Streetbeat News

LBPH

Longboard Pharmaceuticals, Inc.

https://www.longboardpharma.com

Industry

Biotechnology

Longboard Pharmaceuticals, Inc., a clinical-stage biopharmaceutical company, focuses on developing transformative medicines for neurological diseases. The company's lead product candidate is LP352, which is in a Phase 1b/2a clinical trial for the treatment of seizures associated with developmental and epileptic encephalopathies. Its preclinical product candidates include LP659 and LP143, which focuses on developing therapies for multiple neurological diseases. The company was formerly known as Arena Neuroscience, Inc. and changed its name to Longboard Pharmaceuticals, Inc. in October 2020. Longboard Pharmaceuticals, Inc. was incorporated in 2020 and is based in La Jolla, California.

Open

59.76

Mkt cap

2.3B

Volume

655K

High

59.86

P/E Ratio

-27.69

52-wk high

59.95

Low

59.72

Div yield

N/A

52-wk low

3.60

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.

Portfolio Pulse from Vandana Singh

October 14, 2024 | 1:34 pm

In Monday's pre-market session, several health care stocks experienced significant price movements. Notable gainers included Tevogen Bio Holdings, Inventiva, and Longboard Pharmaceuticals, while Molecular Templates and NewGenIvf Group were among the biggest losers.

Portfolio Pulse from Benzinga Insights

October 14, 2024 | 12:09 pm

Longboard Pharmaceuticals shares are trading higher following the announcement of its acquisition by Lundbeck.

Portfolio Pulse from Benzinga Newsdesk

October 14, 2024 | 11:40 am

Longboard Pharmaceuticals shares surged 46.8% in pre-market trading after Lundbeck agreed to acquire the company for approximately $2.6 billion. Other notable pre-market movers include Inventiva, Tevogen Bio, and Expion360, which saw significant gains, while Molecular Templates and Vicinity Motor experienced sharp declines.

Portfolio Pulse from Avi Kapoor

October 14, 2024 | 11:04 am

Lundbeck has agreed to acquire Longboard Pharmaceuticals for approximately $2.6 billion in equity value. The deal offers Longboard shareholders $60 per share, a 77% premium over the 30-day VWAP as of September 30, 2024. The transaction is expected to close in Q4 2024, pending regulatory approvals.

Portfolio Pulse from Benzinga Newsdesk

October 14, 2024 | 10:32 am

H. Lundbeck has agreed to acquire Longboard Pharmaceuticals for $60 per share in cash, valuing the transaction at approximately $2.6 billion in equity value and $2.5 billion on a fully diluted basis.

Portfolio Pulse from Benzinga Newsdesk

October 14, 2024 | 10:31 am

Longboard Pharmaceuticals shares experienced increased trading volume as traders circulated mentions of the company on an M&A blog, suggesting potential merger or acquisition activity.

Portfolio Pulse from Benzinga Newsdesk

October 01, 2024 | 7:26 pm

Longboard Pharmaceuticals has initiated a Phase 3 study for its drug Bexicaserin, targeting seizures in Dravet syndrome. The study has begun with initial sites activated and more to follow soon.

Portfolio Pulse from Benzinga Newsdesk

September 26, 2024 | 12:37 pm

Longboard Pharmaceuticals' shares rose following the FDA's rare pediatric disease and orphan drug designations for its drug bexicaserin (LP352) targeting Dravet syndrome.

Portfolio Pulse from Benzinga Newsdesk

September 19, 2024 | 7:43 pm

Longboard Pharmaceuticals has received Rare Pediatric Disease and Orphan Drug Designations from the FDA for its drug Bexicaserin (LP352) aimed at treating Dravet Syndrome. These designations can provide benefits such as market exclusivity and financial incentives.

Portfolio Pulse from Benzinga Newsdesk

September 19, 2024 | 12:33 pm

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