Director boosts Lexicon (LXRX) stake with open-market share purchases

Rhea-AI Filing Summary

Lexicon Pharmaceuticals director Raymond Debbane reported open-market purchases of 268,497 shares of common stock over three days. He bought 57,952 shares on February 13 at a weighted average price of about $1.3093, 76,857 shares on February 17 at about $1.3082, and 133,688 shares on February 18 at about $1.32 per share, all in multiple transactions within narrow intraday price ranges. After these purchases, his directly held stake increased to 1,654,186 shares of Lexicon common stock. The filing also lists indirect ownership positions held through Avicenna Life Sci Master Fund LP and several Invus-affiliated entities, with millions of additional shares reported as indirectly owned.

SEC Form 4

FORM 4

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

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

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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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

DEBBANE RAYMOND

(Last) (First) (Middle)

2445 TECHNOLOGY FOREST BLVD.

11TH FLOOR

(Street)

THE WOODLANDS TX 77381

(City) (State) (Zip)

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

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

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

3. Date of Earliest Transaction (Month/Day/Year)
02/13/2026

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

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

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

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Stock	02/13/2026		P		57,952	A	$1.3093(1)	1,443,641	D
Common Stock	02/17/2026		P		76,857	A	$1.3082(2)	1,520,498	D
Common Stock	02/18/2026		P		133,688	A	$1.32(3)	1,654,186	D
Common Stock								1,538,462	I	By Avicenna Life Sci Master Fund LP and related parties
Common Stock								7,362,368	I	By Invus Public Equities, L.P. and related parties
Common Stock								5,451,204	I	By Invus US Partners, LLC and related parties
Common Stock								35,402,689	I	By Invus, L.P. and related parties

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

1. Represents a weighted average price. These shares were purchased in multiple transactions at prices ranging from $1.29 to $1.31 per share. The reporting person hereby undertakes to provide to the issuer, a security holder of the issuer or the SEC staff, upon request, full information regarding the number of shares purchased at each respective price within the range set forth in this footnote.

2. Represents a weighted average price. These shares were purchased in multiple transactions at prices ranging from $1.295 to $1.31 per share. The reporting person hereby undertakes to provide to the issuer, a security holder of the issuer or the SEC staff, upon request, full information regarding the number of shares purchased at each respective price within the range set forth in this footnote.

3. Represents a weighted average price. These shares were purchased in multiple transactions at prices ranging from $1.315 to $1.32 per share. The reporting person hereby undertakes to provide to the issuer, a security holder of the issuer or the SEC staff, upon request, full information regarding the number of shares purchased at each respective price within the range set forth in this footnote.

	/s/ Raymond Debbane	02/18/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

FAQ

What did Lexicon Pharmaceuticals (LXRX) director Raymond Debbane buy in this Form 4?

Director Raymond Debbane reported open-market purchases of 268,497 Lexicon shares across three days. The trades occurred on February 13, 17, and 18 at weighted average prices around $1.31 per share, increasing his directly held common stock position in the company.

At what prices did Raymond Debbane buy Lexicon (LXRX) stock?

Debbane’s purchases were made at weighted average prices near $1.31 per share. Reported averages were $1.3093 on February 13, $1.3082 on February 17, and $1.32 on February 18, with each day’s trades executed within narrow specified price ranges.

How many Lexicon (LXRX) shares does Raymond Debbane directly own after these trades?

Following the reported purchases, Debbane directly owns 1,654,186 shares of Lexicon common stock. This total reflects his direct holdings only and excludes additional Lexicon shares reported as indirectly owned through various investment entities associated with him in the Form 4 filing.

Does the Form 4 show any indirect Lexicon (LXRX) holdings for Raymond Debbane?

Yes. The filing reports indirect ownership through entities including Avicenna Life Sci Master Fund LP and several Invus-affiliated vehicles. These entities collectively hold millions of Lexicon shares, which are reported as indirectly owned rather than part of his personal direct share count.

Were these Lexicon (LXRX) share purchases by Raymond Debbane open-market transactions?

All three reported buys are described as open-market purchases of common stock. The transactions used the Form 4 code “P,” meaning purchases in the open market or private transactions, with each day’s activity reflected as weighted average prices over multiple individual trades.