Lexicon licenses LX9851 to Novo Nordisk for $45M upfront; amends Oxford loan with $45M prepayment

LEXICON PHARMACEUTICALS, INC.

Exclusive worldwide license to Novo Nordisk for LX9851 (obesity/cardiometabolic); Lexicon receives $45M upfront, eligible for up to $485M regulatory/commercial milestones and $475M sales milestones.
Lexicon entitled to tiered single- to low-double-digit royalties on annual net sales; Novo Nordisk responsible for development and commercialization.
Lexicon amended its Oxford loan, using $45M upfront to prepay $42.06M principal plus $2.94M final payment; prepayment fee waived.
Loan amendment modifies amortization date to May 1, 2027 (or Dec 1, 2026 if certain event fails) and replaces net sales covenant with minimum cash covenant of $29M or 50% of outstanding principal.

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.