Longboard Pharmaceuticals (LBPH) 1 Aug 24 2024 Q2 Earnings call transcript

In a recent earnings call, Longboard Pharmaceuticals presented a comprehensive update on its corporate progress and clinical development of its lead asset, Bexicaserin, and second clinical stage asset, LP659. The call, led by President and CEO, Kevin Lind, Chief Financial Officer, Brandi Roberts, and Dr. Randall Kaye, provided valuable insights into the company's strategic direction, financials, and the potential impact of its pipeline on the healthcare industry.

Bexicaserin: A Game Changer for Developmental and Epileptic Encephalopathies

The highlight of the call was the discussion on Bexicaserin, a highly selective and specific 5-HT2C receptor agonist, which has shown remarkable efficacy in Developmental and Epileptic Encephalopathies (DEEs). The drug has demonstrated a median reduction of countable motor seizures of approximately 60% in highly refractory participants, even when used in conjunction with 3 to 4 other anti-seizure medications. This achievement is noteworthy, as DEEs are a group of rare, severe neurological disorders with limited treatment options. The positive results from the Phase Ib/IIa PACIFIC study and the recent FDA Breakthrough Therapy designation for seizures associated with DEEs under the age of 2 are significant milestones for Longboard Pharmaceuticals.

LP659: A Promising S1P1,5 Receptor Modulator

LP659, a centrally acting S1P receptor modulator, is another promising asset in Longboard's pipeline. Designed to be a next-generation S1P1 receptor agonist, LP659 has shown promise in preclinical models for various conditions. Its rapid onset and offset of action, high oral bioavailability, and targeted approach make it an attractive candidate for treating a range of orphan neurological disorders. With a substantial market for S1P receptor modulators in CNS applications, Longboard Pharmaceuticals is well-positioned to capitalize on the potential of LP659.

Financial Outlook and Strategic Direction

The call also included an update on Longboard's financials, with an approximate $305 million in cash and investments as of June 30, 2024. The company plans to continue investing in its vision for Bexicaserin and LP659, aiming for a global Phase III program in the second half of the year. This ambitious plan is underpinned by the company's confidence in its pipeline and its commitment to addressing the significant unmet medical needs in the DEE and neurological disorder spaces.

A Bright Future Ahead

Longboard Pharmaceuticals' earnings call painted a picture of a company at the forefront of neurological disorder research and development. With its lead asset, Bexicaserin, demonstrating significant potential in the treatment of DEEs, and LP659 showcasing its promise as a next-generation S1P receptor modulator, Longboard Pharmaceuticals is well-positioned to make a difference in the lives of patients suffering from these debilitating conditions. The company's strategic direction, financial strength, and commitment to innovation bode well for its future. As it moves forward with its Phase III program, Longboard Pharmaceuticals is poised to bring transformative therapies to patients and create value for its shareholders.