EXPLANATORY NOTE
This Amendment No. 22 hereby amends and supplements the statement of beneficial ownership on Schedule 13D, relating to the common stock,
$0.001 par value per share (the Issuer Common Stock), of Lexicon Pharmaceuticals, Inc., a Delaware corporation (the Issuer or Lexicon), initially filed on June 27, 2007, as amended by Amendment No. 1
thereto filed on August 24, 2007, Amendment No. 2 thereto filed on August 29, 2007, Amendment No. 3 thereto filed on October 8, 2009, Amendment No. 4 thereto filed on October 15, 2009, Amendment No. 5 thereto
filed on March 19, 2010, Amendment No. 6 thereto filed on August 15, 2011, Amendment No. 7 thereto filed on November 14, 2011, Amendment No. 8 thereto filed on December 27, 2011, Amendment No. 9 thereto filed
on February 24, 2012, Amendment No. 10 thereto filed on April 10, 2012, Amendment No. 11 thereto filed on October 26, 2012, Amendment No. 12 thereto filed on November 26, 2014, Amendment No. 13 thereto filed
on June 4, 2018, Amendment No. 14 thereto filed on June 29, 2018, Amendment No. 15 thereto filed on December 16, 2020, Amendment No. 16 thereto filed on January 5, 2021, Amendment No. 17 thereto filed on
January 21, 2021, Amendment No. 18 thereto filed on August 1, 2022, Amendment No. 19 thereto filed on August 9, 2022, Amendment No. 20 thereto filed on June 6, 2023 and Amendment No. 21 thereto filed on
March 13, 2024 (as so amended, the Statement). All capitalized terms not otherwise defined herein have the meaning assigned to them in the Statement.
Item 4. Purpose of Transaction
Item 4 of the Statement is hereby amended and supplemented as follows:
As previously disclosed in Amendment No. 21, on March 13, 2024, Artal International S.C.A. acquired 1,150,922 shares of Preferred
Stock. Each share of Preferred Stock would automatically convert into 50 shares (subject to adjustments) of Issuer Common Stock immediately following the satisfaction of all of the following conditions: (i) the approval of the New Charter by
the shareholders of the Issuer at the Annual Meeting; (ii) the adoption of the New Charter by the Issuers board of directors; and (iii) the filing and acceptance of the New Charter with and by the Secretary of State of the State of
Delaware. On May 10, 2024, all conditions were met, and the 1,150,922 shares of Preferred Stock directly held by Artal International S.C.A. automatically converted into 57,546,100 shares of Issuer Common Stock.
Item 5. Interest in Securities of the Issuer
Items 5(a)-(c) of the Statement are hereby amended and restated in their entirety as follows:
The information contained in rows 7, 8, 9, 10, 11 and 13 on each of the cover pages of this Schedule 13D and the information set forth or
incorporated in Items 2, 3 and 6 is incorporated by reference in its entirety into this Item 5.
(a)-(b) Invus Public Equities, L.P. is
the record and beneficial owner of 3,516,214 shares of Issuer Common Stock, representing approximately 1.0% of the outstanding shares of Issuer Common Stock. Invus Public Equities Advisors, LLC, as the general partner of Invus Public Equities, L.P.,
controls Invus Public Equities, L.P. and, accordingly, may be deemed to beneficially own the shares of Issuer Common Stock held by Invus Public Equities, L.P. The Geneva branch of Artal International S.C.A., as the managing member of Invus Public
Equities Advisors, LLC, controls Invus Public Equities Advisors, LLC and, accordingly, may be deemed to beneficially own the shares of Issuer Common Stock that Invus Public Equities Advisors, LLC may be deemed to beneficially own. Each of Invus
Public Equities Advisors, LLC and the Geneva branch of Artal International S.C.A. disclaims such beneficial ownership.
Invus, L.P. is the
record owner of 35,402,689 shares of Issuer Common Stock and the beneficial owner of 38,918,903 shares of Issuer Common Stock, representing approximately 9.8% and approximately 10.8% of the outstanding shares of Issuer Common Stock, respectively.
Invus Advisors, L.L.C., as the general partner of Invus, L.P., controls Invus, L.P. and, accordingly, may be deemed to beneficially own the shares of Issuer Common Stock held by Invus, L.P. Invus Advisors, L.L.C. disclaims such beneficial ownership.
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