LB Prescription drugs tops 2025 biotech IPO record with $285m Nasdaq debut
US-based biotech LB Prescription drugs has damaged the 2025 biotech preliminary public providing (IPO) drought – and with fashion – elevating $285m through a public itemizing on the US inventory market.
The corporate, which is growing remedies for schizophrenia, is providing 19 million shares of its frequent inventory at a public providing worth of $15 every. It marks an upsized providing, given LB Prescription drugs had initially outlined 16.7 million earlier this week.
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The $285m may enhance by $42.7m if underwriters take a further 2.85 million shares on the identical worth.
LB Prescription drugs started buying and selling on the Nasdaq International Market below the ticker LBRX on 11 September, with the providing anticipated to shut on 12 September.
The funds gained from the IPO can be put in the direction of LB’s lead candidate LB-102, an oral schizophrenia therapy. LB-102 is a spinoff of amisulpride, an antipsychotic medication already marketed by Sanofi below the model Solian in additional than 50 international locations. Talking in a prospectus forward of its IPO, the biotech claims its drug takes on a “differentiated therapeutic profile”.
In January 2025, LB unveiled top-line knowledge from a section II research that met its main endpoint of a statistically vital change from baseline within the Optimistic and Detrimental Syndrome Scale (PANSS) complete rating at 4 weeks.
LB beforehand mentioned it expects to spend $133m of the IPO funds on a section III research of LB-102 in schizophrenia, whereas one other $25m can be used to assist a section II trial in bipolar dysfunction. The corporate didn’t disclose an up to date funding allocation primarily based on the upsized providing.
LB’s itemizing marks a revival within the 2025 biotech IPO panorama, with no firms making the general public soar with a sizeable elevate since February, which is when Aardvark Therapeutics accomplished a $94m providing.
The yr began with optimism on the again of a 2024 that confirmed indicators of restoration, with a heap of firms conducting IPOs in January. The decide of the bunch was weight problems biotech Metsera, with a $275m itemizing on the Nasdaq. Renal and metabolic drug-focused firm Maze Therapeutics, in the meantime, raised $140m on the identical day.
As all the time, nonetheless, market volatility because of macroeconomic coverage shifts within the US has created an unpredictable IPO panorama. Autoimmune and inflammatory illness specialist Odyssey Therapeutics bailed on a deliberate IPO in June 2025, citing poor market circumstances.
US cell and gene remedy biotech Medera’s CEO Ronald Li instructed Pharmaceutical Know-how earlier this month that the corporate remains to be ready for the appropriate market window. Medera had initially touted the concept of an IPO in September 2024 through a $623m cope with particular function acquisition firm (SPAC) Eager Imaginative and prescient.
In April, GlobalData enterprise fundamentals analyst Alison Labya mentioned: “The Trump administration has launched uncertainty to the biopharmaceutical trade throughout healthcare insurance policies, drug pricing reforms, and regulatory frameworks, all of which may affect investor confidence.”
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