THE WOODLANDS, Texas, Jan. 02, 2025 (GLOBE NEWSWIRE) -- Lexicon Pharmaceuticals, Inc. (NASDAQ:LXRX) today announced the appointment of Scott Coiante as senior vice president and chief financial officer, effective today, January 2, 2025.

Mr. Coiante is a senior finance executive with more than 35 years of experience in the life science and pharmaceutical industries. He joins Lexicon from Agile Therapeutics, where he served as the senior vice president, chief financial officer and treasurer of Agile Therapeutics Inc. from August 2023 to August 2024, as well as from 2011-2019.

"I am pleased to join Lexicon at this pivotal moment for the company and eager to contribute to its ambitious mission of transforming patients' lives with innovative medicines," said Mr. Coiante. "I look forward to working with the talented team at Lexicon to drive financial strategies that align with the Company's vision, support its promising R&D pipeline programs and drive growth."

During his tenure at Agile Therapeutics, Mr. Coiante was responsible for all financial activities, including supporting business development and fundraising activities. Mr. Coiante also previously served as senior vice president, chief financial officer, treasurer and secretary at Aprea Therapeutics and held several senior financial positions at Medarex Inc, where he supported the transition following the company's acquisition by Bristol-Myers Squibb. Mr. Coiante has a B.S. from Villanova University.

"We are thrilled to welcome Scott as our new chief financial officer," said Mike Exton, Ph.D., chief executive officer and director of Lexicon. "His extensive experience aligns with our ongoing shift in strategy to focus on high-impact therapeutic areas. As we continue to refine and execute our Lead to Succeed strategy, Scott will be instrumental in steering Lexicon toward sustainable growth and creating significant value for our shareholders while advancing our R&D programs."

About Lexicon Pharmaceuticals

Lexicon is a biopharmaceutical company with a mission of pioneering medicines that transform patients' lives. Through the Genome5000™ program, Lexicon's unique genomics target discovery platform, Lexicon scientists studied the role and function of nearly 5,000 genes and identified more than 100 protein targets with significant therapeutic potential in a range of diseases. Through the precise targeting of these proteins, Lexicon is pioneering the discovery and development of innovative medicines to treat disease safely and effectively. Lexicon has a pipeline of promising drug candidates in discovery and clinical and preclinical development in cardiology, neuropathic pain, metabolism and other indications. For additional information, please visit www.lexpharma.com.

Safe Harbor Statement

This press release contains "forward-looking statements," including statements relating to Lexicon's financial position and long-term outlook on its business, growth and future operating results, discovery and development of products, strategic alliances and intellectual property, as well as other matters that are not historical facts or information. All forward-looking statements are based on management's current assumptions and expectations and involve risks, uncertainties and other important factors, specifically including Lexicon's ability to meet its capital requirements, conduct preclinical and clinical development and obtain necessary regulatory approvals of sotagliflozin, LX9211, LX9851 and its other drug candidates on its anticipated timelines, achieve its operational objectives, obtain patent protection for its discoveries and establish strategic alliances, as well as additional factors relating to manufacturing, intellectual property rights, and the therapeutic or commercial value of its drug candidates. Any of these risks, uncertainties and other factors may cause Lexicon's actual results to be materially different from any future results expressed or implied by such forward-looking statements. Information identifying such important factors is contained under "Risk Factors" in Lexicon's annual report on Form 10-K for the year ended December 31, 2023 and other subsequent disclosure documents filed with the Securities and Exchange Commission. Lexicon undertakes no obligation to update or revise any such forward-looking statements, whether as a result of new information, future events or otherwise.

For Investor and Media Inquiries:

Lisa DeFrancesco

Lexicon Pharmaceuticals, Inc.

lexinvest@lexpharma.com

Lexicon Appoints Scott Coiante as Chief Financial Officer