# EDGAR Filing Document

**Accession Number:** 0001062822
**File Stem:** 0001193125-25-270020
**Filing Date:** 2025-11
**Character Count:** 10578
**Document Hash:** b14a0252b2931b6efcc40ac08149d282
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001193125-25-270020.hdr.sgml**: 20251106

**ACCESSION NUMBER**: 0001193125-25-270020

**CONFORMED SUBMISSION TYPE**: 8-K

**PUBLIC DOCUMENT COUNT**: 15

**CONFORMED PERIOD OF REPORT**: 20251106

**ITEM INFORMATION**: Other Events

**ITEM INFORMATION**: Financial Statements and Exhibits

**FILED AS OF DATE**: 20251106

**DATE AS OF CHANGE**: 20251106

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** LEXICON PHARMACEUTICALS, INC.
- **CENTRAL INDEX KEY:** 0001062822
- **STANDARD INDUSTRIAL CLASSIFICATION:** PHARMACEUTICAL PREPARATIONS [2834]
- **ORGANIZATION NAME:** 03 Life Sciences
- **EIN:** 760474169
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 8-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 000-30111
- **FILM NUMBER:** 251459343

**BUSINESS ADDRESS:**
- **STREET 1:** 2445 TECHNOLOGY FOREST BLVD.
- **STREET 2:** SUITE 1100
- **CITY:** THE WOODLANDS
- **STATE:** TX
- **ZIP:** 77381
- **BUSINESS PHONE:** 2818633000

**MAIL ADDRESS:**
- **STREET 1:** 2445 TECHNOLOGY FOREST BLVD.
- **STREET 2:** SUITE 1100
- **CITY:** THE WOODLANDS
- **STATE:** TX
- **ZIP:** 77381

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** LEXICON PHARMACEUTICALS, INC./DE
- **DATE OF NAME CHANGE:** 20070426

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** LEXICON GENETICS INC/TX
- **DATE OF NAME CHANGE:** 20000126

?xml version='1.0' encoding='ASCII'? 8-K

### UNITED STATES

### SECURITIES AND EXCHANGE COMMISSION

#### Washington, D.C. 20549

### FORM 8-K

#### CURRENT REPORT

#### Pursuant to Section 13 or 15(d)

#### of the Securities Exchange Act of 1934

#### Date of Report (Date of earliest event reported): November 6, 2025

## Lexicon Pharmaceuticals, Inc.

#### (Exact name of registrant as specified in its charter)

---

| | | |
|:---|:---|:---|
| **Delaware** | **000-30111** | **76-0474169** |
| **(State or other jurisdiction of**<br> **incorporation or organization)** | **(Commission<br>File Number)** | **(I.R.S. Employer<br>Identification Number)** |

---

#### 2445 Technology Forest Blvd., 11th Floor

#### The Woodlands, Texas 77381

#### (Address of principal executive offices and Zip Code)
(281) 863-3000

#### (Registrant's telephone number, including area code)
Securities registered pursuant to Section 12(b) of the Act:

---

| | | |
|:---|:---|:---|
| **Title of each class** | **Trading<br>Symbol(s)** | **Name of each exchange<br>on which registered** |
| Common stock, par value $0.001 | LXRX | The Nasdaq Capital Market |

---

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligations of the registrant under any of the following provisions:

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR §230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR §240.12b-2).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

------

---

| | |
|:---|:---|
| **Item 8.01** | **Other Events.**  |

---

On November 6, 2025, Lexicon Pharmaceuticals, Inc., a Delaware corporation (the "Company"), in connection with its previously announced Open Market Sale Agreement<sup>SM</sup>, dated December 29, 2023 (the "Agreement"), with Jefferies LLC, as sales agent, pursuant to which the Company may offer and sell, from time to time, through Jefferies, shares of its common stock, par value $0.001, having an aggregate sales price of up to $75,000,000 (the "Shares"), filed a prospectus supplement to its Registration Statement on Form S-3 filed with the Securities and Exchange Commission (the "SEC") on August 2, 2024, and declared effective by the SEC on August 15, 2024 (File No. 333-281208) with the SEC with respect to the offer and sale of the Shares from time to time pursuant to the Agreement. As of November 6, 2025, no sales have been made by the Company pursuant to the Agreement.

Vinson & Elkins L.L.P., counsel to the Company, has issued a legal opinion relating to the validity of the Shares being offered pursuant to the Agreement. A copy of such legal opinion, including the consent included therein, is filed as Exhibit 5.1 to this Current Report on Form 8-K and is incorporated herein by reference.

This Current Report on Form 8-K shall not constitute an offer to sell or the solicitation of an offer to buy any Shares under the Agreement nor shall there be any sale of such Shares in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state.

---

| | |
|:---|:---|
| **Item 9.01** | **Financial Statements and Exhibits**  |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) Exhibits.

