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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
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FORM 8-K
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CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
DATE OF REPORT (DATE OF EARLIEST EVENT REPORTED): JANUARY 7, 2005
LEXICON GENETICS INCORPORATED
(EXACT NAME OF REGISTRANT AS SPECIFIED IN ITS CHARTER)
DELAWARE 000-30111 76-0474169
(STATE OR OTHER JURISDICTION OF (COMMISSION FILE NUMBER) (I.R.S. EMPLOYER
INCORPORATION OR ORGANIZATION) IDENTIFICATION NUMBER)
8800 TECHNOLOGY FOREST PLACE
THE WOODLANDS, TEXAS 77381
(ADDRESS OF PRINCIPAL EXECUTIVE
OFFICES AND ZIP CODE)
(281) 863-3000
(REGISTRANT'S TELEPHONE NUMBER,
INCLUDING AREA CODE)
Check the appropriate box below if the Form 8-K filing is intended to
simultaneously satisfy the filing obligations of the registrant under any of the
following provisions:
[ ] Written communications pursuant to Rule 425 under the Securities Act
(17 CFR 230.425)
[ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act
(17 CFR 240.14a-12)
[ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the
Exchange Act (17 CFR 240.14d-2(b))
[ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the
Exchange Act (17 CFR 240.13e-4(c))
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ITEM 2.02 RESULTS OF OPERATIONS AND FINANCIAL CONDITION
Based on preliminary, unaudited financial data, Lexicon Genetics
Incorporated expects that its revenues for the year ended December 31, 2004 will
exceed $60 million, representing an increase of more than 40% from 2003. Lexicon
expects to achieve revenues for 2005 in the range of $70 million to $75 million.
This includes approximately $48 million of revenues expected under existing
alliance, collaboration and technology license agreements. Lexicon had
unrestricted cash and investments of approximately $87 million (unaudited) at
December 31, 2004. Lexicon believes that its unrestricted cash and investments,
coupled with the revenues it expects to derive from alliances, collaborations
and technology licenses, will be sufficient to fund its operations at least
through the next two years.
Lexicon will release its fourth quarter and year-end 2004 financial
results on a conference call currently scheduled for Thursday, February 24,
2005.
The information in this Form 8-K shall not be deemed "filed" for
purposes of Section 18 of the Securities Exchange Act of 1934 (the "Exchange
Act") or otherwise subject to the liabilities of that section, nor shall it be
deemed incorporated by reference in any filing under the Securities Act of 1933
or the Exchange Act, except as expressly set forth by specific reference in such
a filing.
Safe Harbor Statement
This Form 8-K contains "forward-looking statements," which are based on
management's current assumptions and expectations and involve risks,
uncertainties and other important factors, specifically including those relating
to Lexicon's ability to achieve its financial and operational objectives and
establish new alliance, collaboration and technology license agreements, that
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 "Factors Affecting
Forward-Looking Statements" and "Business - Risk Factors" in Lexicon's annual
report on Form 10-K for the year ended December 31, 2003, as 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.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934,
the registrant has duly caused this report to be signed on its behalf by the
undersigned thereunto duly authorized.
LEXICON GENETICS INCORPORATED
Date: January 7, 2005 By: /s/ JEFFREY L. WADE
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Jeffrey L. Wade
Executive Vice President and
General Counsel