March 22, 2010 (FinancialWire) — Lexicon Pharmaceuticals, Inc. (NASDAQ: LXRX) has completed a public offering and concurrent private placement of its common stock, resulting in net proceeds to Lexicon of around $181.4 million after the exercise in full by the underwriters of their over-allotment option and by Invus, L.P., Lexicon's largest stockholder, of its associated right to purchase additional shares.

The public offering and concurrent private placement included an aggregate of 161,770,206 shares of Lexicon's common stock. Of this total, 96,521,739 shares were offered through the underwriters and 65,248,467 shares were purchased by Invus and one of its affiliates in the concurrent private placement.

Texas-based Lexicon is a biopharmaceutical company focused on discovering breakthrough treatments for human disease. Lexicon currently has four drug candidates in mid-stage development for diabetes, irritable bowel syndrome, carcinoid syndrome and rheumatoid arthritis, all of which were discovered by the company's research team.

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