On October 16, 2020, our wholly-owned subsidiary, Lex-Gen Woodlands, L.P. ("Lex-Gen Woodlands"), reported that it entered into a Real Estate Purchase and Sale Agreement (the "Agreement") with Nurix Therapeutics, Inc. ("Purchaser") (Filing, 8-K, Lexicon Pharmaceuticals, OCT 16, 2020, View Source [SID1234568801]).

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Under the Agreement, we agreed to sell our facilities in The Woodlands, Texas (the "Property") to Purchaser for a purchase price of $11.9 million. Such sale is subject to normal and customary closing conditions, including a study period which extends until November 20, 2020, during which Purchaser may conduct inspections, analyses and other studies of the Property and may terminate the Agreement in its discretion. We also agreed to enter into a leaseback agreement for a period of six months with respect to a portion of the Property concurrently with closing.

The foregoing description of the Agreement does not purport to be complete and is qualified in its entirety by reference to the Agreement filed as an exhibit hereto.