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IPO Update: Longboard Pharmaceuticals Proposes IPO Terms

Summary

  • Longboard Pharmaceuticals has filed to raise $75 million in an IPO of its common stock.
  • The firm is advancing treatments for refractory epilepsies and other serious neurological conditions.
  • With existing treatments producing serious side effects, LBPH's lead candidate appears promising with early positive safety trial results.
  • Looking for more investing ideas like this one? Get them exclusively at IPO Edge. Learn More »

Quick Take

Longboard Pharmaceuticals (NASDAQ:LBPH) intends to raise $75 million from the sale of its common stock in an IPO, according to an amended registration statement.

The company is advancing treatment candidates for epilepsies and other central nervous system conditions.

LBPH has produced promising safety results in early Phase 1 trials for its lead candidate, has significant financial and collaboration resources and the IPO appears reasonably priced.

For life science investors with an 18- to 24-month hold time frame, the IPO is worth a close look.

Company and Technology

San Diego, California-based Longboard was founded as a group within parent firm Arena Pharmaceuticals to develop a portfolio of treatments selective for specific G protein-coupled receptors implicated in epilepsies and other serious neurological conditions.

Management is headed by president and Chief Executive Officer Kevin Lind, who has been with the firm since 2020 and was previously Chief Financial Officer of parent firm Arena Pharmaceuticals.

Below is a brief overview video of medically refractory epilepsies:

Source: SLUcare

The firm's lead candidate is LP352, an oral superagonist in Phase 1 clinical trial being developed to treat various encephalopathies including Dravet syndrome and Lennox-Gastaut syndrome.

Below is the current status of the company's drug development pipeline:

Source: Company SEC Filing

Investors in the firm have invested at least $56 million and include Zone II Healthcare, Cormorant Asset Management, T. Rowe Price Associates, HBM Healthcare and Arena Pharmaceuticals (ARNA).

Market and Competition

According to a 2019 market research report by Market Research Future, the global market for epilepsy treatment is expected to exceed $9.5 billion by 2023.

This represents a forecast CAGR (Compound Annual Growth Rate) of 8.2% from 2018 to 2023.

A key element driving this expected growth is an increasing prevalence of the disease among children and adults.

Also, a rise in the number

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This article was written by

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