Why Is Epilepsy Focused Longboard Pharmaceuticals Stock Trading Higher On Monday?
Portfolio Pulse from Vandana Singh
H. Lundbeck A/S has agreed to acquire Longboard Pharmaceuticals, Inc for $60.00 per share, valuing the transaction at approximately $2.6 billion. The acquisition is expected to close in Q4 2024. Longboard's lead asset, bexicaserin, is under development for neurological diseases and has received FDA designations. The acquisition will diversify Lundbeck's revenue growth, with expected global peak sales of $1.5 billion to $2 billion.
October 14, 2024 | 1:34 pm
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Longboard Pharmaceuticals' stock surged 51.3% after H. Lundbeck A/S announced its acquisition for $60 per share. The deal values Longboard at $2.6 billion, highlighting the potential of its lead asset, bexicaserin.
The acquisition announcement at a premium price per share has led to a significant increase in LBPH's stock price. The strategic value of Longboard's lead asset, bexicaserin, further supports the positive market reaction.
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