Lexicon Pharmaceuticals, Inc. closed a public offering, selling 32 million shares of common stock at $1.30 per share and a private placement of 22.4 million shares of common stock and 367,145 shares of Series B Convertible Preferred Stock at $65 per share on February 2, 2026. The underwriters have a 30-day option to purchase an additional 4.8 million shares of common stock. The net proceeds will fund research and development of drug candidates. Jefferies and Piper Sandler are acting as book-running managers. The shares have not been registered under the Securities Act. Lexicon is a biopharmaceutical company focused on transforming patients’ lives through innovative medicines.

Read more at GlobeNewswire: Lexicon Announces Closing of Approximately $94.6 Million