Lexicon Pharmaceuticals shares are trading lower after the company announced pricing of a $125 million public offering and concurrent private placement.
Portfolio Pulse from Benzinga Newsdesk
Lexicon Pharmaceuticals announced the pricing of a $125 million public offering and concurrent private placement, causing its shares to trade lower.
June 01, 2023 | 1:09 pm
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Lexicon Pharmaceuticals' stock price is trading lower due to the announcement of a $125 million public offering and concurrent private placement.
The announcement of a public offering and concurrent private placement typically dilutes the value of existing shares, leading to a decrease in stock price. In this case, Lexicon Pharmaceuticals' stock price is trading lower due to the announcement of a $125 million public offering and concurrent private placement.
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