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Tag: Longboard Pharmaceuticals

  • Acquisition News Sparks Pre-Market Stock Rally For Longboard (LBPH)

    Acquisition News Sparks Pre-Market Stock Rally For Longboard (LBPH)

    As of the most recent check, the stock price of Longboard Pharmaceuticals, Inc. (NASDAQ: LBPH) has risen 51.62% to $58.98, a significant increase during pre-market activity. The news of a purchase deal by the multinational pharmaceutical company H. Lundbeck A/S caused LBPH shares to soar. The agreement was a strategic effort by Lundbeck to raise its profile in neurological treatments.

    Specifics of the Purchase Agreement

    The agreement states that Lundbeck will launch a tender offer to buy all of Longboard’s outstanding common stock. A cash payment of $60 per share is made to Longboard stockholders, valuing the deal at around $2.6 billion.

    After accounting for net cash and fully diluted, the transaction is valued at $2.5 billion, or around DKK 17 billion. The merger, which has been unanimously approved by the boards of both companies, is anticipated to close in the fourth quarter of 2024, pending regulatory approvals and other customary conditions.

    Longboard’s main asset

    Longboard Pharmaceuticals specializes on developing innovative treatments for neurological disorders. Bexicaserin, its main product, is a 5-HT2C receptor agonist of the next generation that is intended to lessen seizures. The drug is now finishing phase III clinical trials as part of the DEEp Program and has shown promising results in preclinical and clinical testing.

    Bexicaserin’s Breakthrough Therapy Designation from the U.S. Food and Drug Administration emphasizes the medication’s potential as a revolutionary treatment for epilepsy, particularly in rare forms such Dravet syndrome and Lennox-Gastaut syndrome.

    Strategic Benefits for Lundbeck

    The acquisition of Longboard fits well within Lundbeck’s strategy to build a neuro-rare disease franchise. With bexicaserin projected to achieve global peak sales between $1.5 and $2 billion, this asset diversifies Lundbeck’s portfolio and strengthens its pipeline of neurological treatments.

    Lundbeck plans to fund the acquisition through its cash reserves and existing bank facilities, with an emphasis on de-leveraging post-transaction. Following the successful completion of the tender offer, Lundbeck will acquire any remaining shares through a merger, further solidifying its leadership in rare neurological diseases.

  • Why Longboard (LBPH) Stock Is Skyrocketing Today?

    Why Longboard (LBPH) Stock Is Skyrocketing Today?

    The stock of Longboard Pharmaceuticals, Inc. (NASDAQ: LBPH) is increasing on US charts this morning. When we last checked in current session, Longboard’s stock was up 202.82% to $18.26. The positive outcomes of a significant clinical trial preceded the spike in LBPH shares.

    Today, Longboard has released good topline results (LP352) from the PACIFIC Study, which is examining bexicaserin. It is an oral, new 5-HT2C receptor superagonist that is extremely selective and may be the best in class for treating seizures brought on by a variety of developmental and epileptic encephalopathies (DEEs).

    52 people with a DEE diagnosis, aged 12-65, were recruited at 34 study locations in the US and Australia as part of the ground-breaking PACIFIC Study, which assessed the pharmacokinetics, safety, tolerability, and effectiveness of oral bexicaserin. Diagnoses for participant DEEs included LGS, DS, and other DEEs that met eligibility requirements.

    In the DS, LGS, and DEE Other groups, the median change in countable motor seizure frequency from baseline was a reduction of 72.1%, 48.1%, and 61.2%, respectively. This amounts to a 27.3% and 28.6%, respectively, placebo-adjusted decrease in the frequency of seizures in LGS and DEE Other.

    After completing the PACIFIC research, all participants made the decision to sign up for the current 52-week open-label extension research. With the potential to reinvent the standard of treatment in DEEs, bexicaserin’s distinctive profile could develop into a therapeutically and commercially best-in-class solution, as these exciting results from the PACIFIC Study demonstrate.

    Together with good safety and tolerability outcomes, a significant seizure reduction was observed in a variety of DEE syndromes with different etiologies. With this significant accomplishment, LBPH gets one step closer to bettering the lives of individuals and their families affected by these incurable illnesses.

    For treating patients with severely refractory, treatment-resistant seizures, doctors are searching for alternatives that have less adverse effects, are easier to combine with current treatments, and are less burdensome. This is a novel and distinctive method for clinical development that will increase research’s reach throughout the DEE community.