Lexicon to raise $95 million

Lexicon Pharmaceuticals Inc. (NASDAQ:LXRX) plans to raise $95 million in a follow-on underwritten by Morgan Stanley; JPMorgan; Cowen; and Thomas Weisel. In January, Lexicon's LX4211 met the primary endpoint in a Phase II trial to treat Type II diabetes. The compound is a sodium-glucose cotransporter type 2 ( SGLT2) inhibitor (See BioCentury, Jan. 25, 2010). ...