Lexicon Announces Completion of Public Offering of Co...( THE WOODLANDS Texas Oct. 14 /- Lexico...),Health

THE WOODLANDS, Texas, Oct. 14 /PRNewswire-FirstCall/ -- Lexicon Pharmaceuticals, Inc. (Nasdaq: LXRX) today announced the completion of its previously-announced public offering of shares of its common stock. The offering included an aggregate of 38,333,332 shares of Lexicon's common stock after the exercise in full by the underwriters of their over-allotment option and by Invus, L.P., Lexicon's largest stockholder, of its associated right to purchase additional shares. Of this total, 22,878,187 shares were offered through the underwriters and 15,455,145 shares are being purchased by Invus, including 2,015,888 shares being purchased by Invus pursuant to its right to purchase additional shares. Lexicon expects to receive proceeds from Invus' exercise of its right to purchase additional shares on October 15, 2009. The net proceeds to Lexicon from the offering are approximately $55.2 million, after deducting the underwriting discount and estimated offering expenses and giving effect to the anticipated receipt of proceeds from Invus' exercise of its right to purchase additional shares.

The shares were offered pursuant to an effective shelf registration statement previously filed with the Securities and Exchange Commission. Morgan Stanley acted 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 was 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 Flo
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