THE WOODLANDS, Texas,
Nov. 19, 2014 /PRNewswire/
-- Lexicon Pharmaceuticals, Inc. (Nasdaq: LXRX) today
announced that it commenced an offering to sell, subject to market
and other conditions, $50,000,000 of
shares 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 $7,500,000 of
additional shares of common stock. All of the shares in the
offering are to be sold by Lexicon. J.P. Morgan Securities,
LLC and Goldman, Sachs & Co. will be acting as joint
book-runners for the offering and Needham & Company, LLC and
Stifel, Nicolaus & Company, Incorporated will be acting as
co-managers for the offering.
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
forming a part of the effective shelf registration statement,
copies of which may be obtained from J.P. Morgan Securities LLC via
Broadridge Financial Solutions, 1155 Long Island Avenue,
Edgewood, New York 11717, or by
telephone at 866-803-9204 or from Goldman, Sachs & Co., 200
West Street, New York, NY 10282,
Attention: Prospectus Department, or by telephone at 866-471-2526
or by e-mail at prospectus-ny@ny.email.gs.com.
The issuer has filed a registration statement (including a
prospectus) with the Securities and Exchange Commission for an
offering to which this communication relates. Before you
invest, you should read the prospectus in that registration
statement and related preliminary prospectus supplement and other
documents that the issuer has filed or will file with the
Securities and Exchange Commission for more complete information
about the issuer and this offering. You may get these
documents for free by visiting EDGAR on the Securities and Exchange
Commission's website at 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 developing breakthrough treatments for human
disease. Lexicon has clinical-stage drug programs for
diabetes, carcinoid syndrome, and other indications, all of which
were discovered by Lexicon's research team. Lexicon has used
its proprietary gene knockout technology to identify more than 100
promising drug targets.
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 offering and private placement. 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 or private placement on
the anticipated terms, or at all. Additional risks and
uncertainties relating to the proposed public offering and the
private placement, Lexicon and its business can be found under the
heading "Risk Factors" in Lexicon's filings with the Securities and
Exchange Commission, including its annual report on Form 10-K for
the year ended December 31, 2013, and
under the heading "Risk Factors" in the preliminary prospectus
supplement related to the proposed public offering of common stock
to be filed with the Securities and Exchange Commission.
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.
SOURCE Lexicon Pharmaceuticals, Inc.