LB Pharmaceuticals Announces Up To $100M Private Offering of 4.72M Shares at $21.17 Each to Fund Clinical Trials

LB Pharmaceuticals Inc ("LB Pharmaceuticals" or the "Company") (NASDAQ:LBRX), a late-stage biopharmaceutical company developing novel therapies for schizophrenia, bipolar depression, and other neuropsychiatric diseases, today announced that it has entered into a securities purchase agreement to sell 3,306,571 shares of its common stock and pre-funded warrants to purchase up to 1,417,107 shares of its common stock to a select group of institutional investors in a private placement. The purchase price of each share of common stock is $21.17. The purchase price of each pre-funded warrant is $21.1699, which represents the per share purchase price for the common stock less the $0.0001 per share exercise price for such pre-funded warrant. LB Pharmaceuticals anticipates the gross proceeds from the private placement to be approximately $100.0 million, before deducting any transaction-related expenses. The private placement is expected to close on or about February 6, 2026, subject to the satisfaction of customary closing conditions.

The financing includes participation from new and existing institutional investors, including Balyasny Asset Management L.P., Caligan Partners, Commodore Capital, Deep Track Capital, Nantahala Capital, Pivotal bioVenture Partners, Spruce Street Capital, TCGX, Trails Edge Capital Partners, and other investors.

Leerink Partners, Piper Sandler and Stifel acted as placement agents for the private placement.

LB Pharmaceuticals intends to use the net proceeds from the private placement to fund a Phase 2 trial for LB-102 as an adjunctive treatment for major depressive disorder, and for working capital and general corporate purposes.