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Equity Incentive Awards (Tables)

9 Months Ended

Sep. 30, 2025

Share-Based Payment Arrangement [Abstract]

Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions

The following weighted-average assumptions were used for stock options granted in the nine months ended September 30, 2025 and 2024:

						Expected Volatility						Risk-free Interest Rate						Expected Term						Dividend Rate
Nine Months Ended September 30, 2025
Employees						105		%				3.9		%				4						—		%
Officers and non-employee directors						115		%				4.3		%				6						—		%
Nine Months Ended September 30, 2024
Employees						96		%				4.4		%				4						—		%
Officers and non-employee directors						104		%				4.2		%				6						—		%

Share-based Payment Arrangement, Option, Activity

The following is a summary of stock option activity under Lexicon’s stock-based compensation plans:

						Stock Options						Weighted Average Exercise Price
						(in thousands)
Outstanding at December 31, 2024						15,389						$	3.20
Granted						10,594						0.69
Exercised						—						—
Expired						(310)						6.41
Forfeited						(4,723)						2.86
Outstanding at September 30, 2025						20,950						1.96
Exercisable at September 30, 2025						7,331						$	3.63

Schedule of Nonvested Restricted Stock Units Activity

The following is a summary of restricted stock unit activity under Lexicon’s stock-based compensation plans:

						RSU’s						Weighted Average Grant Date Fair Value
						(in thousands)
Outstanding at December 31, 2024						6,300						$	2.27
Granted						14,323						0.69
Vested						(2,761)						2.35
Forfeited						(2,393)						1.18
Outstanding at September 30, 2025						15,469						$	0.96

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Tabular disclosure of the changes in outstanding nonvested restricted stock units.

+ References

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-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(2)
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Tabular disclosure for stock option plans. Includes, but is not limited to, outstanding awards at beginning and end of year, grants, exercises, forfeitures, and weighted-average grant date fair value.

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-SubTopic 10
-Name Accounting Standards Codification
-Section 50
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-Subparagraph (c)(1)
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Tabular disclosure of the significant assumptions used during the year to estimate the fair value of stock options, including, but not limited to: (a) expected term of share options and similar instruments, (b) expected volatility of the entity's shares, (c) expected dividends, (d) risk-free rate(s), and (e) discount for post-vesting restrictions.

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