Financial Performance - The company reported net losses of $24.5 million for the three months ended September 30, 2024, compared to $12.9 million for the same period in 2023, representing a 90% increase in losses [119]. - Total operating expenses for the three months ended September 30, 2024, were $28.1 million, compared to $13.6 million for the same period in 2023, marking a 107% increase [119]. - The company incurred a net loss of $61.3 million for the nine months ended September 30, 2024, compared to a net loss of $39.4 million for the same period in 2023 [138]. - Net cash used in operating activities was $54.9 million for the nine months ended September 30, 2024, compared to $39.8 million for the same period in 2023 [138]. - Net cash used in investing activities was $218.6 million for the nine months ended September 30, 2024, compared to net cash provided of $25.8 million for the same period in 2023 [139]. Research and Development - Research and development expenses increased by 105% to $21.5 million for the three months ended September 30, 2024, up from $10.5 million in the same period of 2023 [120]. - Research and development expenses increased by $23.5 million, or 75%, to $55.1 million for the nine months ended September 30, 2024, compared to $31.6 million for the same period in 2023 [121]. - The FDA has granted Breakthrough Therapy designation for the product candidate bexicaserin for the treatment of seizures associated with developmental and epileptic encephalopathies [104]. - The company initiated a global Phase 3 program for bexicaserin, named the DEEp Program, in Q3 2024 [104]. - The proposed Phase 1 multiple-ascending dose study for LP659 is currently on full clinical hold by the FDA [104]. Financial Position and Funding - The company has raised approximately $288.4 million in cash, cash equivalents, and short-term investments as of September 30, 2024 [105]. - As of September 30, 2024, the company had cash, cash equivalents, and short-term investments of $288.4 million, up from $48.5 million as of December 31, 2023 [124]. - Net cash provided by financing activities was $287.0 million for the nine months ended September 30, 2024, primarily from a follow-on offering that raised $226.5 million [140]. - The company expects to finance its cash needs through public or private equity offerings, debt financings, or other capital sources until it can generate significant revenue from product sales [109]. - The company expects existing cash and short-term investments to fund operations for at least the next 12 months [133]. Internal Controls and Compliance - The company maintains disclosure controls and procedures designed to ensure timely reporting of required information [151]. - As of September 30, 2024, the company's management concluded that disclosure controls and procedures were effective at the reasonable assurance level [152]. - There were no changes in internal control over financial reporting during the quarter ended September 30, 2024, that materially affected internal control [153]. - The company is classified as an "emerging growth company" under the JOBS Act, allowing it to delay the adoption of new accounting standards [147]. - The company is also classified as a "smaller reporting company," enabling it to take advantage of scaled disclosures as long as certain thresholds are met [148]. Legal Matters - There are no material legal proceedings involving the company, although litigation can have adverse impacts due to costs and reputational harm [155]. Market and Future Outlook - The company has an accumulated deficit of $201.9 million as of September 30, 2024 [106]. - Future capital requirements will depend on various factors, including the progress and costs of research programs and regulatory reviews [134]. - As of September 30, 2024, a hypothetical 10.0 percent increase in accrued research and development expenses would have resulted in an increase to the net loss of approximately $1.1 million [146]. - The market value of common stock held by non-affiliates exceeded $700.0 million as of June 30, 2024, leading to the company ceasing to be an emerging growth company effective December 31, 2024 [149]. - The company will no longer qualify as a smaller reporting company beginning with the first Quarterly Report on Form 10-Q for the quarterly period ending March 31, 2025 [149].

Financial Performance - The net loss for Q3 2024 was $24.5 million, compared to a net loss of $12.9 million in Q3 2023[13]. - The company reported a comprehensive loss of $23.4 million for Q3 2024, compared to a comprehensive loss of $12.8 million in Q3 2023[13]. - Longboard's total operating expenses for the nine months ended September 30, 2024, were $71.9 million, compared to $41.2 million for the same period in 2023[13]. Cash and Assets - Longboard Pharmaceuticals reported cash, cash equivalents, and short-term investments of approximately $288.4 million as of September 30, 2024[4]. - Longboard's total assets increased to $297.0 million as of September 30, 2024, from $50.7 million as of December 31, 2023[12]. Research and Development - Research and development expenses increased by $11.0 million, or 105%, to $21.5 million for Q3 2024 compared to $10.5 million in Q3 2023[5]. - Longboard initiated a Phase 3 global clinical trial (DEEp SEA Study) for bexicaserin in Dravet syndrome, targeting participants aged 2-65 years[3]. - The FDA granted Orphan Drug designation and Rare Pediatric Disease designation for bexicaserin for the treatment of Dravet syndrome[3]. - The European Medicines Agency issued a positive opinion for the Paediatric Investigation Plan for bexicaserin for children down to the age of 2 years[2]. Administrative Expenses - General and administrative expenses rose by $3.6 million, or 116%, to $6.7 million for Q3 2024 compared to $3.1 million in Q3 2023[6].

NEW YORK, Oct. 17, 2024 (GLOBE NEWSWIRE) -- Halper Sadeh LLC, an investor rights law firm, is investigating the following companies for potential violations of the federal securities laws and/or breaches of fiduciary duties to shareholders relating to: Longboard Pharmaceuticals, Inc. (NASDAQ: LBPH)'s sale to H. Lundbeck A/S for $60.00 per share in cash. If you are a Longboard shareholder, click here to learn more about your legal rights and options. ARC Document Solutions, Inc. (NYSE: ARC)'s sale to TechPri ...

