Lexicon Announces Pricing of Common Stock in Public Offering
October 08 2009 - 6:48PM
PR Newswire (US)
THE WOODLANDS, Texas, Oct. 8 /PRNewswire-FirstCall/ -- Lexicon
Pharmaceuticals, Inc. (NASDAQ:LXRX) today announced the pricing of
a public offering of 33,333,333 shares of its common stock at $1.50
per share, of which 19,894,076 shares are being offered through the
underwriters and 13,439,257 shares are being offered to Invus,
L.P., Lexicon's largest stockholder. All of the shares are being
offered by Lexicon pursuant to an effective shelf registration
statement previously filed with the Securities and Exchange
Commission. Lexicon has also granted the underwriters a 30-day
option to purchase up to an aggregate of 2,984,111 additional
shares of common stock to cover over-allotments, if any. Morgan
Stanley is acting as the sole book-runner for the offering, with
Thomas Weisel Partners LLC acting as co-manager. 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 final 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 . 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 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 "anticipated," "will,"
"proposed," 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 public offering. There
can be no assurance that Lexicon will be able to complete the
public offering on the anticipated terms, or at all. Additional
risks and uncertainties relating to the 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, 2008, as filed
with the Securities and Exchange Commission and under the heading
"Risk Factors" in the final prospectus supplement related to the
public offering to be filed with the Securities and Exchange
Commission on October 8, 2009. 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: Jason Ray, Manager,
Corporate Communications and Investor Relations of Lexicon,
+1-281-863-3225, Web Site: http://www.lexpharma.com/
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