Longboard Pharmaceuticals Announces Commencement of Public Offering of Common Stock
02 Januar 2024 - 10:01PM
Business Wire
Longboard Pharmaceuticals, Inc. (Nasdaq: LBPH), a clinical-stage
biopharmaceutical company focused on developing novel,
transformative medicines for neurological diseases, today announced
that it has commenced an underwritten public offering, subject to
market and other conditions, to issue and sell $150 million of
shares of its voting common stock. In connection with the proposed
offering, Longboard expects to grant the underwriters a 30-day
option to purchase up to an additional approximately $22.5 million
of shares of voting common stock. There can be no assurance as to
whether or when the proposed offering may be completed or as to the
actual size or terms of the proposed offering.
Cantor and Citigroup are acting as joint lead book-running
managers for the proposed offering, and Wedbush PacGrow and H.C.
Wainwright & Co. are acting as lead managers for the proposed
offering.
The proposed offering is being made pursuant to two shelf
registration statements on Form S-3, including base prospectuses,
which were previously filed with the Securities and Exchange
Commission (the “SEC”) and declared effective on October 11, 2022
and August 11, 2023, respectively. A preliminary prospectus
supplement and accompanying prospectuses relating to the proposed
offering will be filed with the SEC and will be available for free
on the SEC’s website located at http://www.sec.gov. Copies of the
preliminary prospectus supplement and the accompanying prospectuses
relating to the proposed offering, when available, may be obtained
from: Cantor Fitzgerald & Co., Attention: Capital Markets, 110
East 59th Street, New York, NY 10022, or by e-mail at
prospectus@cantor.com; or Citigroup Global Markets Inc., c/o
Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood,
NY 11717 or by telephone at (800) 831-9146.
This press release shall not constitute an offer to sell or a
solicitation of an offer to buy, nor shall there be any sale of,
these securities in any state or jurisdiction in which such offer,
solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of any such state or
jurisdiction.
About Longboard Pharmaceuticals
Longboard Pharmaceuticals, Inc. is a clinical-stage
biopharmaceutical company focused on developing novel,
transformative medicines for neurological diseases. Longboard is
working to advance a portfolio of centrally acting product
candidates designed to be highly selective for specific G
protein-coupled receptors (GPCRs). Longboard’s small molecule
product candidates are based on more than 20 years of GPCR
research. Longboard plans to advance bexicaserin (LP352), an oral,
centrally acting 5-hydroxytryptamine 2C (5-HT2C) receptor
superagonist, with no observed impact on 5-HT2B and 5-HT2A receptor
subtypes, into a global Phase 3 program. Longboard reported topline
data from a Phase 1b/2a clinical trial for bexicaserin, the PACIFIC
Study, evaluating participants ages 12 to 65 years old with a broad
range of Developmental and Epileptic Encephalopathies (DEEs),
including Lennox-Gastaut syndrome, Dravet syndrome and other DEEs.
Longboard is also evaluating LP659, an oral, centrally acting,
sphingosine-1-phosphate (S1P) receptor subtypes 1 and 5 modulator,
which is in development for the potential treatment of rare
neuroinflammatory conditions. Longboard has initiated a Phase 1
single-ascending dose (SAD) clinical trial for LP659 in healthy
volunteers, with topline data expected in the first half of
2024.
Forward-Looking Statements
Statements contained in this press release regarding matters
that are not historical facts are “forward-looking statements”
within the meaning of the Private Securities Litigation Reform Act
of 1995. Such forward-looking statements include statements
regarding, among other things, Longboard’s expectations regarding
the completion, timing and size of the proposed offering,
Longboard’s expectations with respect to granting the underwriters
a 30-day option to purchase additional shares and expected timing
for topline data. Because such statements are subject to risks and
uncertainties, actual results may differ materially from those
expressed or implied by such forward-looking statements. Words such
as “expects,” “may,” “will,” “potential,” “focused on,” “working
to,” “designed to,” “plans to” and similar expressions are intended
to identify forward-looking statements. These forward-looking
statements are based upon Longboard’s current expectations and
involve assumptions that may never materialize or may prove to be
incorrect. Actual results could differ materially from those
anticipated in such forward-looking statements as a result of
various risks and uncertainties, which include, without limitation,
risks and uncertainties associated with Longboard’s ongoing and
planned clinical trials and its business in general, macroeconomic
events stemming from evolving geopolitical developments such as the
conflicts in Ukraine and the Middle East and the other risks
described in Longboard’s filings with the SEC, including under the
heading “Risk Factors” contained therein, as well as the risks
identified in the registration statements and the preliminary
prospectus supplement relating to the proposed public offering. All
forward-looking statements contained in this press release speak
only as of the date on which they were made and are based on
management’s assumptions and estimates as of such date. Longboard
undertakes no obligation to update such statements to reflect
events that occur or circumstances that exist after the date on
which they were made, except as required by law.
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version on businesswire.com: https://www.businesswire.com/news/home/20240102974170/en/
Corporate Contact: Megan E. Knight Head of Investor
Relations IR@longboardpharma.com 858.789.9283
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