Equity Incentive Awards (Tables)

3 Months Ended

Mar. 31, 2024

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 three months ended March 31, 2024 and 2023:

	Expected Volatility		Risk-free Interest Rate		Expected Term	Dividend Rate
March 31, 2024
Employees	96	%	4.3	%	4	—	%
Officers and non-employee directors	104	%	4.2	%	6	—	%
March 31, 2023
Employees	112	%	4.1	%	4	—	%
Officers and non-employee directors	98	%	3.9	%	6	—	%

Share-based Payment Arrangement, Option, Activity

The following is a summary of stock option activity under Lexicon’s stock-based compensation plans for the three months ended March 31, 2024:

	Stock Options	Weighted Average Exercise Price
	(in thousands)
Outstanding at December 31, 2023	18,705	$	3.93
Granted	3,822	2.16
Exercised	(51)	1.72
Expired	(148)	12.04
Forfeited	(670)	2.21
Outstanding at March 31, 2024	21,658	3.62
Exercisable at March 31, 2024	9,631	$	5.03

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 three months ended March 31, 2024:

	RSU’s	Weighted Average Grant Date Fair Value
	(in thousands)
Outstanding at December 31, 2023	5,015	$	2.78
Granted	8,270	2.15
Vested	(1,921)	3.12
Forfeited	(297)	2.32
Outstanding at March 31, 2024	11,067	$	2.26