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Thanks, looks like this will turn into a nice little money earner.
I have no idea at what price this can end at, FDA meeting in January, is between 10 & 20 realistic if all goes well?
If it keeps going up, I will likely sell off about 20% so I am covered in case of disaster.
* * $LXRX Video Chart 12-08-2020 * *
Link to Video - click here to watch the technical chart video
Lexicon Pharmaceuticals shares are trading higher after Citigroup upgraded the stock from Neutral to Buy and raised its price target from $2.1 to $6 per share.
LXRX
when is next month
They are bullish on heart failure drug caused from diabetes...
FDA meeting next month, looks like they have the goods... GLTA
Be nice to know why they raised it. Maybe a PR will be out today. They must know something.
2020-12-08 12:59:00 GMT DJ Lexicon Pharma Price Target Raised to $6.00/Share From $2.10 by Citigroup
Took a few off 2.20, looks like I may have been a bit impatient.
Nice going Guzzi! Added myself last Friday @ 1.60.
Gone up a lot over the last few days and pre-market looks good too.
Glad I came in at 1.5 last week.
Agree. If this reversal sticks we could see this test the major resistance levels of $2 and possibly $3.
Charts are looking pretty good.
LXRX daily
LXRX reversal Notice the inverted head & shoulders. Big time bullish signal.
All imo of course.
A little more momentum and the walls will be coming down!
Happy Friday!
This market is NUTS!!!
Interesting ...
Kinda looks like this could see another wave up. Gap hasn't even filled yet.
LXRX 1.56
What's next for LXRX after the positive SOLOIST and SCORED peer review recently?They are in Phase 3 for Sotagliflozin,right?So,is an approval the next anticipated step?Read that they are meeting with the FDA in Jan 2021,what is that meeting related to?Thanks.
* * $LXRX Video Chart 11-17-2020 * *
Link to Video - click here to watch the technical chart video
Same here, the news and the volume are both good... GLTA
1.80's looks good for me to come out and play and not look back here again all day.
I thought this would have popped to at least $3.00 today
My mistake
yep that's an easy reachable target with this Phase 3 news.
Holding the rest of my shares for $5+.
Heart Attack and Stroke is the most common ailment, the MARKET for LXRX is HUGE!
LXRX BOOM $2.20
LXRX $2.04 Phase 3/ Peer Reviewed, Stroke/ Heart Attack is a HUGE Market! IMO
Nothing new in bioland that's for sure. Excellent news that makes LXRX even more attractive.
Thanks for posting, haven't had a chance to check filings yet this morning.
Sotagliflozin Significantly Reduced Total Cardiovascular Deaths, Heart Failure Hospitalization and Urgent Visits, Achieving Primary Endpoint in Both Studies
http://www.lexpharma.com/media-center/news/760-results-from-soloist-and-scored-outcomes-studies-presented-at-late-breaking-science-session-of-american-heart-association-scientific-sessions-and-published-in-the-new-england-journal-of-medicine
Excellent! Peer review!
https://finance.yahoo.com/news/results-soloist-scored-outcomes-studies-030200976.html
Skimmed a few in PM.
I just can't help myself sometimes. It's been beaten into my brain to take green when it's screaming at me!
GLTA
DILUTION > SHELF PLACEMENT > SEC 424B5 >LXRX has entered into an Open Market Sale AgreementSM (the “sales agreement”) with Jefferies LLC (“Jefferies”) relating to the shares of our common stock, par value $0.001 per share (“common stock”), offered by this prospectus supplement. In accordance with the terms of the sales agreement, we may offer and sell our common stock having an aggregate sales price of up to $50,000,000 from time to time through Jefferies acting as our sales agent.
Our common stock trades on the Nasdaq under the symbol “LXRX.” On October 29, 2020, the last reported sale price of our common stock on the Nasdaq was $1.16 per share.
