Lexicon hops on public offering train to prepare for next year's potential drug approval
Public offerings and private placements have for years been part of the lexicon for Nasdaq-listed biopharmas, but they’ve become more prominent amid a bear market and a common tactic for drug developers in the hours and days after disclosing positive news.
Lexicon Pharmaceuticals is the latest. A day after saying the FDA had accepted its drug resubmission for heart failure, the Texas biotech eyes $85 million in gross proceeds from a public offering and a private placement, almost split evenly.
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