Lexicon Pharmaceuticals, Inc. (Nasdaq: LXRX) has finalized its previously announced public offering and concurrent private placement. The company sold 32 million shares of common stock in the public offering at $1.30 per share. Additionally, it completed a private placement of 22.4 million common shares and 367,145 shares of Series B convertible preferred stock, priced at $65 per share.
The combined transactions raised approximately $94.6 million and closed on February 2, 2026. These capital-raising efforts are part of Lexicon’s ongoing strategy to support its business operations and growth initiatives.
**Why this matters**
The successful completion of these offerings provides Lexicon with additional financial resources to advance its research and development programs. This funding may enhance the company’s ability to invest in new projects and strengthen its market position.
Source: NewsData