Sales of common stock, if any, under this prospectus supplement will be made in sales deemed to be an “at the market offering” as defined in Rule 415(a)(4) promulgated under the Securities Act of 1933, as amended, or the Securities Act. Jefferies is not required to sell any specific amount of securities, but will act as our sales agent using commercially reasonable efforts consistent with its normal trading and sales practices, on mutually agreed terms between Jefferies and us. There is no arrangement for funds to be received in any escrow, trust or similar arrangement.
The compensation to Jefferies for sales of common stock sold pursuant to the sales agreement will be at an amount equal to 3.0% of the gross proceeds of any shares of common stock sold under the sales agreement. The net proceeds from any sales under this prospectus supplement will be used as described under “Use of Proceeds” in this prospectus supplement. In connection with the sale of the common stock on our behalf, the Jefferies will be deemed to be “underwriter” within the meaning of the Securities Act and the compensation of Jefferies will be deemed to be underwriting commissions or discounts. We have also agreed to provide indemnification and contribution to Jefferies with respect to certain liabilities, including liabilities under the Securities Act or the Securities Exchange Act of 1934, as amended, or the Exchange Act. See “Plan of Distribution” on page S-7 of this prospectus supplement for additional information concerning the compensation to be paid to Jefferies.
Clearing their debt obviously cost shareholders plenty!!!
Still, opportunity? I took a few here. 1.12/1.13.
Took a huge loss on this one today
GLTA that remain
Current Report Filing (8-k)
Source: Edgar (US Regulatory)
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
__________________
FORM 8-K
__________________
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): September 8, 2020
Lexicon Pharmaceuticals, Inc.
(Exact name of registrant as specified in its charter)
Delaware 000-30111 76-0474169 (State or other jurisdiction of
incorporation or organization) (Commission File Number) (I.R.S. Employer
Identification Number)
8800 Technology Forest Place
The Woodlands, Texas 77381
(Address of principal executive offices and Zip Code)
(281) 863-3000
(Registrant’s telephone number, including area code)
Securities registered pursuant to Section 12(b) of the Act:
Title of each class Trading Symbol(s) Name of each exchange on which registered Common Stock, par value $0.001 LXRX The Nasdaq Global Select Market
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligations of the registrant under any of the following provisions:
? Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
? Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
? Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
? Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).
Emerging growth company ?
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ?
Item 2.01 Completion of Acquisition or Disposition of Assets
On September 8, 2020, Lexicon Pharmaceuticals, Inc. (the “Company”) completed the previously disclosed sale to TerSera Therapeutics LLC (“TerSera”) of the Company's XERMELO® (telotristat ethyl) product and related assets pursuant to the Asset Purchase and Sale Agreement (the “Purchase and Sale Agreement”) by and between the Company and TerSera, dated July 29, 2020, as amended by the First Amendment to Asset Purchase and Sale Agreement (the “First Amendment”), by and between the Company and TerSera, dated August 10, 2020.
The consideration paid by TerSera pursuant to the Purchase and Sale Agreement consisted of: (a) an upfront cash payment of approximately $160,400,000, including the book value of inventory, subject to working capital and other adjustments set forth in the Purchase and Sale Agreement, and (b) the following potential future contingent payments: (i) development, regulatory and sales milestone payments of up to an aggregate of $65 million for the development and commercialization of XERMELO in patients with biliary tract cancer and (ii) mid-teens percentage royalty payments on net sales of XERMELO in biliary tract cancer.
The foregoing description of the Purchase and Sale Agreement and the First Amendment does not purport to be complete and is qualified in its entirety by the full text of the Purchase and Sale Agreement and the First Amendment, which are attached hereto as Exhibits 2.1 and 2.2, respectively, and are incorporated herein by reference.
In connection with the closing of the transaction, the Company’s borrowings under its Loan Agreement, dated December 4, 2017, with BioPharma Credit PLC, as collateral agent and a lender, and BioPharma Credit Investments IV Sub LP, as a lender, were repaid in full.
