Lexicon (LXRX) to Offer 33M Common Shares

Lexicon Pharmaceuticals Inc. (Nasdaq: LXRX) today announced the pricing of a public offering of 33,333,333 shares of its common stock at $1.50 per share, of which 19,894,076 shares are being offered through the underwriters and 13,439,257 shares are being offered to Invus, L.P., Lexicon's largest stockholder.

Lexicon has also granted the underwriters a 30-day option to purchase up to an aggregate of 2,984,111 additional shares of common stock to cover over-allotments, if any. Morgan Stanley is acting as the sole book-runner for the offering, with Thomas Weisel Partners LLC acting as co-manager.