Lexicon Announces Proposed $95 Million Common Stock Offering
March 08 2010 - 6:30AM
PR Newswire (US)
THE WOODLANDS, Texas, March 8 /PRNewswire-FirstCall/ -- Lexicon
Pharmaceuticals, Inc. today announced that it is offering to sell,
subject to market and other conditions, $95,000,000 of its common
stock pursuant to an effective shelf registration statement in an
underwritten public offering. Lexicon also intends to grant the
underwriters a 30-day option to purchase up to an additional
$14,250,000 of common stock to cover over-allotments, if any. All
of the shares in the offering are to be sold by Lexicon. Morgan
Stanley & Co. Incorporated and J.P. Morgan Securities Inc. will
be acting as joint book-runners for the offering, with Cowen and
Company, LLC and Thomas Weisel Partners LLC acting as co-managers.
This press release does not constitute an offer to sell, or the
solicitation of an offer to buy, these securities, nor will there
be any sale of these securities in any state or jurisdiction in
which such offer, solicitation or sale is not permitted. The
offering of these securities will be made only by means of a
preliminary prospectus supplement and accompanying prospectus,
copies of which may be obtained from Morgan Stanley & Co.
Incorporated, Attn: Prospectus Department, 180 Varick Street, 2nd
Floor, New York, New York 10014, telephone: (866) 718-1649, or by
emailing prospectus@morganstanley.com, or from J.P. Morgan
Securities Inc., Attention: Broadridge Financial Solutions at 1155
Long Island Avenue, Edgewood, New York 11717, or by telephone at
866-803-9204. The issuer has filed a registration statement
(including a base prospectus) with the Securities and Exchange
Commission, or SEC, for an offering to which this communication
relates. Before you invest, you should read the prospectus in that
registration statement and related prospectus supplements and other
documents that the issuer has filed or will file with the SEC for
more complete information about the issuer and this offering. You
may get these documents for free by visiting EDGAR on the SEC
website at http://www.sec.gov/. Alternatively, you may obtain a
preliminary prospectus supplement and accompanying prospectus as
indicated above. About Lexicon Lexicon is a biopharmaceutical
company focused on discovering breakthrough treatments for human
disease. Lexicon currently has five drug candidates in development
for autoimmune disease, carcinoid syndrome, diabetes, glaucoma and
irritable bowel syndrome, all of which were discovered by the
company's research team. Safe Harbor Statement This press release
contains "forward-looking" statements, including statements related
to Lexicon's expectations regarding the completion, timing and size
of the proposed public offering. Any statements contained in this
press release that are not statements of historical fact may be
deemed to be forward-looking statements. Words such as "will,"
"intends" and similar expressions are intended to identify these
forward-looking statements. There are a number of important factors
that could cause Lexicon's results to differ materially from those
indicated by these forward-looking statements, including risks and
uncertainties related to market conditions and the satisfaction of
customary closing conditions related to the proposed public
offering. There can be no assurance that Lexicon will be able to
complete the proposed public offering on the anticipated terms, or
at all. Additional risks and uncertainties relating to the proposed
public offering, Lexicon and its business can be found under the
headings "Factors Affecting Forward-Looking Statements" and "Risk
Factors" in Lexicon's annual report on Form 10-K for the year ended
December 31, 2009, as filed with the Securities and Exchange
Commission, and under the heading "Risk Factors" in the preliminary
prospectus supplement related to the proposed public offering to be
filed with the Securities and Exchange Commission on March 8, 2010.
Unless required by applicable law, Lexicon undertakes no obligation
to update or revise any such forward-looking statements, whether as
a result of new information, future events or otherwise.
DATASOURCE: Lexicon Pharmaceuticals, Inc. CONTACT: D. Wade Walke,
Senior Director, Corporate Communications ofLexicon
Pharmaceuticals, Inc., +1-281-863-3046, wwalke@lexpharma.com Web
Site: http://www.lexpharma.com/
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