LB Pharmaceuticals Raises Capital to Expand LB-102
The private placement is expected to generate approximately $150 million in gross proceeds.
LB Pharmaceuticals (LBRX), a pharmaceutical company, announced a private placement to support the expansion of its LB-102 drug candidate into additional indications.
The financing marked a step toward broadening the potential use of LB-102, with part of the proceeds designated for that effort.
LB Pharmaceuticals agreed to sell 3,577,560 common shares through the placement.
The transaction also included pre-funded warrants covering up to 715,513 shares.
Together, the common shares and warrants formed the capital raise.
The proceeds will be used in part to pursue additional indications for LB-102.