Lexicon Pharmaceuticals Enters Material Definitive Agreement

Ticker: LXRX · Form: 8-K · Filed: Jul 1, 2024

Sentiment: neutral

Topics: material-definitive-agreement, partnership

Related Tickers: LXRX

TL;DR

Lexicon Pharma just signed a big deal, details TBD.

AI Summary

On June 28, 2024, Lexicon Pharmaceuticals, Inc. entered into a Material Definitive Agreement. The filing does not disclose specific details of the agreement or any associated dollar amounts. The company is based in The Woodlands, Texas.

Why It Matters

This filing indicates a significant new contract or partnership for Lexicon Pharmaceuticals, which could impact its future operations and financial performance.

Risk Assessment

Risk Level: medium — The lack of specific details in the filing regarding the nature and terms of the material definitive agreement introduces uncertainty.

Key Players & Entities

FAQ

What is the nature of the Material Definitive Agreement entered into by Lexicon Pharmaceuticals?

The filing does not specify the nature of the Material Definitive Agreement.

What is the effective date of the Material Definitive Agreement?

The earliest event reported is June 28, 2024, which is the date of the Material Definitive Agreement.

Are there any financial terms disclosed in relation to this agreement?

No specific dollar amounts or financial terms are disclosed in this filing regarding the agreement.

What is Lexicon Pharmaceuticals' primary business sector?

Lexicon Pharmaceuticals is in the Pharmaceutical Preparations sector.

Where is Lexicon Pharmaceuticals headquartered?

Lexicon Pharmaceuticals is headquartered at 2445 Technology Forest Blvd., Suite 1100, The Woodlands, Texas.

Filing Stats: 590 words · 2 min read · ~2 pages · Grade level 12.2 · Accepted 2024-07-01 16:05:13

Key Financial Figures

Filing Documents

01 Entry into a Material Definitive Agreement

Item 1.01 Entry into a Material Definitive Agreement On June 28, 2024, Lexicon and one of its subsidiaries entered into a sixth amendment (the " Sixth Amendment ") to its loan and security agreement (the " Loan Agreement ") with Oxford Finance LLC and the lenders listed therein extending the interest-only period under the loans thereunder with an amortization date of May 1, 2027, extending the maturity date of the loans thereunder to March 1, 2029, modifying the existing financial covenants relating to net sales of INPEFA (sotagliflozin) and minimum cash reserves and increasing the final payment due upon prepayment or maturity of the loans thereunder. The Sixth Amendment is filed as Exhibit 10.1 to this Current Report and is incorporated herein by reference. The description of the Sixth Amendment in this Current Report is a summary and is qualified in its entirety by the terms of the Sixth Amendment.

01 Financial Statements and Exhibits

Item 9.01 Financial Statements and Exhibits (d) Exhibits Exhibit No. Description *10.1 — Sixth Amendment to Loan and Security Agreement, dated J une 28 , 202 4 , with Oxford Finance, LLC and the lenders listed therein EX-104 — Cover Page Interactive Data File (embedded within the Inline XBRL document) _____________________ * Filed herewith. 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.

Signatures

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: July 1, 2024 By: /s/ Brian T. Crum Brian T. Crum Senior Vice President and General Counsel

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