LB Pharmaceuticals raises $100 million in private placement

LB Pharmaceuticals Inc (NASDAQ: LBRX) announced it has entered into a securities purchase agreement for a $100 million private placement with institutional investors. The biopharmaceutical company will sell 3,306,571 shares of common stock and pre-funded warrants to purchase up to 1,417,107 shares.

The purchase price for each common stock share is $21.17, while pre-funded warrants are priced at $21.1699 per warrant. The transaction is expected to close on or about February 6, 2026, subject to customary closing conditions.

Participating investors include Balyasny Asset Management L.P., Caligan Partners, Commodore Capital, Deep Track Capital, Nantahala Capital, Pivotal bioVenture Partners, Spruce Street Capital, TCGX, and Trails Edge Capital Partners. Leerink Partners, Piper Sandler and Stifel served as placement agents.

LB Pharmaceuticals plans to use the net proceeds to fund a Phase 2 trial for LB-102 as an adjunctive treatment for major depressive disorder, along with working capital and general corporate purposes. The company develops therapies for schizophrenia, bipolar depression, and other neuropsychiatric diseases.

The securities have not been registered under the Securities Act of 1933 and may not be offered or sold in the United States absent registration or an applicable exemption. The company has agreed to file a registration statement with the Securities and Exchange Commission for the resale of shares issued in the private placement.

The information is based on a company press release statement.

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