Longboard Pharmaceuticals(US:LBPH)2024-11-07 21:05Financial 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].