LB Pharmaceuticals Q3 loss widens on higher expenses

Overview

• Neuromedicines firm's Q3 net loss widened sharply as R&D and admin costs increased

• Company completed $150 mln private placement to fund expansion of lead drug candidate

• Quarter-end cash of $403.8 mln expected to fund operations past Q2 2029

Outlook

• Company expects cash runway to support operations beyond Q2 2029

Result Drivers

• TRIAL ADVANCEMENT - Higher R&D spending driven by progress in Phase 3 schizophrenia and Phase 2 bipolar depression trials

• ADMINISTRATIVE COSTS - Increased headcount, consulting, and public company costs drove higher administrative expenses

Company press release:

Key Details

Analyst Coverage

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 11 "strong buy" or "buy", 1 "hold" and no "sell" or "strong sell"

• The average consensus recommendation for the biotechnology & medical research peer group is "buy"

• Wall Street's median 12-month price target for LB Pharmaceuticals Inc is $57.50, about 40.8% above its November 4 closing price of $40.85

Reuters Recommended Reads

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)