Lexicon Pharmaceuticals Secures Up To $200 Million Non-Dilutive Term Loan Financing
Lexicon Pharmaceuticals, Inc. (LXRX)
Last lexicon pharmaceuticals, inc. earnings: 4/27 07:00 am
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Source: GlobeNewswire
THE WOODLANDS, Texas, Dec. 05, 2017 (GLOBE NEWSWIRE) -- Lexicon Pharmaceuticals, Inc. (Nasdaq:LXRX) today announced that it has entered into a definitive term loan agreement with BioPharma Credit PLC and BioPharma Credit Investments IV Sub LP, investment funds managed by Pharmakon Advisors, L.P., that provides Lexicon with up to $200 million of borrowing capacity available in two tranches, each maturing in December 2022 and bearing interest at 9.0% per annum. The first $150 million is available immediately and an additional tranche of $50 million is available for draw by March 2019 at Lexicon’s option if net XERMELO sales are greater than $25 million in the preceding quarter. “This non-dilutive financing, along with the current cash on hand, will allow us to finalize the sotagliflozin type 1 diabetes applications, comply with our financial commitments to our collaborator, Sanofi, on the type 2 diabetes program and fund our commercial costs while the XERMELO launch ramps up,” said J
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News
- Lexicon Pharmaceuticals to Host 2024 Investor Day [Yahoo! Finance]Yahoo! Finance
- Lexicon Pharmaceuticals to Host 2024 Investor DayGlobeNewswire
- All You Need to Know About Lexicon (LXRX) Rating Upgrade to Buy [Yahoo! Finance]Yahoo! Finance
- Lexicon Pharmaceuticals, Inc. (NASDAQ: LXRX) was upgraded by analysts at StockNews.com to a "sell" rating.MarketBeat
- Lexicon Pharmaceuticals, Inc. (NASDAQ: LXRX) had its "hold" rating re-affirmed by analysts at Needham & Company LLC.MarketBeat
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- 3/26/24 - Form ARS
- 3/26/24 - Form DEFA14A
- 3/26/24 - Form DEF
- LXRX's page on the SEC website