LEXICON PHARMACEUTICALS, INC. (LXRX) SEC Filings

Lexicon Pharmaceuticals, Inc. is registering for resale up to 1,257,856 shares of common stock issuable upon exercise of warrants held by lending entities affiliated with Hercules Capital under a May 4, 2026 Loan and Security Agreement. These shares may be sold from time to time by the selling stockholders using a shelf registration statement.

The company will not receive any proceeds from sales of these shares by the selling stockholders. The warrants are exercisable immediately, expire five years from issuance, and carry an exercise price of $1.59 per share. As of August 4, 2026, Lexicon had 444,955,934 shares of common stock outstanding out of 900,000,000 authorized. The stock trades on Nasdaq under the symbol “LXRX,” with a closing price of $2.45 on August 5, 2026.

Invus and its affiliates own approximately 50.5% of the outstanding common stock and hold director designation, registration, preemptive and consent rights that can influence governance and potential change-of-control transactions. The company describes anti-takeover protections under Delaware law and its charter, along with standard indemnification provisions for directors and officers.

Lexicon Pharmaceuticals, Inc. reported total revenues of $0.7 million for the quarter ended June 30, 2026, down from $28.9 million a year earlier, as the prior-year period included substantial licensing revenue from its Novo Nordisk agreement. Six‑month revenues were $21.8 million versus $30.1 million in 2025, with 2026 including $20 million of Novo Nordisk development milestones and modest INPEFA product sales. The company recorded a net loss of $31.8 million ($0.07 per share) in Q2 2026 versus net income of $3.3 million in Q2 2025, and a six‑month net loss of $32.8 million ($0.08 per share) versus a $22.0 million loss a year earlier.

As of June 30, 2026, Lexicon held $190.6 million in cash, cash equivalents, short‑term investments and restricted cash, up from $125.2 million at year‑end 2025, after using $23.9 million in operating cash in the first half. Liquidity was strengthened by approximately $96.2 million of net proceeds from February 2026 common and Series B preferred stock issuances and a new $100 million Hercules Term Loan, of which $55 million was initially funded and largely used to repay $54.3 million of Oxford term loans, generating a $4.3 million loss on early extinguishment and eliminating a $29 million restricted‑cash requirement. The Hercules facility bears interest at a floor rate of 9.85% and matures in 2030.

Strategically, Lexicon continues U.S. commercialization of INPEFA for heart failure and advances its pipeline: the SONATA‑HCM Phase 3 trial of sotagliflozin in hypertrophic cardiomyopathy, regulatory efforts for ZYNQUISTA in type 1 diabetes including ongoing Notice of Opportunity for Hearing proceedings and potential NDA resubmission supported by third‑party safety data, and partnering discussions for pilavapadin after positive Phase 2 data in diabetic peripheral neuropathic pain. LX9851, licensed to Novo Nordisk, is in Phase 1 for obesity. Management notes it has incurred an accumulated deficit of about $2.1 billion and states that while current cash and expected collaboration revenues are believed sufficient for at least the next 12 months, additional capital and collaborations will be needed over time, particularly to fund Phase 3 development of pilavapadin.

FMR LLC filed an amended Schedule 13G reporting significant ownership in Lexicon Pharmaceuticals, Inc. common stock. FMR LLC is shown as beneficially owning 51,782,044.66 shares, representing 11.7% of the outstanding common stock, with sole dispositive power over that amount.

Abigail P. Johnson is also reported as having sole dispositive power over the same 51,782,044.66 shares, equal to 11.7% of the class. Within this position, Fidelity Growth Company Commingled Pool holds 24,673,450 shares, described as 5.6% of Lexicon’s total outstanding common stock as of June 30, 2026.

Lexicon Pharmaceuticals reported second quarter 2026 results, with total revenues of $0.7 million, all from INPEFA net product sales, compared with $28.9 million a year earlier that included substantial licensing revenue from Novo Nordisk. Research and development expenses rose to $17.4 million and selling, general and administrative expenses to $9.8 million, resulting in a net loss of $31.8 million, or $0.07 per share, versus net income of $3.3 million in the prior-year quarter.

Cash and investments were $190.6 million as of June 30, 2026, supported by $96.2 million of equity proceeds in February and a new $100 million loan facility with Hercules Capital, of which $55 million was drawn to refinance previous debt. Enrollment has been completed in the pivotal Phase 3 SONATA-HCM trial of sotagliflozin, with topline data expected in the first quarter of 2027, while an NDA resubmission for ZYNQUISTA in type 1 diabetes is anticipated in the fourth quarter of 2026. Novo Nordisk advanced LX9851 into Phase 1 for obesity, and Lexicon highlighted the potential for up to $1 billion in milestones and tiered royalties under that license.

LEXICON PHARMACEUTICALS, INC. director Judith L. Swain exercised restricted stock units into common shares. She acquired 89,312 shares of common stock at a stated price of $0.00 per share through the conversion of restricted stock units. Following this transaction, she directly holds 174,486 common shares. The restricted stock units represented a contingent right to receive one common share per unit and vested in full on the first anniversary of the grant date.

Lexicon Pharmaceuticals director Diane E. Sullivan reported the vesting and exercise of restricted stock units into common shares. On June 3, 2026, 89,312 restricted stock units converted into 89,312 shares of common stock at a stated price of $0.00 per share, reflecting stock-based compensation rather than a market purchase. Following this transaction, Sullivan directly owned 126,122 shares of common stock. Footnotes explain that each restricted stock unit represented a contingent right to receive one share and that the award vested in full on the first anniversary of its grant date.

LEXICON PHARMACEUTICALS director Christopher J. Sobecki exercised restricted stock units into common shares. He converted 89,312 restricted stock units into 89,312 shares of common stock, consistent with each unit representing one share. Following this stock-based compensation event, he directly holds 293,177 shares of common stock.

Lexicon Pharmaceuticals director Ivan Cheung exercised restricted stock units into common shares. On June 3, 2026, Cheung converted 89,312 restricted stock units into 89,312 shares of common stock at a price of $0.00 per share, a non-cash equity award event.

Following the transaction, Cheung directly holds 89,312 common shares and no restricted stock units remain from this grant. Each restricted stock unit represented a contingent right to receive one share of common stock, vesting in full on the first anniversary of the grant date.

LEXICON PHARMACEUTICALS director Sam L. Barker exercised restricted stock units into common shares. On 2026-06-03, 89,312 restricted stock units converted into 89,312 shares of common stock at a stated price of $0.00 per share, reflecting equity compensation rather than an open‑market trade.

Following this conversion, Barker directly owns 213,771 shares of common stock. The footnotes explain that each restricted stock unit represented a contingent right to receive one share of common stock, and that the award vested in full on the first anniversary of its grant date.