05:20 PM EDT, 03/25/2024 (MT Newswires) -- Lexicon Pharmaceuticals ( LXRX ) on Monday filed a prospectus for the resale of about 57.6 million common shares from time to time through public or private transactions by selling stakeholders.

The shares will be issued following the conversion of outstanding series A convertible preferred stock, according to the company.

Lexicon said it will not receive any proceeds from the sale of shares in the prospectus.

The company shares were down 1.4% in after-hours activity.

Price: 2.09, Change: -0.03, Percent Change: -1.42