The biotech firm will sell 3.58M shares and pre-funded warrants for 715,513 shares in a private placement.
LB Pharmaceuticals (LBRX) has agreed to a $150M private placement, selling 3.58M shares of common stock and pre-funded warrants for up to 715,513 additional shares. The transaction aims to bolster the company’s capital position without specifying use of proceeds.
The placement follows no recent public offering, with the company last raising funds in early 2023. Terms, including pricing and investor details, remain undisclosed. The deal reflects ongoing demand for biotech equity amid a cautious funding environment.
No immediate market reaction was reported following the announcement.