--- title: LB Pharmaceuticals Prepares to Go Public With $250M+ IPO description: IPO pricing expected Sept 10 with first trade Sept 11. --- [Skip to content](https://blog.ipoprophet.com/aslgkuh89gyaep98byanp9t8yaqtp98hyq358yna8pq48y/lb-pharmaceuticals-prepares-to-go-public-with-250m-ipo#main-content) [![IPO_PROPHET_BLUE logo](https://blog.ipoprophet.com/hs-fs/hubfs/IPO_PROPHET_BLUE%20logo.png?width=2973&height=302&name=IPO_PROPHET_BLUE%20logo.png)](https://www.IPOProphet.com) - [Login](https://app.ipoprophet.com/login) Open main navigation Close main navigation - [Login](https://app.ipoprophet.com/login) [Subscribe to our Newsletter](https://share.hsforms.com/1xXldKrGiQBCbNmtOz6j4Jwq3cu4) [Go Back to Home](http://www.ipoprophet.com/) [Go Back to Blog](http://www.ipoprophet.com/blog) Sep 9, 2025 5:10:09 PM # LB Pharmaceuticals Prepares to Go Public With $250M+ IPO ![Picture of Eric Friedman](https://app.hubspot.com/settings/avatar/7a4cca62b5a89282b41a283a43efa80e) [Eric Friedman](https://blog.ipoprophet.com/aslgkuh89gyaep98byanp9t8yaqtp98hyq358yna8pq48y/author/eric-friedman) Share: [facebook-f icon](http://www.facebook.com/share.php?u=https://blog.ipoprophet.com/aslgkuh89gyaep98byanp9t8yaqtp98hyq358yna8pq48y/lb-pharmaceuticals-prepares-to-go-public-with-250m-ipo) [linkedin-in icon](http://www.linkedin.com/shareArticle?mini=true&url=https://blog.ipoprophet.com/aslgkuh89gyaep98byanp9t8yaqtp98hyq358yna8pq48y/lb-pharmaceuticals-prepares-to-go-public-with-250m-ipo) [Twitter icon](https://twitter.com/intent/tweet?url=https://blog.ipoprophet.com/aslgkuh89gyaep98byanp9t8yaqtp98hyq358yna8pq48y/lb-pharmaceuticals-prepares-to-go-public-with-250m-ipo) [pinterest-p icon](http://pinterest.com/pin/create/link/?url=https://blog.ipoprophet.com/aslgkuh89gyaep98byanp9t8yaqtp98hyq358yna8pq48y/lb-pharmaceuticals-prepares-to-go-public-with-250m-ipo) [envelope icon](mailto:?body=https://blog.ipoprophet.com/aslgkuh89gyaep98byanp9t8yaqtp98hyq358yna8pq48y/lb-pharmaceuticals-prepares-to-go-public-with-250m-ipo) ![](https://blog.ipoprophet.com/hs-fs/hubfs/image-png-Sep-09-2025-09-07-31-6357-PM.png?width=335&height=160&name=image-png-Sep-09-2025-09-07-31-6357-PM.png)   LB Pharmaceuticals Inc. is stepping into the public markets with a Nasdaq debut under the ticker **LBRX**. The New York–based biotech is offering **16.7 million shares** at a range of **$14 to $16**, with an additional **2.5 million shares** reserved for underwriters’ overallotment. At the midpoint, the company would command a market value of about **$302 million**, supported by a hefty pro forma cash balance of more than **$240 million** on its books The IPO is being led by a seasoned syndicate of **Leerink Partners**, **Piper Sandler**, and **Stifel**, with plans to list on the Nasdaq Global Market. Proceeds will be funneled primarily into advancing LB-102, the company’s Phase 3–ready antipsychotic candidate aimed at treating acute schizophrenia. Management is also targeting bipolar depression and related neuropsychiatric disorders, with additional funds earmarked for manufacturing scale-up, regulatory preparations, and general corporate purposes Unlike many emerging biotech firms, LB’s pitch to investors hinges not on near-term revenue but on clinical execution. The company has never generated product revenue and instead has focused its resources on R&D and building its intellectual property portfolio. In 2024 alone, LB spent more than $51 million on research and development, underscoring its all-in commitment to LB-102. Losses have been mounting—over $63 million last year—but the IPO is designed to give the company the capital runway it needs to bring its late-stage programs forward Key risks remain. As with any clinical-stage biotech, the company’s future rests on the outcome of pivotal trials and FDA approval. Its reliance on third-party CROs and manufacturers adds operational risk, and long-term shareholder value will be determined by regulatory milestones and capital discipline. Still, management believes LB-102 could be the first benzamide antipsychotic approved in the U.S., which would mark a significant achievement in neuropsychiatric treatment. For investors looking at this IPO, the bet is clear: a large cash war chest, an ambitious late-stage program, and high clinical risk balanced by the potential of a first-in-class U.S. approval. **LB Pharmaceuticals is expected to price on September 10 and begin trading on Nasdaq on September 11, 2025.** [IPOs](https://blog.ipoprophet.com/aslgkuh89gyaep98byanp9t8yaqtp98hyq358yna8pq48y/tag/ipos), [Nasdaq](https://blog.ipoprophet.com/aslgkuh89gyaep98byanp9t8yaqtp98hyq358yna8pq48y/tag/nasdaq), [LB Pharmaceuticals](https://blog.ipoprophet.com/aslgkuh89gyaep98byanp9t8yaqtp98hyq358yna8pq48y/tag/lb-pharmaceuticals) ## Related posts [IPOs](https://blog.ipoprophet.com/aslgkuh89gyaep98byanp9t8yaqtp98hyq358yna8pq48y/tag/ipos), [Via Technologies](https://blog.ipoprophet.com/aslgkuh89gyaep98byanp9t8yaqtp98hyq358yna8pq48y/tag/via-technologies) ## [Transit-Tech Pioneer Via Targets $3.3B Valuation in NYSE IPO](https://blog.ipoprophet.com/aslgkuh89gyaep98byanp9t8yaqtp98hyq358yna8pq48y/transit-tech-pioneer-via-targets-3.3b-valuation-in-nyse-ipo) ![Picture of Eric Friedman](https://app.hubspot.com/settings/avatar/7a4cca62b5a89282b41a283a43efa80e) [Eric Friedman](https://blog.ipoprophet.com/aslgkuh89gyaep98byanp9t8yaqtp98hyq358yna8pq48y/author/eric-friedman) Sep 4, 2025 3:20:49 PM Via Transportation, Inc. is preparing to list on the New York Stock Exchange under the ticker $VIA,... 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