LB Pharmaceuticals Q3 loss widens on higher expenses
LBRX•LB Pharmaceuticals reported a third-quarter net loss of $59.07 million, or $1.79 per basic share, as research and administrative expenses rose. It completed a $150 million private placement and said its $403.8 million in quarter-end cash is expected to fund operations beyond the second quarter of 2029.
1. Higher quarterly expenses
LB Pharmaceuticals’ third-quarter net loss widened to $59.07 million, with a loss of $1.79 per basic share. Research and development spending increased as the company advanced Phase 3 schizophrenia and Phase 2 bipolar depression trials; administrative expenses rose with higher headcount, consulting and public company costs.
2. Cash and funding
The company completed a $150 million private placement. It had $403.8 million in cash at quarter-end and expects that cash to support operations beyond the second quarter of 2029.
