---
schema_version: "secwatch.filing_event.v1"
accession: "0001062822-26-000094"
form_type: "8-K"
ticker: "LXRX"
cik: "0001062822"
company_name: "LEXICON PHARMACEUTICALS, INC."
filed_at: "2026-05-06T23:59:59+00:00"
generated_at: "2026-05-14T22:27:19.400107+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# Lexicon secures $100M loan facility from Hercules Capital; $55M funded at closing

## Summary
- Initial $55M tranche drawn at closing to repay existing Oxford Finance loan; second $20M and third $25M tranches available subject to milestones.
- Interest rate = prime + 3.10% with 9.85% floor; initial 18-month interest-only period extendable to 30 months upon achieving clinical/regulatory milestones.
- Loan matures May 4, 2030; secured by first lien on all assets; minimum cash covenant starts June 1, 2027.
- Hercules received warrants to buy 691,823 shares at $1.59 per share; additional warrants up to 566,037 shares upon future tranche draws.
- Funds support Lexicon's late-stage cardiometabolic pipeline including sotagliflozin HCM trial and potential regulatory filings.

## SEC filing metadata
- accession: 0001062822-26-000094
- form_type: 8-K
- ticker: LXRX
- cik: 0001062822
- company_name: LEXICON PHARMACEUTICALS, INC.
- filed_at: 2026-05-06T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 1.01, 2.03, 3.02, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1062822/000106282226000094/0001062822-26-000094-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1062822/000106282226000094/lxrx-20260504.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001062822-26-000094
- JSON: https://secwatch.observer/filing/0001062822-26-000094.json
- Plain text: https://secwatch.observer/filing/0001062822-26-000094.txt

## Source-grounded claims
- claim_id: 149edfb578accf5e88e4c346b388bca003e13f0c
  claim: LEXICON PHARMACEUTICALS, INC. incurred credit facility of up to $100 million in borrowing capacity with Hercules Capital, Inc. and certain of its affiliates at prime rate plus 3.10%, but not less than 9.85% maturing May 2030.
  evidence_excerpt: On May 4, 2026, Lexicon Pharmaceuticals, Inc. (" Lexicon ") and its subsidiaries entered into a loan and security agreement with Hercules Capital, Inc. and certain of its affiliates (" Hercules ") that provides up to $100 million in borrowing capacity (the " Hercules Term Loans ") available in three tranches, each maturing in May 2030.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1062822/000106282226000094/0001062822-26-000094-index.htm
- claim_id: 43742554bb6608ff63d5b937339afda5ec688408
  claim: LEXICON PHARMACEUTICALS, INC. entered into Loan and Security Agreement with Hercules Capital, Inc. and certain of its affiliates valued at up to $100 million (effective 2026-05-04).
  evidence_excerpt: On May 4, 2026, Lexicon Pharmaceuticals, Inc. (“ Lexicon ”) and its subsidiaries entered into a loan and security agreement with Hercules Capital, Inc. and certain of its affiliates (“ Hercules ”) that provides up to $100 million in borrowing capacity
  evidence_url: https://www.sec.gov/Archives/edgar/data/1062822/000106282226000094/0001062822-26-000094-index.htm

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