Longboard Pharmaceuticals, Inc. - LBPH STOCK NEWS

Longboard Pharmaceuticals (Nasdaq: LBPH) reported Q3 2024 financial results and corporate updates. Key highlights include the initiation of Phase 3 DEEp SEA Study for bexicaserin in Dravet syndrome, and a positive EMA PDCO opinion for pediatric investigation. The company reported cash and investments of $288.4 million as of September 30, 2024. R&D expenses increased 105% to $21.5 million, while G&A expenses rose 116% to $6.7 million compared to Q3 2023. In October, H. Lundbeck A/S agreed to acquire Longboard in a strategic deal.

Lundbeck will acquire Longboard Pharmaceuticals in a strategic deal to enhance its neuroscience pipeline. The acquisition, valued at approximately USD 2.6 billion equity value and USD 2.5 billion net of cash, will add the innovative product bexicaserin, in late-stage development for Developmental and Epileptic Encephalopathies (DEEs). Bexicaserin, targeting 5-HT2C receptors, has shown promising anti-seizure effects in preclinical and clinical studies. A global phase III trial, DEEp SEA, began in September 2024. Lundbeck will fund the acquisition through existing cash resources and bank financing. The deal, approved by both companies' boards, is expected to close in Q4 2024, subject to regulatory approvals. The acquisition aligns with Lundbeck's Focused Innovator strategy and aims to address unmet needs in neuro-rare conditions, potentially driving growth into the next decade.

Longboard Pharmaceuticals, a clinical-stage biopharmaceutical company focusing on neurological diseases, has announced inducement grants for three new employees. The Compensation Committee approved non-qualified stock options to purchase 56,000 shares of common stock and 35,000 restricted stock units (RSUs) on September 30, 2024.

The stock options have an exercise price of $33.33 per share, equal to the closing price on the grant date. They will vest 25% after one year, with the remaining 75% vesting monthly over 36 months. The RSUs will vest 25% annually over four years. Both grants are subject to continued employment and were made in accordance with Nasdaq Listing Rule 5635(c)(4).

Longboard Pharmaceuticals (Nasdaq: LBPH) has initiated its global Phase 3 DEEp SEA Study evaluating bexicaserin for treating seizures associated with Dravet syndrome in patients two years and older. The company has activated the first sites, with additional rapid-start sites expected to be activated in the coming weeks. This study is part of the broader DEEp Program, which includes two trials.

Chad Orevillo, Longboard's Executive VP and Head of Operations, highlighted the company's rapid progression from Phase 2 data to Phase 3 initiation. Mary Anne Meskis, Executive Director of Dravet Syndrome Foundation, praised Longboard's progress, noting recent Rare Pediatric Disease and Orphan Drug designations for their Dravet syndrome treatment. She emphasized the continued unmet need in Dravet syndrome and other rare epileptic conditions.

Longboard Pharmaceuticals (Nasdaq: LBPH) has received Rare Pediatric Disease designation and Orphan Drug designation from the FDA for bexicaserin (LP352) in Dravet syndrome. This follows the company's earlier Breakthrough Therapy designation for treating seizures associated with Developmental and Epileptic Encephalopathies (DEEs). The Rare Pediatric Disease designation offers an opportunity for a Priority Review Voucher, which can be used for priority review of another Longboard compound or monetized. Longboard plans to initiate its global Phase 3 DEEp program, starting with DEEp SEA in Dravet syndrome, in the coming weeks.

Longboard Pharmaceuticals (LBPH) announced positive interim results from the open-label extension (OLE) of its PACIFIC Study evaluating bexicaserin in Developmental and Epileptic Encephalopathies (DEEs). Key findings include:

1. 57.7% median reduction in countable motor seizures over ~9 months
2. Sustained efficacy for both bexicaserin-treated (58.2% reduction) and placebo-to-bexicaserin groups (57.3% reduction)
3. Favorable safety and tolerability profile
4. 92.7% participant retention in the ongoing study

The company plans to initiate a global Phase 3 program later this year, with full 12-month OLE data expected in early 2024. Bexicaserin has received Breakthrough Therapy designation, highlighting its potential as a transformative treatment for DEEs.

Longboard Pharmaceuticals (Nasdaq: LBPH), a clinical-stage biopharmaceutical company focused on neurological diseases, has announced inducement grants for eleven new employees. The Compensation Committee approved non-qualified stock options to purchase 203,500 shares of common stock, granted on August 31, 2024, with an exercise price of $36.08 per share. These options will vest 25% after one year and the remaining 75% in 36 monthly installments, subject to continued employment. The grants, made in accordance with Nasdaq Listing Rule 5635(c)(4), are designed to attract and retain talent in the competitive biotech industry.

Longboard Pharmaceuticals (Nasdaq: LBPH), a clinical-stage biopharmaceutical company developing novel medicines for neurological diseases, has announced its participation in four major investor conferences in September 2024. The company will engage in various activities including:

• Hosting investor meetings at the Wells Fargo Healthcare Conference on September 5 in Boston
• Presenting a fireside chat and hosting meetings at the H.C. Wainwright Global Investment Conference on September 10 in New York
• Participating in a fireside chat and investor meetings at Baird's Global Healthcare Conference on September 11 in New York
• Delivering a fireside chat presentation and hosting meetings at the Cantor Global Healthcare Conference on September 17 in New York

Live webcasts of available presentations will be accessible on Longboard's website and archived for at least 30 days post-event.

Longboard Pharmaceuticals (Nasdaq: LBPH) will present data at the 15th Annual European Epilepsy Congress in Rome, Italy, from September 7-11, 2024. The company will showcase late-breaking and encore data on bexicaserin, their novel treatment for Developmental and Epileptic Encephalopathies (DEEs).

Key presentations include:

• Interim results from the PACIFIC study open-label extension on bexicaserin's safety and tolerability
• Efficacy and safety results from the Phase 1b/2a PACIFIC study
• Data on bexicaserin's minimal drug interaction potential
• Phase 1 study results showing robust brain penetration and receptor engagement
• Preclinical data demonstrating broad antiepileptic activity

This conference participation aligns with Longboard's preparations for initiating their global Phase 3 program later this year.