LB Pharmaceuticals moves up NOVA-2 schizophrenia readout to first half of 2027

LB Pharmaceuticals said on August 11, 2026 that enrollment in its pivotal NOVA-2 trial in schizophrenia has moved faster than expected, moving the projected topline data readout to the first half of 2027, earlier than the company's prior guidance, with a pre-NDA meeting with the FDA planned in the second half of 2027.¹ The company separately confirmed in its highlights section that based on current enrollment projections, topline data from the Phase 3 NOVA-2 trial in acute schizophrenia is expected in the first half of 2027, with a pre-NDA meeting with the FDA to follow in the second half of 2027.¹

Alongside NOVA-2, the 52-week open-label NOVA-3 safety trial is enrolling patients who completed NOVA-2 as well as new patients being enrolled directly into the study.¹ In mood disorders, the Phase 2 "ILLUMINATE-1" trial testing LB-102 in bipolar 1 depression is enrolling patients, with topline data anticipated in the first quarter of 2028.¹ A separate Phase 2 study in adjunctive treatment of major depressive disorder is expected to start in early 2027, with topline data anticipated in the first half of 2029.¹

On the corporate side, the company said it announced a $150.0 million private placement in July 2026 with participation from new and existing institutional investors.¹ Proceeds are earmarked to support expansion of LB-102 into additional indications, which may include negative symptoms of schizophrenia and Alzheimer's disease psychosis or agitation, along with general corporate purposes.¹

As of June 30, 2026, the company reported cash, cash equivalents and marketable securities of approximately $327.8 million, a figure that excludes proceeds from the July 2026 private placement.¹ Based on its current assumptions, LB Pharmaceuticals expects this cash position to fund planned operations beyond the second quarter of 2029.¹