On December 29, 2023, Lexicon Pharmaceuticals, Inc. and one of its subsidiaries entered into a fourth amendment (Fourth Amendment) to its loan and security agreement (Loan Agreement) with Oxford Finance LLC and the lenders listed therein. Under the terms of the Fourth Amendment, the existing financial covenants relating to net sales of INPEFA ® (sotagliflozin) and minimum cash balance requirements were each modified, with the financial covenant relating to minimum cash balance requirements becoming immediately effective rather than upon Lexicon?s exercise of its option to fund the fourth tranche and following its funding. Such fourth tranche, under which $25 million was previously available for draw at Lexicon?s option between December 1 and December 31, 2023, will now be available upon the achievement of specified INPEFA net sales and until April 15, 2025.

Lexicon may not extend the initial 36-month interest-only period to 48 months at its option as previously contemplated. This Fourth Amendment to Loan and Security Agreement is entered into as of December 29, 2023, by and among OXFORD FINANCE LLC as collateral agent (in such capacity, ?Collateral Agent?), the Lenders a party hereto from time to time including OXFORD FINANCE CREDIT FUND II, LP, by its manager Oxford Finance Advisors, LLC (Credit Fund II), OXFORD FINANCE CREDIT FUND III, LP, by its manager Oxford Finance Advisors, LLC (Credit Fund III), OXFORD FINANCE FUNDING IX, LLC (Funding IX), OXFORD FINANCE FUNDING XIII, LLC (Funding XIII), and OXFORD FINANCE FUNDING 2023-1, LLC (Funding 2023-1?; together with Credit Fund II, Credit Fund III, Funding IX, and Funding XIII, each a ?Lender? and collectively, the ?Lenders?), LEXICON PHARMACEUTICALS, INC. (?Parent?) and LEXICON PHARMACEUTICALS (NEW JERSEY), INC. (?Lex-NJ?), each a Delaware corporation with offices located at 2445 Technology Forest Blvd., 11th Floor, The Woodlands, TX 77381 (Parent and Lex-NJ, individually and collectively, jointly and severally, ?Borrower?).