Lexicon Pharmaceuticals, Inc. (NASDAQ:LXRX) Files An 8-K Entry into a Material Definitive Agreement

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Lexicon Pharmaceuticals, Inc. (NASDAQ:LXRX) Files An 8-K Entry into a Material Definitive Agreement

Item 1.01

Entry into a Material Definitive Agreement
On April 20, 2017, our wholly-owned subsidiary, Lex-Gen
Woodlands, L.P. (Lex-Gen Woodlands), entered into a Sixth
Amendment to Loan and Security Agreement and to Other Loan
Documents (the Amendment) with iStar Lex Lender LLC (Lender),
amending the terms of the Loan and Security Agreement, dated
April 21, 2004, between Lex-Gen Woodlands and iStar Financial,
Inc. (iStar), as previously amended (the Loan Agreement) and
certain other related agreements. The rights and obligations of
iStar under the Loan Agreement had previously been assigned to
Lender.
The Amendment (a) extends the maturity date of the mortgage on
our facilities in The Woodlands, Texas from April 2017 to April
2018, (b) obligates us to make certain exit interest payments in
the event we prepay the mortgage loan prior to October 10, 2017
and (c) provides that we will maintain liquid assets of at least
$50 million. Under the Amendment, the mortgage loans monthly
payment amount and fixed interest rate are each unchanged and a
balloon payment of $13.4 million will be due in April 2018 in
lieu of the balloon payment of $15.2 million which was previously
due in April 2017.
Item 9.01
Financial Statements and Exhibits>
(d) Exhibits
Exhibit No.
Description
10.1
Sixth Amendment to Loan and Security Agreement and to
Other Loan Documents, dated April 20, 2017, between
Lex-Gen Woodlands, L.P. and iStar Lex Lender LLC


About Lexicon Pharmaceuticals, Inc. (NASDAQ:LXRX)

Lexicon Pharmaceuticals, Inc. (Lexicon) is a biopharmaceutical company. The Company focuses on the development of treatments for human disease. The Company is engaged in the development of two drug candidates: telotristat etiprate (LX1032) and sotagliflozin (LX4211). The Company’s telotristat etiprate, is an orally delivered small molecule drug candidate, as a treatment for carcinoid syndrome. LX1032 inhibits tryptophan hydroxylase (TPH), which is an orally-delivered small molecule compound that the Company is developing for the treatment of carcinoid syndrome. Sotagliflozin, or LX4211, which is an orally-delivered small molecule compound that the Company is developing for the treatment of type 1 and type 2 diabetes mellitus. LX2761 is an orally-delivered small molecule compound for the treatment of diabetes. LX9211 is an orally-delivered small molecule compound for the treatment of neuropathic pain. The Company’s other programs include LX1033, LX2931 and LX7101.

Lexicon Pharmaceuticals, Inc. (NASDAQ:LXRX) Recent Trading Information

Lexicon Pharmaceuticals, Inc. (NASDAQ:LXRX) closed its last trading session down -0.03 at 14.97 with 459,963 shares trading hands.

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