Equity Incentive Awards (Tables)

9 Months Ended

Sep. 30, 2023

Share-Based Payment Arrangement [Abstract]

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

The Company utilized the Black-Scholes valuation model for estimating the fair value of the stock option compensation granted, with the following weighted-average assumptions for stock options granted in the nine months ended September 30, 2023 and 2022:

	Expected Volatility		Risk-free Interest Rate		Expected Term	Dividend Rate
September 30, 2023
Employees	93	%	3.9	%	4	—	%
Officers and non-employee directors	100	%	3.9	%	6	—	%
September 30, 2022
Employees	107	%	2.4	%	4	—	%
Officers and non-employee directors	91	%	1.9	%	7	—	%

Share-based Payment Arrangement, Option, Activity

The following is a summary of stock option activity under Lexicon’s stock-based compensation plans for the nine months ended September 30, 2023:

	Stock Options	Weighted Average Exercise Price
	(in thousands)
Outstanding at December 31, 2022	12,349	$	5.10
Granted	7,216	2.43
Expired	(152)	14.68
Forfeited	(785)	4.52
Outstanding at September 30, 2023	18,628	4.01
Exercisable at September 30, 2023	7,700	$	5.75

Schedule of Nonvested Restricted Stock Units Activity

The following is a summary of restricted stock unit activity under Lexicon’s stock-based compensation plans for the nine months ended September 30, 2023:

	RSU’s	Weighted Average Grant Date Fair Value
	(in thousands)
Outstanding at December 31, 2022	2,748	$	3.78
Granted	4,199	2.41
Vested	(1,290)	3.80
Forfeited	(250)	2.73
Outstanding at September 30, 2023	5,407	$	2.76