UPDATE: Neuroscience Biotech LB Pulls Off Upsized $285M IPO

This story was up to date on September 11.

LB Pharma has lastly finished it. The biotech IPO stalemate has been damaged, with the neuroscience-focused firm touchdown on the Nasdaq Thursday morning in an upsized, $285 million providing.

LB had initially filed on Monday for an IPO price about $228.5 million, or $263.4 million if the underwriters absolutely exercised their choices. The ultimate tally landed at $285 million based mostly on 19 million shares bought on the midpoint of $15 apiece. LB had initially deliberate to promote 16 million shares.

The corporate’s shares will start buying and selling Thursday below the ticker LBRX.

The debut marks the tip of a seven-month interval throughout which not a single biotech had gone public in an IPO.

Unique article printed September 9, 2025.

Neuroscience Biotech LB Information for $228M IPO To Help Part III Plans

LB Pharma is looking for $228.5 million in its preliminary public providing, the primary try from a biotech at climbing on to the general public markets in lots of months.

Proceeds from the providing might rise to $263.4 million if the underwriters absolutely train their choices, based on LB’s prospectus, which was filed Monday. The corporate is looking for a midpoint of $15 per share for the IPO, with greater than 16 million shares anticipated to be bought within the providing. LB had $14 million in money readily available as of the tip of June.

If LB is profitable, the debut would mark the primary IPO in months for the sector, because the biotech trade endures a nuclear winter. Few biotechs have made their debut this yr and lots of have watched their share costs plummet. Metsera is arguably probably the most profitable of the yr. The load loss biotech raised $312 million in January and its shares have risen 37% yr up to now because of knowledge for its Part I ultra-long-acting amylin injectable for weight problems.

LB has a packed scientific schedule for lead asset LB-102, which the IPO proceeds will assist. The novel benzamide antipsychotic is at the moment in Part II testing for schizophrenia. LB expects to make use of $133 million to provoke a Part III trial within the first quarter of 2026 for the indication, with topline knowledge anticipated within the second half of 2027. This trial is predicted to assist a regulatory submitting for the drug.

LB-102 can be in a Part I trial for bipolar despair. About $25 million of the IPO proceeds will assist the development of the drug into Part II within the first quarter of 2026, with topline knowledge anticipated within the first quarter of 2028.

LB is headed by Heather Turner, the previous CEO of Carmot Therapeutics, the metabolic illness biotech that was acquired by Roche for $3.1 billion in December 2023. Throughout her time at Carmot, Turner oversaw a twin monitor course of at an IPO and a buyout, which in the end resulted within the Roche deal. After the transaction, she jumped to LB in November 2024.