LB Pharmaceuticals Reports Third Quarter 2026 Financial Results and Provides Corporate Update
Globe Newswire•05/11/2026•16:05 ET
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Key Highlights
- ➤$59.1 million Q3 net loss, versus $3.6 million loss in Q3 2025
- ➤$150 million private placement completed; net proceeds were approximately $140.9 million
- ➤$403.8 million cash position expected to fund operations beyond Q2 2029
- ➤NOVA-2 Phase 3 schizophrenia topline data expected in first half of 2027
- ➤Phase 2 ILLUMINATE-1 bipolar depression topline data expected in first quarter of 2028
Expert Statements
Heather Turner, Chief Executive Officer of LB Pharmaceuticals
“We recently strengthened our leadership team with the appointments of Dr. Susan Kozauer as Chief Medical Officer and Joe Miller as Chief Financial Officer, adding two highly accomplished executives whose expertise is directly aligned with our next phase of growth as we advance LB-102 across multiple neuropsychiatric indications and prepare for potential commercialization in schizophrenia.”
Heather Turner, Chief Executive Officer of LB Pharmaceuticals
“Our recent R&D Day highlighted why we believe LB-102 has the potential to become the branded antipsychotic of choice, based on a differentiated profile with the potential to balance efficacy, tolerability, and simplicity of use.”
Heather Turner, Chief Executive Officer of LB Pharmaceuticals
“We remain on track to report topline results from our Phase 3 NOVA-2 trial of LB-102 in schizophrenia in the first half of 2027.”
Heather Turner, Chief Executive Officer of LB Pharmaceuticals
“With a strong balance sheet and cash runway expected to extend beyond the second quarter of 2029, we believe we are exceptionally well positioned to maximize the broader potential of LB-102.”
Strengthened leadership with the appointment of Susan G. Kozauer, M.D., as Chief Medical Officer and Joseph Miller as Chief Financial Officer
On track for topline data readout from the pivotal Phase 3 NOVA-2 trial of LB-102 in schizophrenia in 1H 2027
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