LB Pharmaceuticals Inc (LBRX) News & EventsLBRXLB Pharmaceuticals Inc

LB Pharmaceuticals Enters Private Placement to Sell 3,577,560 Shares

LB Pharmaceuticals announced that it has entered into a securities purchase agreement to sell 3,577,560 shares of its common stock and pre-funded warrants to purchase up to 715,513 shares of its common stock to a limited group of institutional investors in a private placement. The purchase price of each share of common stock is $34.94. The purchase price of each pre-funded warrant is $34.9399, which represents the per share purchase price for the common stock less the $0.0001 per share exercise price for such pre-funded warrant. LB Pharmaceuticals anticipates the gross proceeds from the private placement to be approximately $150M, before deducting any transaction-related expenses. The private placement is expected to close on or about July 30, subject to the satisfaction of customary closing conditions. Leerink Partners and Piper Sandler acted as placement agents for the private placement.

LB Pharmaceuticals Expects Topline Results from LB-102 Trial in H1 2027

LB Pharmaceuticals announced that based on enrollment projections, it now expects to report topline results from the pivotal Phase 3 NOVA-2 clinical trial of LB-102 in patients with schizophrenia in the first half of 2027 and to schedule a pre-NDA meeting with the FDA thereafter in the second half of 2027. NOVA-2 is a pivotal Phase 3 multi-center, randomized, double-blind, placebo-controlled trial evaluating the efficacy and safety of LB-102 for the treatment of schizophrenia. The trial is designed to enroll approximately 460 patients across 25 sites in the U.S.

LB Pharmaceuticals CEO Outlines Future Clinical Data Releases

"With multiple clinical trials ongoing, our focus is on execution to support several clinical readouts over the next three years that have the potential to unlock tremendous value of LB-102 in both psychosis and mood disorder indications," said Heather Turner, CEO of LB Pharmaceuticals. "We remain on track for topline data from NOVA-2 in schizophrenia in the second half of 2027, from ILLUMINATE-1 in bipolar depression in the first quarter of 2028 and in adjunctive MDD in the first half of 2029. Our recent successful financing supports the expansion of our pipeline and positions us to advance our strategy of building a fully integrated neuropsychiatric company."