Investment groups linked to Invus, Artal boost Lexicon (LXRX) stake with stock and preferred buys
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
Lexicon Pharmaceuticals disclosed significant share purchases by investment entities tied to Invus and Artal as part of a financing that closed on February 2, 2026. Artal Participations S.a r.l. agreed to buy 22,400,000 common shares at $1.30 per share, assigning the right to purchase 3,846,154 of those shares to Invus Public Equities, L.P., which bought them directly from Lexicon at the same price. Avicenna Life Sci Master Fund LP purchased 1,538,462 common shares as part of an underwritten public offering.
Artal Participations S.a r.l. also agreed to purchase 367,145.12 shares of Series B Convertible Preferred Stock at $65.00 per share and obtained the right to buy up to an additional 94,854.88 preferred shares at the same price. Each preferred share will automatically convert into 50 common shares once shareholder approval is obtained and specified conditions are met; until then, the preferred shares are not convertible. The filing notes complex ownership chains among Artal, Invus and related entities, and each reporting person disclaims beneficial ownership of securities held by the others beyond its pecuniary interest.
Positive
- None.
Negative
- None.
Insider Trade Summary
Net Buyer: 1,538,462 shares ($2,000,001)
Net Buy
7 txns
Insider
Invus Global Management, LLC, Siren, L.L.C., DEBBANE RAYMOND, Artal Participations S.a r.l., Artal International S.C.A., Artal International Management S.A., Artal Group S.A., Westend S.A., Stichting Administratiekantoor Westend
Role
Director, 10% Owner | Director, 10% Owner | Director | Director, 10% Owner | Director, 10% Owner | Director, 10% Owner | Director, 10% Owner | Director, 10% Owner | Director, 10% Owner
Bought
1,538,462 shs ($2.00M)
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Common Stock | 18,553,846 | $1.30 | $24.12M |
| Grant/Award | Common Stock | 3,846,154 | $1.30 | $5.00M |
| Purchase | Common Stock | 1,538,462 | $1.30 | $2.00M |
| Grant/Award | Series B Convertible Preferred Stock | 367,145.12 | $65.00 | $23.86M |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
Holdings After Transaction:
Common Stock — 154,734,327 shares (Indirect, See Footnotes);
Series B Convertible Preferred Stock — 367,145.12 shares (Indirect, See Footnotes)
Footnotes (1)
- On January 29, 2026, Artal Participations S.a r.l. entered into a purchase agreement with the Issuer pursuant to which Artal Participations S.a r.l. agreed to purchase 22,400,000 shares of common stock par value $0.001 per share (the "Common Stock") of the Issuer at a price of $1.30 per share (the "Purchase Price"). On January 30, 2026, Artal Participations S.a r.l. assigned its right to purchase from the Issuer 3,846,154 shares of Issuer Common Stock to Invus Public Equities, L.P., and Invus Public Equities, L.P. agreed to purchase directly from the Issuer 3,846,154 shares of Issuer Common Stock at the Purchase Price. The purchase closed on February 2, 2026. On February 2, 2026, Avicenna Life Sci Master Fund LP purchased 1,538,462 shares of Common Stock as part of the Issuer's underwritten public offering. On January 29, 2026, Artal Participations S.a r.l. entered into a preferred stock purchase agreement (the "Preferred Purchase Agreement") with the Issuer pursuant to which Artal Participations S.a r.l. agreed to purchase 367,145.12 shares of Series B Convertible Preferred Stock, par value $0.01 per share (the "Preferred Stock") of the Issuer at a price of $65.00 per share. The Preferred Purchase Agreement also provides Artal Participations S.a r.l. the right to purchase from the Issuer, up to an additional 94,854.88 shares of Preferred Stock at a price per share of $65.00. Each share of Preferred Stock will automatically convert into 50 shares of the Issuer's Common Stock upon receipt of shareholder approval and the satisfaction of certain other conditions; however, absent the satisfaction of such conditions, the shares are not convertible. The purchase closed on February 2, 2026. These securities are directly held by Artal Participations S.a r.l. These securities are directly held by Invus Public Equities, L.P. These securities are directly held by Avicenna Life Sci Master Fund LP These securities are directly held by Invus, L.P. These securities are directly held by Invus US Partners LLC The sole shareholder of Artal Participations S.a r.l. is Artal International S.C.A. The managing partner of Artal International S.C.A. is Artal International Management S.A. The sole stockholder of Artal International Management S.A. is Artal Group S.A. The parent company of Artal Group S.A. is Westend S.A. The majority stockholder of Westend S.A. is Stichting Administratiekantoor Westend (the "Stichting"). Mr. Amaury Wittouck is the sole member of the board of the Stichting. The general partner of Invus Public Equities, L.P. is Invus Public Equities Advisors, LLC. The managing member of Invus Public Equities Advisors, LLC is Invus Global Management, LLC. The managing member of Invus Global Management, LLC is Siren, L.L.C. The managing member of Siren, L.L.C. is Mr. Raymond Debbane. 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. The general partner of Invus, L.P. is Invus Advisors, L.L.C. The managing member of Invus Advisors, L.L.C. is Invus Global Management, LLC. The managing member of Invus Global Management, LLC. is Siren, L.L.C. The managing member of Siren, L.L.C. is Mr. Raymond Debbane. The managing member of Invus US Partners LLC is Ulys, L.L.C. The managing member of Ulys, L.L.C. is Mr. Raymond Debbane. These securities are directly held by Mr. Raymond Debbane. 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 Securities Exchange Act of 1934, as amended (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.
FAQ
What are the terms of the Series B Convertible Preferred Stock tied to Lexicon (LXRX)?
Artal Participations S.a r.l. agreed to buy 367,145.12 Series B Convertible Preferred shares at $65.00 each and may buy up to 94,854.88 more at that price. Each preferred share automatically converts into 50 common shares after shareholder approval and other specified conditions are satisfied.
Who holds the Lexicon (LXRX) securities reported for Artal Participations S.a r.l.?
The filing states that the relevant Lexicon securities are directly held by Artal Participations S.a r.l. It also outlines an ownership chain through Artal International S.C.A., Artal International Management S.A., Artal Group S.A., Westend S.A., and Stichting Administratiekantoor Westend, with that structure tying back to Amaury Wittouck.
Do the Lexicon (LXRX) reporting persons claim full beneficial ownership of all reported shares?
No. Each reporting person, other than where it directly holds securities, disclaims beneficial ownership of shares held by the other reporting persons, except for its pecuniary interest. They state that listing the securities should not be considered an admission of beneficial ownership for Section 16 or other purposes.