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LXRX - Lexicon inks stock purchase agreement for $65M
Lexicon Pharmaceuticals Inc.
Lexicon Pharmaceuticals (LXRX) inks agreement with institutional investors providing for the purchase and sale, in a registered direct offering, of ~20.31M shares of common stock at a price of $3.20 per share, for aggregate gross proceeds of $65M.Closing date is December 16.Earlier today, the company secured Fast Track designation in U.S for its LX9211 in diabetic peripheral neuropathic pain.Shares up 17% premarket.