiliate of Invus, L.P. (the "Private Placement Purchaser") 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 (the "Securities Act"). 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 ...