LB Pharmaceuticals (LBRX) upsized its IPO at pricing to 19.0 million shares – up from 16.67 million shares in the prospectus – and priced the deal at $15.00 – the mid-point of its $14.00-to-$16.00 range – to raise $285 million on Wednesday night, Sept. 10, 2025. The clinical biotech’s stock opened Thursday, Sept. 11, at $19.00 – up $4.00 from its IPO price for a 26.7 percent gain – at noon EDT on the NASDAQ. (This column, published Wednesday evening, Sept. 10, 2025, was updated at midday on Thursday, Sept. 11, with news on LB Pharmaceuticals’ debut on the NASDAQ.)
Leerink Partners, Piper Sandler and Stifel served as the joint book-runners.
LB Pharmaceuticals, based in New York, is developing its lead product candidate, LB-102, as an oral small molecule therapy to treat acute schizophrenia, according to the prospectus.
Schizophrenia is “defined as a sudden and severe episode of psychotic symptoms, characterized by hallucinations, delusions, and other positive symptoms,” the prospectus said. “Schizophrenia is a chronic severe, complex and debilitating psychiatric disorder that affects about 1 percent of the U.S. population. It is a leading cause of disability.”
The company said it plans “to start a Phase 3 trial in the first quarter of 2026.”
LB Pharmaceuticals is not profitable. The company reported a net loss for the 12 months that ended June 30, 2025. The company has not generated any product revenue yet.
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(For more information about these companies, please check the IPO Calendar and the individual IPO Profiles found on the IPOScoop.com website.)
Note: Never trade on proposed symbols. They have been known to change and you might buy something on the OTC Bulletin Board.
To see what time the NASDAQ IPOs are expected to trade, please log in to: NASDAQTrader.com then scroll down to IPO Message.
Disclosure: Nobody on the IPOScoop.com staff has a position in any stocks mentioned above, nor do they trade or invest in IPOs. The IPOScoop.com staff does not issue advice, recommendations or opinions.
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