The representations, warranties and covenants contained in the Purchase and Sale Agreement (and the First Amendment, as applicable) were made only for the purposes of the Purchase and Sale Agreement, were made as of specific dates, were made solely for the benefit of the parties to the Purchase and Sale Agreement and the First Amendment and may not have been intended to be statements of fact but, rather, as a method of allocating risk and governing the contractual rights and relationships between the parties to the Purchase and Sale Agreement. The assertions embodied in those representations and warranties may be subject to important qualifications and limitations agreed to by the Company and TerSera in connection with negotiating their respective terms. Moreover, the representations and warranties may be subject to a contractual standard of materiality that may be different from what may be viewed as material to stockholders. For the foregoing reasons, none of the Company’s stockholders or any other person should rely on such representations and warranties, or any characterizations thereof, as statements of factual information at the time they were made or otherwise.
Item 8.01 Other Events
On September 8, 2020, the Company issued a press release announcing the closing of the Purchase and Sale Agreement with TerSera. The full text of the press release issued in connection with the announcement is attached hereto as Exhibit 99.1 and incorporated herein by this reference.
Item 9.01 Financial Statements and Exhibits
(b) Pro Forma Financial Information.
The following unaudited pro forma financial statements reflecting the XERMELO asset disposition described above (as defined in Regulation S-X) are filed as Exhibit 99.2 to this Current Report and incorporated herein by reference:
Lexicon Pharmaceuticals, Inc. Unaudited Pro Forma Consolidated Balance Sheet as of June 30, 2020.
Lexicon Pharmaceuticals, Inc. Unaudited Pro Forma Condensed Consolidated Statements of Income (Loss) for the year ended December 31, 2019 and the six-months ended June 30, 2020.
(d) Exhibits
Exhibit No. Description
2.1*†
—
Asset Purchase and Sale Agreement, dated July 29, 2020, by and between Lexicon Pharmaceuticals, Inc. and TerSera Therapeutics LLC
2.2 —
First Amendment to Asset Purchase and Sale Agreement, dated August 10, 2020, by and between Lexicon Pharmaceuticals, Inc. and TerSera Therapeutics LLC
99.1 —
Press Release Issued by Lexicon Pharmaceuticals, Inc. on September 8, 2020
99.2 —
Pro Forma Financial Information of Lexicon Pharmaceuticals, Inc
104 — Cover Page Interactive Data File (embedded within the Inline XBRL document)
* Exhibits and schedules have been omitted pursuant to Item 601(a)(5) of Regulation S-K. The Company hereby undertakes to furnish supplementally copies of any of the omitted exhibits and schedules upon request by the U.S. Securities and Exchange Commission (the “SEC”); provided, however, that the Company may request confidential treatment pursuant to Rule 24b-2 of the Exchange Act for any exhibits or schedules so furnished. A list identifying the contents of all omitted exhibits and schedules can be found on page iii of Exhibit 2.1.
† In accordance with Item 601(b)(2)(ii) of Regulation S-K, certain information (indicated by “[**]”) has been excluded from this exhibit because it is both not material and would likely cause competitive harm to the Company if publicly disclosed.
Safe Harbor For Forward-Looking Statements
Statements contained in this Current Report on Form 8-K about the Company, the Purchase and Sale Agreement, the First Amendment and the transaction that are not purely historical, and all other statements that are not purely historical, may be deemed to be forward-looking statements for purposes of the safe harbor provisions under The Private Securities Litigation Reform Act of 1995. Without limiting the foregoing, the words “believes,” “anticipates” and “expects” and similar expressions are intended to identify forward-looking statements. These forward-looking statements involve known and unknown risks and uncertainties that may cause the Company’s actual results, levels of activity, performance or achievements to be materially different from those expressed or implied by these forward-looking statements. Important factors that may cause or contribute to such differences include the accounting and tax treatments of the transaction; the anticipated cash and non-cash charges associated with the transaction; the ability of the Company to successfully separate the XERMELO® business from the Company’s other businesses; the commercial success of telotristat ethyl for the treatment of biliary tract cancer and the risk that future milestone and royalty payments may not be received by the Company on the terms negotiated with TerSera or at all; and such other factors as are set forth in the risk factors detailed from time to time in the Company’s filings with the Securities and Exchange Commission, including, without limitation, the risk factors detailed in the Company’s Annual Report on Form 10-K for the year ended December 31, 2019 and the Company’s Quarterly Report on Form 10-Q for the quarter ended June 30, 2020, which are incorporated herein by reference. The Company specifically disclaims any obligation to update these forward-looking statements, unless required by law.
