Longboard Pharmaceuticals (LBPH) IPO Opens Flat

Today's IPO for Longboard Pharmaceuticals, Inc. (NASDAQ: LBPH) opened for trading at $16 after pricing 5,000,000 shares of its common stock at a price to the public of $16.00 per share.

Longboard was formed in January 2020 by Arena Pharmaceuticals, Inc. (NASDAQ: ARNA) to advance a portfolio of centrally acting product candidates designed to be highly selective for specific G protein-coupled receptors (GPCRs).

Citigroup, Evercore ISI, Guggenheim Securities and Cantor are acting as joint book-running managers for the offering

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