LB Pharmaceuticals shares surge 15.49% intraday after announcing $100M private placement to fund Phase 2 trial of LB-102 as major depression adjunct therapy.

LB Pharmaceuticals surged 15.49% in intraday trading, as the company announced a $100 million private placement to fund Phase 2 clinical trials of LB-102 as an adjunct treatment for major depressive disorder. The trials are set to begin in early 2027, with results expected in the first half of 2029. The company is a clinical-stage biopharmaceutical firm focused on developing therapies for neuropsychiatric disorders, including schizophrenia and bipolar depression. Its lead product, LB-102, is in Phase 3 trials and has completed Phase 1 trials for bipolar depression.