Signatures
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.
Lexicon Pharmaceuticals, Inc. Date: September 11, 2020 By: /s/ Brian T. Crum Brian T. Crum
Vice President and General Counsel
released old news to try and hide they terminated another deal 8k
Shake outs from their earnings? I've been taking advantage. Wouldn't be surprised to see this completely taken over down the line. I'm taking what I can afford under $2.
I know this need came out last week but why is stock not moving?
What info is holding this back?
NEWS: https://finance.yahoo.com/news/gtcr-tersera-therapeutics-announce-acquisition-112500170.html
Thinking some shorts are cringing as they fry
Shorts wanted to fill the gap is what I'm thinking. Mission accomplished for the most part.
LXRX
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Sotagliflozin Significantly Reduced Total Cardiovascular Deaths, Heart Failure Hospitalization and Urgent Visits, Achieving Primary Endpoint in Both Studies
THE WOODLANDS, Texas, Nov. 16, 2020 (GLOBE NEWSWIRE) -- Lexicon Pharmaceuticals, Inc. (Nasdaq: LXRX), today announced that both the SOLOIST and SCORED Phase 3 studies achieved their primary endpoints by demonstrating statistically significant reductions in total cardiovascular deaths, hospitalizations for heart failure and urgent heart failure visits in patients treated with sotagliflozin as compared with placebo.
In the SOLOIST study, the primary endpoint was achieved with a hazard ratio (HR) of 0.67 (p<0.001) in people with type 2 diabetes and a recent hospitalization for worsening heart failure. In the SCORED study, the primary endpoint was achieved with a hazard ratio of 0.74 (p<0.001) in people with type 2 diabetes and chronic kidney disease with an estimated glomerular filtration rate (eGFR) of 25 to 60 ml/minute per 1.73 m² of body-surface area.
The key results from SOLOIST and SCORED were presented today at the Late-Breaking Science Session of the American Heart Association (AHA) Scientific Sessions 2020 and simultaneously published in The New England Journal of Medicine (NEJM) in two separate articles titled: “Sotagliflozin in Patients with Diabetes and Recent Worsening Heart Failure” and “Sotagliflozin in Patients with Diabetes and Chronic Kidney Disease.” The articles may be accessed at www.nejm.org.
“Cardiovascular disease continues to be a leading cause of death in people with type 2 diabetes,” said Deepak L. Bhatt, M.D., M.P.H., executive director of Interventional Cardiovascular Programs at Brigham and Women's Hospital and a professor of medicine at Harvard Medical School and study chair and lead author for the NEJM publications of the SOLOIST and SCORED results. “SOLOIST demonstrates that early, in-hospital initiation of sotagliflozin in patients with worsening heart failure significantly reduces subsequent cardiovascular events, an effect that was consistent across groups with heart failure with reduced ejection fraction (HFrEF) and heart failure with preserved ejection fraction (HFpEF). SCORED demonstrates that sotagliflozin significantly reduces heart failure events in a patient population with stage 3 and 4 chronic kidney disease and cardiovascular risk. Both studies add to the evidence that SGLT2 inhibition should be standard of care in heart failure, and the SCORED data reflecting a reduction in myocardial infarction and stroke and better glucose control in CKD patients suggest potential benefits from the dual SGLT1 and SGLT2 mechanism of this particular agent.”
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