Lexicon Pharma slides after stock offering unveil

Lexicon Pharmaceuticals

29/01/2026 22:14

** Shares of Lexicon Pharmaceuticals LXRX.O down 5.6% in extended trading to $1.36 as co seeks equity raise

    ** Texas-based LXRX commences proposed stock offering; deal size not disclosed

    ** It also intends to sell stock in private placement to an affiliate of Invus, LP, its largest stockholder, concurrently with the public offering

    ** Co to use net offering proceeds from the transactions to fund continued R&D of its drug candidates and for working capital and other general purposes

    ** Jefferies and Piper Sandler joint book
    runners

    ** LXRX shares on Jan 21 jumped 19% to close at $1.56 after co said U.S. FDA cleared late‑stage trial of diabetic nerve‑pain drug, pilavapadin

    ** Shares ended session on Thurs down 4% at $1.44. Stock up 25% to begin the year and up ~74% over the past 12 months

    ** Co has roughly $550 mln market cap based on ~363.5 mln shares outstanding as of Jan 26, per the prospectus

    ** 3 of 5 analysts rate the stock "strong buy" or "buy", 2 rate "hold"; median PT $2.10, LSEG data reflects

(Lance Tupper is a Reuters market analyst. The views expressed are his own)

((lance.tupper@tr.com 1-646-279-6380))