Pharmaceutical company focusing on neuropsychiatric drugs, LB Pharma, submits application for initial public offering in the United States
LB Pharmaceuticals, a New York-based drug developer, has submitted regulatory filings seeking a listing on the Nasdaq Global Market. If successful, the company will trade under the ticker symbol LBRX.
Founded in 2015, LB Pharmaceuticals has been focusing on the development of its pipeline, which has led to rising expenses. As a result, the company has reported no revenue from product sales in its latest reported period.
Despite these losses, LB Pharmaceuticals' cash and cash equivalents could fund operations and capital expenditures for at least 12 more months, as of June 30, 2025. The company's accumulated deficit stood at approximately $14.2 million as of that date.
LB Pharmaceuticals' lead candidate is a Phase 3-ready schizophrenia treatment known as LB-102. The company has been working diligently on the development of this potential treatment, which could have significant implications for the treatment of schizophrenia.
In an effort to secure additional funds, LB Pharmaceuticals entered into Royalty Participation Agreements with Sancilio & Company, an investment firm, and its existing investors in 2016. These agreements allowed LB Pharmaceuticals to sell up to 5% of royalties linked to LB-102 in exchange for $0.2 million of upfront cash.
The company's losses expanded from $6.3 million in 2023 to $63.1 million in 2024, due to the rising expenses associated with the development of its pipeline. As of June 30, 2024, LB Pharmaceuticals had an accumulated deficit of approximately $120.3 million.
LB Pharmaceuticals' journey towards listing on the Nasdaq Global Market continues, and if successful, it could provide the company with the necessary resources to further its research and development efforts, potentially bringing LB-102 and other treatments to market.
