Lexicon Pharmaceuticals Faces Listing Rule Issues

TL;DR

LEXICON facing listing rule problems, might get delisted.

AI Summary

Lexicon Pharmaceuticals, Inc. filed an 8-K on January 7, 2025, reporting a notice of delisting or failure to satisfy a continued listing rule or standard, and a transfer of listing. The specific details regarding the reason for this notice and the implications of the transfer were not fully elaborated in the provided text, but it indicates a significant event concerning the company's stock exchange status.

Why It Matters

This filing signals potential issues with Lexicon Pharmaceuticals' continued listing on a stock exchange, which could impact its stock price and investor confidence.

Risk Assessment

Risk Level: high — A notice of delisting or failure to meet listing standards is a serious concern that can lead to significant stock price volatility and reduced investor interest.

Key Players & Entities

• Lexicon Pharmaceuticals, Inc. (company) — Registrant
• January 3, 2025 (date) — Earliest event reported
• January 7, 2025 (date) — Date of report
• Delaware (jurisdiction) — State of incorporation
• 2445 Technology Forest Blvd., 11th Floor (address) — Principal executive offices
• The Woodlands, Texas 77381 (address) — Principal executive offices

FAQ

Key Financial Figures

• $0.001 — ich registered Common Stock, par value $0.001 LXRX The Nasdaq Global Select Market
• $1 — ment to maintain a minimum bid price of $1 per share, as set forth in Nasdaq Listi

Filing Documents

• lxrx-20250103.htm (8-K) — 22KB
• 0001062822-25-000005.txt ( ) — 142KB
• lxrx-20250103.xsd (EX-101.SCH) — 2KB
• lxrx-20250103_lab.xml (EX-101.LAB) — 21KB
• lxrx-20250103_pre.xml (EX-101.PRE) — 12KB
• lxrx-20250103_htm.xml (XML) — 3KB

01 Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing

Item 3.01 Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing On January 3, 2025, we received a letter (the "Notice") from the Listing Qualifications staff of The NASDAQ Stock Market LLC ("Nasdaq") indicating that, based upon the closing bid price of our common stock for the last 31 consecutive business days, we no longer meet the requirement to maintain a minimum bid price of $1 per share, as set forth in Nasdaq Listing Rule 5450(a)(1). In accordance with Nasdaq Listing Rule 5810(c)(3)(A), we have been provided a period of 180 calendar days, or until July 2, 2025, in which to regain compliance. In order to regain compliance with the minimum bid price requirement, the closing bid price of our common stock must be at least $1 per share for a minimum of ten consecutive business days during this 180-day period. In the event that we do not regain compliance within this 180-day period, we may be eligible to seek an additional compliance period of 180 calendar days if we meet the continued listing requirement for market value of publicly held shares and all other Nasdaq initial listing standards, with the exception of the bid price requirement, and provide written notice to Nasdaq of our intent to cure the deficiency during this second compliance period, by effecting a reverse stock split, if necessary. However, if it appears to the Nasdaq staff that we will not be able to cure the deficiency, or if we are otherwise not eligible, Nasdaq will provide us notice that our common stock will be subject to delisting. The Notice does not result in the immediate delisting of our common stock from the Nasdaq Global Select Market. We intend to monitor the closing bid price of our common stock and consider our available options in the event that the closing bid price of our common stock remains below $1 per share, including effecting a reverse stock split if our stockholders approve a proposal granting our board of directors discr

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: January 7, 2025 By: /s/ Brian T. Crum Brian T. Crum Senior Vice President and General Counsel