Avicenna entities report 1.54M Lexicon Pharmaceuticals (LXRX) stake

Rhea-AI Filing Summary

Avicenna Life Sci Master Fund LP and its general partner Avicenna Life Sci Master GP LLC reported their initial insider status in Lexicon Pharmaceuticals. As of February 2, 2026, the fund indirectly beneficially owned 1,538,462 shares of Lexicon common stock.

The filing identifies both Avicenna entities as a director and 10% owner group, with the common stock directly held by Avicenna Life Sci Master Fund LP. The reporting persons disclaim beneficial ownership of securities held by the other related reporting persons except to the extent of their pecuniary interest.

SEC Form 3

FORM 3

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

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1. Name and Address of Reporting Person^*

Avicenna Life Sci Master Fund LP

(Last) (First) (Middle)

750 LEXINGTON AVENUE, 30TH FLOOR

(Street)

NEW YORK NY 10022

(City) (State) (Zip)

2. Date of Event Requiring Statement (Month/Day/Year)
02/02/2026

3. Issuer Name and Ticker or Trading Symbol
LEXICON PHARMACEUTICALS, INC. [ LXRX ]

4. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director	X	10% Owner
	Officer (give title below)		Other (specify below)

5. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

	Form filed by One Reporting Person
X	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Beneficially Owned
1. Title of Security (Instr. 4)	2. Amount of Securities Beneficially Owned (Instr. 4)	3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	4. Nature of Indirect Beneficial Ownership (Instr. 5)
Common Stock	1,538,462	I(1)(2)	See Footnotes(1)(2)

Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 4)	2. Date Exercisable and Expiration Date (Month/Day/Year)		3. Title and Amount of Securities Underlying Derivative Security (Instr. 4)		4. Conversion or Exercise Price of Derivative Security	5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

1. Name and Address of Reporting Person^*

Avicenna Life Sci Master Fund LP

(Last) (First) (Middle)

750 LEXINGTON AVENUE, 30TH FLOOR

(Street)

NEW YORK NY 10022

(City) (State) (Zip)

Relationship of Reporting Person(s) to Issuer

X	Director	X	10% Owner
	Officer (give title below)		Other (specify below)

1. Name and Address of Reporting Person^*

Avicenna Life Sci Master GP LLC

(Last) (First) (Middle)

750 LEXINGTON AVENUE 30TH FLOOR

(Street)

NEW YORK NY 10022

(City) (State) (Zip)

Relationship of Reporting Person(s) to Issuer

X	Director	X	10% Owner
	Officer (give title below)		Other (specify below)

Explanation of Responses:

1. These shares of common stock par value $0.001 per share (the "Common Stock") are directly held by Avicenna Life Sci Master Fund LP. The general partner of Avicenna Life Sci Master Fund LP is Avicenna Life Sci Master GP LLC. The managing member of Avicenna Life Sci Master GP LLC is Ulys, L.L.C. The managing member of Ulys, L.L.C. is Mr. Raymond Debbane.

2. Each of the Reporting Persons (other than to the extent it directly holds securities reported herein), disclaims beneficial ownership of the securities held by the other Reporting Persons, except to the extent of such Reporting Person's pecuniary interest therein, and, pursuant to Rule 16a-1(a)(4) under the Exchange Act, each of the Reporting Persons (other than to the extent it directly holds securities reported herein) states that the inclusion of these securities in this report shall not be deemed an admission of beneficial ownership of all of the reported securities for purposes of Section 16 of the Exchange Act or for any other purpose.

Remarks:

Invus Public Equities, L.P. directly holds 7,362,368 shares of Common Stock, Invus, L.P. directly owns 35,402,689 shares of Common Stock, Invus US Partners LLC directly owns 5,451,204 shares of Common Stock, Mr. Debbane directly owns 1,385,689 shares of Common Stock and Artal Participations S.a r.l. directly holds 154,734,327 shares of Common Stock, which securities are reported on a separate Form 4. For purposes of Section 16 of the Exchange Act, the Reporting Persons may be deemed to be directors by deputization of the Issuer by virtue of Invus, L.P.'s right to designate certain members of the Issuer's board of directors pursuant to a stockholders' agreement between the Issuer and Invus, L.P.

	AVICENNA LIFE SCI MASTER FUND LP, By: Avicenna Life Sci Master GP LLC, its GP By: /s/ Raymond Debbane, Name: Raymond Debbane Title: Chief Executive Officer	02/12/2026
	AVICENNA LIFE SCI MASTER GP LLC, By: /s/ Raymond Debbane, Name: Raymond Debbane, Title: Chief Executive Officer	02/12/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
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FAQ

What does the Avicenna Form 3 filing disclose for Lexicon Pharmaceuticals (LXRX)?

The Form 3 shows Avicenna Life Sci Master Fund LP and its GP as Lexicon insiders, reporting indirect beneficial ownership of 1,538,462 common shares as of February 2, 2026. This establishes their director and 10% owner status under Section 16 reporting rules.

How many Lexicon Pharmaceuticals (LXRX) shares does Avicenna report owning?

Avicenna Life Sci Master Fund LP reports indirect beneficial ownership of 1,538,462 Lexicon common shares. These shares are directly held by the fund, with Avicenna Life Sci Master GP LLC as general partner and higher-tier entities and Mr. Raymond Debbane identified in the ownership chain.

Are the Avicenna entities directors or 10% owners of Lexicon Pharmaceuticals (LXRX)?

Yes. The filing marks both Avicenna Life Sci Master Fund LP and Avicenna Life Sci Master GP LLC as directors and 10% owners. This status triggers Section 16 reporting, requiring disclosure of their initial holdings and future transactions in Lexicon common stock.

Does the Avicenna Form 3 for Lexicon (LXRX) report any stock purchases or sales?

No transactions are reported; the Form 3 only lists holdings. It shows 1,538,462 Lexicon common shares beneficially owned indirectly as of February 2, 2026, classifying the Avicenna entities as insiders without indicating any buy or sell activity.

How does the Avicenna filing describe beneficial ownership for Lexicon (LXRX) shares?

The filing states the shares are directly held by Avicenna Life Sci Master Fund LP and owned indirectly by related entities. Each reporting person disclaims beneficial ownership of securities held by the others, except to the extent of that person’s pecuniary interest.