With antipsychotic nearing Phase III, LB Pharma to test IPO market: Finance Report

A rare filing for a NASDAQ IPO appeared late Friday, as LB Pharmaceuticals Inc. filed a prospectus outlining its aim to list on the exchange. The move comes as the biotech prepares to begin Phase III testing in 1Q26 of its lead molecule, an antipsychotic.

The therapy, LB-102, is a methylated formulation of amisulpride, an antagonist of DRD2, DRD3 and serotonin 5-HT7. Phase II results showed efficacy signals, including effects on both positive and negative symptoms, as well as a tolerability profile the company described as “potentially class-leading” in its prospectus. LB is also aiming to start a Phase II study of LB-102 in 1Q26 to treat bipolar depression, and hopes to develop it for major depressive disorder...