---
schema_version: "secwatch.filing_event.v1"
accession: "0001062822-25-000019"
form_type: "8-K"
ticker: "LXRX"
cik: "0001062822"
company_name: "LEXICON PHARMACEUTICALS, INC."
filed_at: "2025-03-28T23:59:59+00:00"
generated_at: "2026-05-24T02:52:59.573044+00:00"
event_type: "other_material"
sentiment: "positive"
materiality_score: 0.9
calibrated_materiality_score: 0.9
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0001062822-25-000019
- form_type: 8-K
- ticker: LXRX
- cik: 0001062822
- company_name: LEXICON PHARMACEUTICALS, INC.
- filed_at: 2025-03-28T23:59:59+00:00
- event_type: other_material
- sentiment: positive
- materiality_score: 0.9
- calibrated_materiality_score: 0.9
- confidence: high
- sec_items: 1.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1062822/000106282225000019/0001062822-25-000019-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1062822/000106282225000019/lxrx-20250327.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001062822-25-000019
- JSON: https://secwatch.observer/filing/0001062822-25-000019.json
- Plain text: https://secwatch.observer/filing/0001062822-25-000019.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.