Lexicon Announces $94.6 Million Public Offering and Private Placement

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Lexicon Pharmaceuticals, Inc. has announced the closing of a $94.6 million public offering and concurrent private placement. The company sold 32 million shares of common stock in the public offering and 22.4 million shares of common stock and 367,145 shares of convertible preferred stock in the private placement. Lexicon plans to use the proceeds to fund continued research and development of its drug candidates as well as for general corporate purposes.

Why it matters

The capital raise will provide Lexicon with the resources needed to advance its pipeline of drug candidates targeting neuropathic pain, hypertrophic cardiomyopathy, obesity, and other indications. As a biopharmaceutical company, Lexicon's ability to secure funding is crucial for its long-term success and ability to bring new treatments to patients.

The details

Lexicon sold the shares at $1.30 per share for the common stock and $65 per share for the preferred stock. The underwriters also have a 30-day option to purchase up to an additional 4.8 million shares of common stock. An affiliate of Invus, L.P. has the option to purchase up to an additional 94,855 shares of convertible preferred stock.

• The offerings closed on February 2, 2026.
• The underwriters' and private placement purchaser's options will expire 30 days after the closing.

What’s next

Lexicon will have 30 days to decide whether to allow the underwriters and private placement purchaser to exercise their options to purchase additional shares.