---

| | |
|:---|:---|
| **Exhibit<br>Number** | **Description** |
| 5.1 | [Opinion of Vinson & Elkins L.L.P.](d37543dex51.htm) |
| 23.1 | [Consent of Vinson & Elkins L.L.P. (included in Exhibit 5.1).](d37543dex51.htm) |
| EX-104 | Cover Page Interactive Data File (embedded within the Inline XBRL document) |

---

------

#### 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.** | **Lexicon Pharmaceuticals, Inc.** |
| Date: November 6, 2025 | By: | /s/ Brian T. Crum |
|  |  | Brian T. Crum |
|  |  | Senior Vice President and General Counsel |

---

## Exhibit 5.1

**Exhibit 5.1**![LOGO](g37543dsp01.jpg)

November 6, 2025

Lexicon Pharmaceuticals, Inc.

800 Technology Forest Place

The Woodlands, TX 77381

Ladies and Gentlemen:

We have acted as counsel for Lexicon Pharmaceuticals, Inc., a Delaware corporation (the "<u>Company</u>"), with respect to certain legal matters in connection with the proposed issuance and sale from time to time by the Company of common stock, par value $0.001 (the "<u>Common Stock</u>"), having an aggregate offering price of up to $75,000,000 (the "<u>Shares</u>"), pursuant to that certain Open Market Sale Agreement, dated December 29, 2023 (the "<u>Sales Agreement</u>") by and between the Company and Jefferies LLC.

We have participated in the preparation of a Prospectus Supplement dated November 6, 2025 (the "<u>Prospectus Supplement</u>"), forming part of a Registration Statement on Form S-3 filed with the Securities and Exchange Commission (the "<u>SEC</u>") on August 2, 2024, and declared effective by the SEC on August 15, 2024 (File No. 333-281208) (the "<u>Registration Statement</u>"), which also contains a base prospectus (the "<u>Base Prospectus</u>" and, together with the Prospectus Supplement, the "<u>Prospectus</u>"). The Prospectus Supplement has been filed pursuant to Rule 424(b) promulgated under the Securities Act of 1933, as amended (the "<u>Securities Act</u>").

In rendering the opinions set forth below, we have examined and relied upon (i) the Registration Statement and the Prospectus; (ii) the Sixth Amended and Restated Certificate of Incorporation of the Company, as amended to the date hereof; (iii) the Second Amended and Restated Bylaws of the Company, as amended to the date hereof; (iv) the Sales Agreement; (v) resolutions of the Board of Directors of the Company dated December 7, 2023; and (vi) such other certificates and other instruments and documents as we consider appropriate for purposes of the opinions hereafter expressed.

In connection with this opinion, we have assumed that all Shares will be issued and sold in the manner stated in the Prospectus and the Sales Agreement.

Based upon the foregoing and subject to the assumptions, exceptions, limitations and qualifications set forth herein, we are of the opinion that the Shares, when issued and delivered against payment therefor in accordance with the Sales Agreement, will be validly issued, fully paid and non-assessable.

---

| | |
|:---|:---|
| **Vinson & Elkins LLP Attorneys at Law**<br> Austin Dallas Denver Dubai Dublin Houston London Los Angeles<br> New York Richmond San Francisco Tokyo Washington | 845 Texas Avenue, Suite 4700<br> Houston, TX 77002<br> Tel +1.713.758.2222 Fax +1.713.758.2346 velaw.com |

---

------

---

| | |
|:---|:---|
| ![LOGO](g37543g1104072224689.jpg) | November 6, 2025 Page 2 |

---

The opinions expressed herein are qualified in the following respects:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;A. We have assumed that (i) each document submitted to us for review is accurate and complete, each such document that is an original is authentic, each such document that is a copy conforms to an authentic original and all signatures on each such document are genuine, and (ii) each certificate from governmental officials reviewed by us is accurate, complete and authentic, and all official public records are accurate and complete.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;B. This opinion is limited in all respects to the federal laws of the United States, the Delaware General Corporation Law and the Constitution of the State of Delaware, as interpreted by the courts of the State of Delaware and of the United States. We are expressing no opinion as to the effect of the laws of any other jurisdiction.

We hereby consent to the filing of this opinion as Exhibit 5.1 to the Company's Current Report on Form 8-K dated on or about the date hereof, to the incorporation by reference of this opinion into the Registration Statement and to the reference to our firm under the caption "Legal Matters" in the Prospectus forming a part of the Registration Statement. In giving this consent, we do not hereby admit that we are within the category of persons whose consent is required under Section 7 of the Securities Act.

---

| |
|:---|
| Very truly yours, |
| */s/ Vinson & Elkins L.L.P.* |
| Vinson & Elkins L.L.P. |

---