Lexicon Announces Pricing Of $125M Public Offering Of 23,924,705 Shares Of Common Stock At A Price Of $2.60/Share And Concurrent Private Placement
Portfolio Pulse from Happy Mohamed
Lexicon Pharmaceuticals announced the pricing of its $125M public offering of 23,924,705 shares at $2.60 per share and a concurrent private placement. The company plans to use the proceeds to fund the commercial launch of INPEFA and continued R&D of its drug candidates.
June 01, 2023 | 12:18 pm
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NEUTRAL IMPACT
Lexicon Pharmaceuticals' $125M public offering and concurrent private placement may impact its stock price in the short term.
The announcement of Lexicon's public offering and private placement may have a neutral impact on its stock price in the short term. While the additional funds will support the company's growth initiatives, the dilution of shares may offset any positive sentiment.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 100