LB Pharmaceuticals reports Q3 2026 results, affirms 1H 2027 data for schizophrenia drug

LB Pharmaceuticals Inc reported financial results for the third quarter ended September 30, 2026, on November 5, 2026. Enrollment in the pivotal Phase 3 NOVA-2 trial of LB-102 in acute schizophrenia continues, and the company still expects topline data in the first half of 2027.¹ A pre-New Drug Application meeting with the FDA is expected to follow in the second half of 2027.¹

A separate 52-week open-label safety trial, NOVA-3, is continuing to enroll patients who completed NOVA-2 as well as new patients.¹ The company also said that based on discussions with the FDA about a trial for predominantly negative symptoms of schizophrenia, it plans to share an update on possible trial design in the first quarter of 2027.¹

In mood disorders, the Phase 2 ILLUMINATE-1 trial of LB-102 in bipolar 1 depression continues to enroll, with topline data expected in the first quarter of 2028.¹ A Phase 2 trial for adjunctive treatment of major depressive disorder is expected to begin in early 2027, with topline results expected in the first half of 2029.¹

On financing, the company completed a $150.0 million private placement in July 2026, which it said is meant to support expansion of LB-102 into additional indications such as negative symptoms of schizophrenia and Alzheimer's disease psychosis or agitation, along with general corporate purposes.¹ Net proceeds from the placement were about $140.9 million after fees.¹

The company also announced leadership additions: Susan G. Kozauer, M.D., joined as Chief Medical Officer in September 2026, bringing more than two decades of neuropsychiatric drug development experience¹, and Joseph Miller joined as Chief Financial Officer, with more than two decades of biopharmaceutical finance experience.¹

As of September 30, 2026, the company held $403.8 million in cash, cash equivalents, and short-term investments, which it said should support planned operations beyond the second quarter of 2029.¹