Earnings Releases·Nov 5, 2026, 4:16 PM ET

LB Pharmaceuticals — Third Quarter 2026 Earnings Summary

Q3 2026 net loss widened to $59.1 million from $3.6 million in the prior year period, driven by a surge in R&D expenses to $51.5 million from $2.4 million; however, cash and investments increased to $403.8 million as of September 30, 2026, up from $295.2 million at year-end 2025.
The company completed a private placement in July 2026 raising approximately $140.9 million in net proceeds, which, combined with existing cash, is expected to fund operations beyond the second quarter of 2029.
Clinical milestones include expected topline data for the Phase 3 NOVA-2 schizophrenia trial in H1 2027, with a potential FDA pre-NDA meeting scheduled for H2 2027, alongside planned initiation of a Phase 2 MDD trial in early 2027.
Leadership strengthened with the appointments of Dr. Susan G. Kozauer as Chief Medical Officer and Joseph Miller as Chief Financial Officer, while the company continues to pursue expansion into negative symptoms of schizophrenia and Alzheimer's disease psychosis.