Longboard Pharmaceuticals, Inc. - LBPH STOCK NEWS

Longboard Pharmaceuticals (Nasdaq: LBPH), a clinical-stage biopharmaceutical company, has announced inducement grants for two new employees. The Compensation Committee approved non-qualified stock options to purchase a total of 29,000 shares of common stock. These options, granted on July 31, 2024, have an exercise price of $33.24 per share, matching the closing price on the grant date.

The stock options will vest over four years, with 25% vesting on the one-year anniversary of each employee's start date and the remaining 75% vesting in 36 equal monthly installments thereafter. These grants are subject to continued employment and were made in accordance with Nasdaq Listing Rule 5635(c)(4) as an inducement for the employees to join Longboard.

Longboard Pharmaceuticals (LBPH) reported Q2 2024 financial results and provided corporate updates. Key highlights include:

1. Bexicaserin (LP352) received Breakthrough Therapy designation for seizures associated with Developmental and Epileptic Encephalopathies (DEEs).

2. Completed End of Phase 2 Meeting for bexicaserin's global Phase 3 program, set to initiate in H2 2024.

3. LP659 showed promising results in a Phase 1 single-ascending dose study.

4. Q2 2024 ended with $304.9 million in cash, cash equivalents and investments, with runway expected into 2027.

5. R&D expenses increased 63% to $20.4 million, while G&A expenses rose 67% to $5.2 million compared to Q2 2023.

Longboard Pharmaceuticals (Nasdaq: LBPH) has announced it will release its second quarter 2024 financial results and provide a corporate update on August 1, 2024. The update will include topline Phase 1 single ascending dose (SAD) data for LP659, their centrally acting, highly selective sphingosine-1-phosphate (S1P) receptor modulator. A conference call and webcast will be held at 4:30pm ET (1:30pm PT) on the same day.

Investors can access the live webcast through the Events & Presentations section of Longboard's investor page. A replay will be available shortly after and archived for at least 30 days. Participants can join via webcast or dial-in using the provided links and conference ID.

Longboard Pharmaceuticals, a clinical-stage biopharmaceutical company focused on neurological diseases, announced the issuance of inducement awards to four new employees under Nasdaq Listing Rule 5635(c)(4). On June 30, 2024, the Compensation Committee approved non-qualified stock options for an aggregate of 110,000 shares at an exercise price of $27.03 per share, equivalent to the closing price of the company's stock on the prior trading day. These options will vest 25% on the one-year anniversary of each employee's start date, with the remaining 75% vesting in 36 equal monthly installments thereafter, contingent on continued employment.

Longboard Pharmaceuticals announced that the FDA has granted Breakthrough Therapy designation for its investigational drug bexicaserin (LP352) for treating seizures associated with Developmental and Epileptic Encephalopathies (DEEs) in patients aged two years and older. This designation aims to expedite the drug's development and regulatory review, highlighting its potential to significantly improve current therapies. The company aims to initiate a global Phase 3 program later this year. Longboard's Chief Medical Officer, Dr. Randall Kaye, emphasized the importance of this milestone in addressing the unmet needs of DEE patients.

Longboard Pharmaceuticals announced positive interim results from the open-label extension (OLE) of the Phase 1b/2a PACIFIC Study evaluating bexicaserin in participants with Developmental and Epileptic Encephalopathies (DEEs).

Bexicaserin achieved a median seizure reduction of 56.1% over an approximate 6-month treatment period, while participants from the placebo group saw a 57.3% reduction after transitioning to bexicaserin in the OLE.

Favorable safety and tolerability results were observed. 100% of PACIFIC Study completers enrolled in the OLE with 95.1% remaining. The most common adverse events were respiratory infections, COVID-19, pneumonia, sinusitis, seizures, and decreased appetite.

An End of Phase 2 meeting is scheduled for this summer, with a Phase 3 program set to begin later this year.

Longboard Pharmaceuticals (Nasdaq: LBPH), a clinical-stage biopharmaceutical company focused on neurological diseases, has announced inducement awards to four new employees. The Compensation Committee approved non-qualified stock options to purchase a total of 92,000 shares of common stock as inducements, in line with Nasdaq Listing Rule 5635(c)(4). The options, granted on May 31, 2024, have an exercise price of $18.87 per share, the closing price on the grant date. The vesting schedule includes 25% vesting on the one-year anniversary of employment and the remaining 75% vesting monthly over the following three years, contingent upon continued employment.

Longboard Pharmaceuticals, Inc. announced the grant of inducement awards to seven new employees, including options to purchase 178,000 shares of Common Stock. The options were granted to attract new talent and retain employees, with a vesting schedule over time.

Longboard Pharmaceuticals, Inc. (Nasdaq: LBPH) reported positive topline data for Bexicaserin in Q1 2024, with plans for a global Phase 3 program by YE 2024. The company also announced $321.0 million in cash reserves, supporting operations into 2027. Longboard's President and CEO, Kevin R. Lind, expressed optimism for the future and shared upcoming milestones, including Phase 1 SAD data for LP659 in Q2 2024.