Longboard Pharma launches equity offering after stock soars 300%

Longboard Pharmaceuticals

02/01/2024 21:43

** Longboard Pharmaceuticals Inc  LBPH.O  looks to
capitalize on big jump in its shares by raising equity
    ** LBPH shares surged 316.3% to record high close of $25.10
on Tues after co said its therapy for seizures to treat
encephalopathy met main goal in an early-to-mid stage study
    ** Co after the bell commences $150 mln equity offering
    ** Cantor Fitzgerald and Citigroup acting as jt lead
bookrunners
    ** With ~23.9 mln shares outstanding, co has $600 mln market
cap, per LSEG data
      

 (Reporting by Lance Tupper and Puyaan Singh)
(Lance Tupper is a Reuters market analyst. The views expressed
are his own)
 ((lance.tupper@thomsonreuters.com
lance.tupper@tr.com 1-646-279-6380
Puyaan.Singh@thomsonreuters.com))