Statement of Changes in Beneficial Ownership (Form 4)

FORM 4 Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b). Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

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

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(Print or Type Responses)

1. Name and Address of Reporting Person * Invus Global Management, LLC 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) 750 LEXINGTON AVENUE, 30TH FLOOR, 3. Date of Earliest Transaction (Month/Day/Year) 02/02/2026 (Street) NEW YORK, NY 10022 4. If Amendment, Date Original Filed (Month/Day/Year) 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 (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 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 Common Stock 02/02/2026 A(1) 18,553,846 A $1.3 154,734,327 I See Footnotes(4)(9)(15) Common Stock 02/02/2026 A(1) 3,846,154 A $1.3 7,362,368 I See Footnotes(5)(10)(15) Common Stock 02/02/2026 P(2) 1,538,462 A $1.3 1,538,462 I See Footnotes(6)(11)(15) Series B Convertible Preferred Stock 02/02/2026 A(3) 367,145.12 A $65 367,145.12 I See Footnotes(4)(9)(15) Common Stock 35,402,689 I See Footnotes(7)(12)(15) Common Stock 5,451,204 I See Footnotes(8)(13)(15) Common Stock 1,385,689 I See Footnotes(14)(15)

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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 (Month/Day/Year)

3A. Deemed Execution Date, if any (Month/Day/Year)

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 (Month/Day/Year)

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
Invus Global Management, LLC 750 LEXINGTON AVENUE, 30TH FLOOR NEW YORK, NY 10022	X	X
Siren, L.L.C. C/O THE INVUS GROUP, LLC 750 LEXINGTON AVENUE 30TH FLOOR NEW YORK, NY 10022	X	X
DEBBANE RAYMOND C/O THE INVUS GROUP, LLC 750 LEXINGTON AVENUE 30TH FLOOR NEW YORK, NY 10022	X
Artal Participations S.a r.l. VALLEY PARK 44, RUE DE LA VALLEE LUXEMBOURG, N4 L-2661	X	X
Artal International S.C.A. VALLEY PARK, 44, RUE DE LA VALLEE LUXEMBOURG, N4 L-2661	X	X
Artal International Management S.A. VALLEY PARK, 44, RUE DE LA VALLEE LUXEMBOURG, N4 L-2661	X	X
Artal Group S.A. VALLEY PARK, 44, RUE DE LA VALLEE LUXEMBOURG, N4 L-2661	X	X
Westend S.A. VALLEY PARK, 44, RUE DE LA VALLEE LUXEMBOURG, N4 L-2661	X	X
Stichting Administratiekantoor Westend H.J.E. WENCKEBACHWEG 252 AMSTERDAM, P7 1096 AS	X	X

Signatures

See Exhibit 99.1		02/04/2026
**Signature of Reporting Person		Date

Explanation of Responses:

*	If the form is filed by more than one reporting person, see Instruction 4(b)(v).
**	Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
(1)	On January 29, 2026, Artal Participations S.a r.l. entered into a purchase agreement with the Issuer pursuant to which Artal Participations S.a r.l. agreed to purchase 22,400,000 shares of common stock par value $0.001 per share (the "Common Stock") of the Issuer at a price of $1.30 per share (the "Purchase Price"). On January 30, 2026, Artal Participations S.a r.l. assigned its right to purchase from the Issuer 3,846,154 shares of Issuer Common Stock to Invus Public Equities, L.P., and Invus Public Equities, L.P. agreed to purchase directly from the Issuer 3,846,154 shares of Issuer Common Stock at the Purchase Price. The purchase closed on February 2, 2026.
(2)	On February 2, 2026, Avicenna Life Sci Master Fund LP purchased 1,538,462 shares of Common Stock as part of the Issuer's underwritten public offering.
(3)	On January 29, 2026, Artal Participations S.a r.l. entered into a preferred stock purchase agreement (the "Preferred Purchase Agreement") with the Issuer pursuant to which Artal Participations S.a r.l. agreed to purchase 367,145.12 shares of Series B Convertible Preferred Stock, par value $0.01 per share (the "Preferred Stock") of the Issuer at a price of $65.00 per share. The Preferred Purchase Agreement also provides Artal Participations S.a r.l. the right to purchase from the Issuer, up to an additional 94,854.88 shares of Preferred Stock at a price per share of $65.00. Each share of Preferred Stock will automatically convert into 50 shares of the Issuer's 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 February 2, 2026.
(4)	These securities are directly held by Artal Participations S.a r.l.
(5)	These securities are directly held by Invus Public Equities, L.P.
(6)	These securities are directly held by Avicenna Life Sci Master Fund LP
(7)	These securities are directly held by Invus, L.P.
(8)	These securities are directly held by Invus US Partners LLC
(9)	The sole shareholder of Artal Participations S.a r.l. is 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.
(10)	The general partner of Invus Public Equities, L.P. is Invus Public Equities Advisors, LLC. The managing member of Invus Public Equities Advisors, LLC is Invus Global Management, LLC. The managing member of Invus Global Management, LLC is Siren, L.L.C. The managing member of Siren, L.L.C. is Mr. Raymond Debbane.
(11)	The general partner of Avicenna Life Sci Master Fund LP is Avicenna Life Sci Master GP LLC. The managing member of Avicenna Life Sci Master GP LLC is Ulys, L.L.C. The managing member of Ulys, L.L.C. is Mr. Raymond Debbane.
(12)	The general partner of Invus, L.P. is Invus Advisors, L.L.C. The managing member of Invus Advisors, L.L.C. is Invus Global Management, LLC. The managing member of Invus Global Management, LLC. is Siren, L.L.C. The managing member of Siren, L.L.C. is Mr. Raymond Debbane.
(13)	The managing member of Invus US Partners LLC is Ulys, L.L.C. The managing member of Ulys, L.L.C. is Mr. Raymond Debbane.
(14)	These securities are directly held by Mr. Raymond Debbane.
(15)	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: 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.

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