Group 1 - Monteverde & Associates PC is investigating Longboard Pharmaceuticals, Inc. regarding a tender offer from H. Lundbeck A/S, which proposes to acquire outstanding shares of Longboard common stock for $60.00 per share [1] - Monteverde & Associates PC has been recognized as a Top 50 Firm in the 2018-2022 ISS Securities Class Action Services Report, indicating its successful track record in recovering money for shareholders [1][2] - The firm operates from the Empire State Building in New York City and emphasizes its national presence in class action securities litigation [2] Group 2 - The firm encourages shareholders of Longboard Pharmaceuticals to reach out for additional information or concerns regarding the tender offer [3] - Contact information for Juan Monteverde, Esq. is provided for shareholders seeking legal assistance or more details about the case [4]

NEW YORK, Oct. 15, 2024 (GLOBE NEWSWIRE) -- Halper Sadeh LLC, an investor rights law firm, is investigating the following companies for potential violations of the federal securities laws and/or breaches of fiduciary duties to shareholders relating to: Longboard Pharmaceuticals, Inc. (NASDAQ: LBPH)'s sale to H. Lundbeck A/S for $60.00 per share in cash. If you are a Longboard shareholder, click here to learn more about your legal rights and options. Outbrain Inc. (NASDAQ: OB)'s merger with Teads. In connect ...

Group 1 - Monteverde & Associates PC is investigating Longboard Pharmaceuticals, Inc. in relation to a tender offer from H. Lundbeck A/S, which proposes to acquire outstanding shares of Longboard common stock for $60.00 per share [1] - Monteverde & Associates PC has been recognized as a Top 50 Firm in the 2018-2022 ISS Securities Class Action Services Report, indicating its successful track record in recovering money for shareholders [1][2] - The firm operates from the Empire State Building in New York City and specializes in class action securities litigation [2][3] Group 2 - The firm encourages shareholders with concerns regarding Longboard Pharmaceuticals to seek additional information free of charge [3] - Monteverde & Associates PC emphasizes that no company, director, or officer is above the law, reinforcing its commitment to shareholder rights [3]

Core Viewpoint - Longboard Pharmaceuticals (LBPH) is being acquired by Lundbeck A/S for $60 per share, totaling a deal value of $2.6 billion in equity and $2.5 billion net of cash, with shares of LBPH rising 51.7% following the announcement [1][2]. Company Overview - Longboard is a clinical-stage biopharmaceutical company focused on developing treatments for neurological disorders, with its lead candidate, bexicaserin, currently in phase III development aimed at reducing seizures [3]. Acquisition Details - The cash offer represents a 77% premium over Longboard's 30-day volume-weighted average stock price as of September 30, 2024, and has been unanimously approved by both companies' boards, expected to close in Q4 2024 pending regulatory conditions [2]. - Lundbeck plans to finance the acquisition through existing cash resources and bank financing [2]. Strategic Implications - The acquisition is a strategic move for Lundbeck to enhance its neuroscience pipeline, particularly in neuro-rare diseases, gaining access to bexicaserin for treating seizures in rare epilepsies like Dravet syndrome and Lennox-Gastaut syndrome [4]. - Year-to-date, LBPH shares have increased by 878.3%, contrasting with a 2% decline in the industry, largely due to positive developments in the bexicaserin program [4]. Clinical Development - Longboard's bexicaserin has received Breakthrough Therapy, Orphan Drug, and Rare Pediatric Disease designations from the FDA, with a projected commercial launch in Q4 2028 and estimated peak sales potential of $1.5 billion to $2 billion [7]. - The ongoing phase III DEEp SEA study is evaluating bexicaserin for seizures associated with Dravet syndrome in patients aged two years and older, part of a broader DEEp Program involving around 480 patients [6]. Additional Assets - The acquisition will also include Longboard's investigational candidate LP659, which is in early-stage development for rare neuroinflammatory conditions [8]. Competitive Landscape - Other companies in the epilepsy market include Xenon Pharmaceuticals, which is developing azetukalner for focal onset seizures and has ongoing phase III studies [9][10].

Core Viewpoint - Rowley Law PLLC is investigating potential securities law violations by Longboard Pharmaceuticals, Inc. in relation to its proposed acquisition by H. Lundbeck A/S, which is valued at approximately $2.6 billion [1]. Group 1: Acquisition Details - Longboard Pharmaceuticals stockholders will receive $60.00 for each share they hold in the company [1]. - The acquisition transaction is expected to close in the fourth quarter of 2024 [1]. Group 2: Legal Investigation - Rowley Law PLLC is representing shareholders in the investigation concerning the acquisition [1]. - Additional information regarding the investigation can be obtained by contacting Rowley Law PLLC [2].

Aug 01, 2024 / 08:30PM GMT Operator Good afternoon, ladies and gentlemen, and welcome to the Longboard Pharmaceutical earnings and incorporate update Call. As a reminder, this conference call is being recorded. I would now like to turn the call over to Brandi Roberts, Longboard's Chief Financial Officer. You may begin. Brandi Roberts - Longboard Pharmaceuticals Inc - Chief Financial Officer, Executive Vice President Thank you, and good afternoon, everyone. Welcome to Longboard's conference call and webcast ...

Shares of Longboard Pharmaceuticals (LBPH) gained 14% on Thursday after it announced that the FDA granted two designations — orphan drug and rare pediatric disease — to its lead pipeline drug bexicaserin for the treatment of Dravet syndrome (DS). An orphan drug designation is granted by the FDA to the candidates developed to treat, diagnose or prevent a rare disease or condition. This designation makes the sponsor eligible to receive seven years of market exclusivity following a potential approval and tax c ...