Sec Form 4 Filing - Artal International S.C.A. @ LEXICON PHARMACEUTICALS, INC. - 2024-03-13

FORM 4 Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940

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1. Name and Address of Reporting Person Artal International S.C.A. 2. Issuer Name and Ticker or Trading Symbol LEXICON PHARMACEUTICALS, INC. [ LXRX] 5. Relationship of Reporting Person(s) to Issuer (Check all applicable) X __ Director X __ 10% Owner _____ Officer (give title below) _____ Other (specify below) (Last) (First) (Middle) VALLEY PARK, 44, RUE DE LA VALLEE 3. Date of Earliest Transaction (MM/DD/YY) 03/13/2024 (Street) LUXEMBOURG, N4L-2661 4. If Amendment, Date Original Filed (MM/DD/YY) 6. Individual or Joint/Group Filing (Check Applicable Line) _____ Form filed by One Reporting Person __ X __ Form filed by More than One Reporting Person (City) (State) (Zip)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned 1.Title of Security (Instr. 3) 2. Transaction Date (MM/DD/YY) 2A. Deemed Execution Date, if any (MM/DD/YY) 3. Transaction Code (Instr. 8) 4. Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5) 5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4) 6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4) Code V Amount (A) or (D) Price Series A Convertible Preferred Stock 03/13/2024 A( 1 ) 1,150,922 A $ 108.5 1,150,922 I See Footnotes ( 2 ) ( 3 )

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned ( e.g. , puts, calls, warrants, options, convertible securities) 1. Title of Derivative Security (Instr. 3) 2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (MM/DD/YY) 3A. Deemed Execution Date, if any (MM/DD/YY) 4. Transaction Code (Instr. 8) 5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4, and 5) 6. Date Exercisable and Expiration Date (MM/DD/YY) 7. Title and Amount of Underlying Securities (Instr. 3 and 4) 8. Price of Derivative Security (Instr. 5) 9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) 10. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 4) 11. Nature of Indirect Beneficial Ownership (Instr. 4) Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares

Reporting Owners Reporting Owner Name / Address Relationships Director 10% Owner Officer Other Artal International S.C.A. VALLEY PARK, 44, RUE DE LA VALLEE LUXEMBOURG, N4L-2661 X X Wittouck Amaury VALLEY PARK, 44, RUE DE LA VALLEE LUXEMBOURG, N4L-2661 X X Artal International Management S.A. VALLEY PARK, 44, RUE DE LA VALLEE LUXEMBOURG, N4L-2661 X X Artal Group S.A. VALLEY PARK, 44, RUE DE LA VALLEE LUXEMBOURG, N4L-2661 X X Westend S.A. VALLEY PARK, 44, RUE DE LA VALLEE LUXEMBOURG, N4L-2661 X X Stichting Administratiekantoor Westend CLAUDE DEBUSSYLAAN 46 AMSTERDAM, P71082 MD X X Invus Public Equities, L.P. 750 LEXINGTON AVENUE, 30TH FLOOR NEW YORK, NY10022 X X Invus, L.P. 750 LEXINGTON AVENUE, 30TH FLOOR NEW YORK, NY10022 X X Invus Public Equities Advisors, LLC 750 LEXINGTON AVENUE, 30TH FLOOR NEW YORK, NY10022 X X Invus Advisors, L.L.C. 750 LEXINGTON AVENUE, 30TH FLOOR NEW YORK, NY10022 X X Signatures ARTAL INTERNATIONAL S.C.A., By: Artal International Management S.A., its managing partner, By: /s/ Pierre Claudel, Name: Pierre Claudel, Title: Managing Director 03/13/2024 Signature of Reporting Person Date ARTAL INTERNATIONAL MANAGEMENT S.A., By: /s/ Pierre Claudel, Name: Pierre Claudel, Title: Managing Director 03/13/2024 Signature of Reporting Person Date ARTAL GROUP S.A., By: /s/ Anne Goffard, Name: Anne Goffard, Title: Authorized Person 03/13/2024 Signature of Reporting Person Date WESTEND S.A., By: /s/ Pierre Claudel, Name: Pierre Claudel, Title: Managing Director 03/13/2024 Signature of Reporting Person Date STICHTING ADMINISTRATIEKANTOOR WESTEND, By: /s/ Amaury Wittouck, Name: Amaury Wittouck, Title: Sole Member of the Board 03/13/2024 Signature of Reporting Person Date AMAURY WITTOUCK, By: /s/ Amaury Wittouck 03/13/2024 Signature of Reporting Person Date INVUS L.P., By: Invus Advisors L.L.C., its general partner, By: /s/ Philip Bafundo, Name: Philip Bafundo, Title: Chief Financial Officer 03/13/2024 Signature of Reporting Person Date Invus Public Equities, L.P., By: Invus Public Equities Advisors, LLC, its general partner, By: /s/ Philip Bafundo, Name: Philip Bafundo, Title: Chief Financial Officer 03/13/2024 Signature of Reporting Person Date Invus Advisors L.L.C., By: /s/ Philip Bafundo, Name: Philip Bafundo, Title: Chief Financial Officer 03/13/2024 Signature of Reporting Person Date Invus Public Equities Advisors, LLC., By: /s/ Philip Bafundo, Name: Philip Bafundo, Title: Chief Financial Officer 03/13/2024 Signature of Reporting Person Date

