Longboard Pharmaceuticals rises as brain disease therapy shows promise

Longboard Pharmaceuticals

02/01/2024 14:49

** Shares of Longboard Pharmaceuticals  LBPH.O  more than
triple to an all-time high of $21.50 in early trade
    ** LBPH among top performers across U.S. stock exchanges
    ** Drug developer says its experimental therapy for seizures
associated with a neurological disease called encephalopathy met
its main goal in an early-to-mid stage study
    ** Encephalopathy is a decrease in blood flow or oxygen to
the brain that causes confusion and agitation and can affect
many different organs 
    ** Three participants reported serious adverse events
including constipation and increased seizures and overall 9
participants discontinued treatment
    ** Co is moving the therapy into late-stage studies
    ** All 7 brokerages covering LBPH rate the stock "buy" or
higher; their median PT is $16 - LSEG
    ** LBPH stock rose 85% in 2023

 (Reporting by Puyaan Singh)
 ((Puyaan.Singh@thomsonreuters.com;))