Lexicon Pharmaceuticals, Inc announced it has entered into a securities purchase agreement of 2,304,147 shares of series a convertible preferred stock at a price of $108.5 per share for gross proceeds of $250,000,000 on March 11, 2024. The preferred stock will be convertible 115,207,350 shares of the Company. The transaction is expected to close on March 13,2024.

the transaction will include participation from Invus, L.P, Braidwell LP, Great Point Partners, LLC, OrbiMed and a large investment management firm.