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Lexicon Announces Pricing of Common Stock in Public Offering
Date:3/16/2010

THE WOODLANDS, Texas, March 16 /PRNewswire-FirstCall/ -- Lexicon Pharmaceuticals, Inc. (Nasdaq: LXRX) today announced the pricing of a public offering and concurrent private placement of its common stock in which  the aggregate net proceeds to Lexicon will be approximately $165.0 million.  The public offering consists of 87,717,391 shares of its common stock at a public offering price of $1.15 per share.  In connection with the public offering, Lexicon agreed to sell an additional 59,296,749 shares of its common stock at the public offering price to Invus, L.P., Lexicon's largest stockholder, in a concurrent private placement upon Invus' exercise of its right to purchase shares sufficient to maintain its pro rata ownership of Lexicon's common stock.

All of the shares subject to the public offering 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 8,804,348 additional shares of common stock to cover over-allotments, if any.  To the extent the underwriters exercise their over-allotment option, Invus may purchase up to an aggregate of 5,951,718 additional shares of common stock in a private placement pursuant to its right to purchase shares sufficient to maintain its pro rata ownership of Lexicon's common stock.  Morgan Stanley & Co. Incorporated and J.P. Morgan Securities Inc. are ac
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SOURCE Lexicon Pharmaceuticals, Inc.
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1. Lexicon Pharmaceuticals Provides Clinical Pipeline Update and Reports 2009 Fourth Quarter and Full Year Financial Results
2. Lexicon Announces Proposed Offering of 27,500,000 Shares of Common Stock
3. Lexicon Pharmaceuticals to Present at the Morgan Stanley Global Healthcare Unplugged Conference
4. Lexicon to Provide Clinical Pipeline Update and Report Second Quarter 2009 Financial Results on July 28, 2009
5. Lexicon Initiates Phase 2 Clinical Trial of LX1032 in Patients With Carcinoid Syndrome
6. Lexicon Names Ajay Bansal Executive Vice President and Chief Financial Officer
7. Lexicon to Present Clinical Data for LX1031 and LX1032 at Digestive Disease Week
8. Lexicon to Provide Clinical Pipeline Update and Report First Quarter 2009 Financial Results on April 28, 2009
9. Lexicon Pharmaceuticals 2008 Annual Report to Stockholders Available Online
10. Nuevolution Announces Drug Discovery Alliance With Lexicon Pharmaceuticals
11. Lexicon to Report Fourth Quarter and Full Year 2007 Financial Results on March 6, 2008
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