Longboard Q1 2024: $321M cash; bexicaserin Phase 3 on track for YE 2024

Longboard Pharmaceuticals, Inc.

2024-Q1 EPS reported -$0.42

Cash, cash equivalents and investments of $321.0M as of March 31, 2024; cash runway into 2027.
Net proceeds of $226.5M from Jan 2024 follow-on offering (11.5M shares at $21.00) and $59.9M from private placement (2.85M non-voting shares at $21.00).
R&D expenses $13.2M (+54% YoY), primarily due to bexicaserin and LP659 trial costs.
Positive topline PACIFIC Study data for bexicaserin presented at AAN April 2024; global Phase 3 to start by YE 2024.
LP659 Phase 1 SAD topline data expected Q2 2024; PACIFIC open-label extension data in H2 2024.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

Longboard Pharmaceuticals, Inc. reported financial results for first quarter 2024.

Period: first quarter 2024
Result: reported results

Exact text from the filing

On May 2, 2024, Longboard Pharmaceuticals, Inc. ("Longboard") issued a press release announcing its financial results for the quarter ended March 31, 2024.

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Source: SEC EDGAR

accession 0000950170-24-052111

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