Lexicon launches public offering, private placement; reports $125.2M cash, Novo milestone, clinical timelines

LEXICON PHARMACEUTICALS, INC.

Underwritten public offering of common stock launched; Jefferies and Piper Sandler joint book-running managers.
Concurrent private placement to Invus affiliate via preemptive right; option to purchase additional shares pro rata.
Preliminary cash position $125.2M (unaudited) as of year-end 2025; $10M milestone received from Novo Nordisk in Jan 2026.
SONATA-HCM (sotagliflozin) Phase 3 enrollment completion expected mid-2026; topline data Q1 2027.
NDA resubmission for ZYNQUISTA in type 1 diabetes potentially in 2026, supported by STENO1 safety data.

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