Explanation of Responses:

( 1 )On March 11, 2024, Artal International S.C.A. entered into a purchase agreement (the "Purchase Agreement") with the Issuer pursuant to which Artal International S.C.A. agreed to purchase 1,150,922 shares of Series A convertible preferred stock, $0.01 par value per share (the "Preferred Stock") of the Issuer at a price of $108.50 per share (the "Purchase Price"). Each share of Preferred Stock will automatically convert into 50 shares of the Issuer's common stock, par value $0.001 per share (the "Common Stock") upon receipt of shareholder approval and the satisfaction of certain other conditions; however, absent the satisfaction of such conditions, the shares are not convertible. The purchase closed on March 13, 2024. ( 2 )These securities are directly held by Artal International S.C.A. The managing partner of Artal International S.C.A. is Artal International Management S.A. The sole stockholder of Artal International Management S.A. is Artal Group S.A. The parent company of Artal Group S.A. is Westend S.A. The majority stockholder of Westend S.A. is Stichting Administratiekantoor Westend (the "Stichting"). Mr. Amaury Wittouck is the sole member of the board of the Stichting. ( 3 )Each of the Reporting Persons (other than to the extent it directly holds securities reported herein) disclaims beneficial ownership of the securities held by the other Reporting Persons, except to the extent of such Reporting Person's pecuniary interest therein, and, pursuant to Rule 16a-1(a)(4) under the Securities Exchange Act of 1934, as amended (the "Exchange Act"), each of the Reporting Persons (other than to the extent it directly holds securities reported herein) states that the inclusion of these securities in this report shall not be deemed an admission of beneficial ownership of all of the reported securities for purposes of Section 16 of the Exchange Act or for any other purpose.

Remarks: This Form 4 does not include 3,516,214 shares of Common Stock held by Invus Public Equities, L.P.; 35,402,689 shares of Common Stock held by Invus, L.P.; and 78,634,381 shares of Common Stock held by Artal International S.C.A. Invus Public Equities Advisors, LLC is the general partner of Invus Public Equities, L.P., and Invus Advisors, L.L.C. is the general partner of Invus, L.P. The Geneva branch of Artal International S.C.A. is the managing member of Invus Public Equities Advisors, LLC. Artal International S.C.A. is the managing member of Invus Advisors, L.L.C. Invus US Partners LLC also directly holds 5,451,204 shares of Common Stock, which securities are reported on a separate Form 4. For purposes of Section 16 of the Exchange Act, the Reporting Persons may be deemed to be directors by deputization of the Issuer by virtue of Invus, L.P.'s right to designate certain members of the Issuer's board of directors pursuant to a stockholders' agreement between the Issuer and Invus, L.P.

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.

* If the form is filed by more than one reporting person, see Instruction 4(b)(v).

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