LBRX Stock — LB Pharmaceuticals Inc: Cash, EV, Pipeline

Share price

$42.47

Market cap

$1,370.0M

Cash

$327.8M

Enterprise value

$1,042.2M

Balance sheet

Cash	$327.8M
Debt	$0.0M
Net cash	$327.8M
Enterprise value	$1,042.2M
Basic shares	28.7M shares
Fully diluted shares	37.7M shares
Fully diluted market cap	$1,602.6M
Cash per share	$11.42

Cash figures as of 2026-06-30. Database snapshot: 2026-09-21.

Price history

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Upcoming catalysts

Expected	Drug	Phase	Indication	Mgmt guide
Jul 13 - Aug 24	LB-102 (50 mg tablet)	Phase 3	Schizophrenia	—
Mar 14 - Apr 25	LB-102	Phase 2	Bipolar I Disorder	—
Jan 12 - Feb 23	LB-102	Phase 3	Schizophrenia	—

Estimated readout windows: registry primary-completion date + 6-12 weeks. Windows already open are shown from "Now". Drug names link to ClinicalTrials.gov.

Full readout calendar →

Pipeline assets

LB-102

Phase 3 · Active Modality: small molecule

Target D2, D3, 5HT7

Indications

Schizophrenia (Phase 3)
Bipolar depression (Phase 2)
Adjunctive major depressive disorder (Phase 2)
Alzheimer's disease agitation/psychosis (Stage not disclosed)
Negative symptoms of schizophrenia (Stage not disclosed)

Catalysts

— second half of 2027

Status note First benzamide antipsychotic for neuropsychiatric disorders. Pivotal Phase 3 NOVA-2 in schizophrenia (concurrent open-label outpatient NOVA-3 enrolling); Phase 2 ILLUMINATE-1 in bipolar depression; Phase 2 in adjunctive MDD; additional expansion planned in negative symptoms of schizophrenia and Alzheimer's agitation/psychosis.

LB-102 LAI

Preclinical · Active Modality: long-acting injectable

Target D2, D3, 5HT7

Indications

Schizophrenia (Preclinical)

Status note Long-acting injectable formulation of LB-102 under development to improve adherence.

Per-asset detail extracted from the 10-Q filed 2026-08-11. Fields the filing does not state are marked "not disclosed" rather than filled from other sources.

Pipeline

Lead drug	LB-102 (50 mg tablet)
Lead indication	Schizophrenia
Lead phase	Phase 3
Active trials	3

Active clinical trials

Trial	Phase	Status	Role	Sponsor	BP	Condition(s)	Mgmt guide
NCT07363577	Phase 3	Recruiting	Sponsor	LB Pharmaceuticals Inc.	—	Schizophrenia	—
NCT07369154	Phase 3	Recruiting	Sponsor	LB Pharmaceuticals Inc.	—	Schizophrenia	—
NCT07494305	Phase 2	Recruiting	Sponsor	LB Pharmaceuticals Inc.	—	Bipolar I Disorder	—

Sponsor-matched active trials from ClinicalTrials.gov (3 as sponsor, 0 as collaborator); "Sponsor" = company is the lead sponsor, "Collaborator" = company is a collaborator. The BP column flags big-pharma involvement as lead sponsor or collaborator (excluding the company itself). The Mgmt guide column shows what management guided for readout timing when a guided program matches the trial (hover for the quote, click for the source). Trial listings are not a company pipeline slide.

View all 3 active trials for LB Pharmaceuticals Inc. on ClinicalTrials.gov

Institutional holders

Fund	Shares	Q/Q change	% of portfolio	Filing
Logos Global Management	585,000	-330,000	0.82%	2026-08-14
Baker Bros. Advisors	200,000	no change	0.03%	2026-08-14

Institutional holder positions from 13F filings. Q/Q change is vs the prior quarter's filing; % of portfolio is the fund's own reported portfolio weight.

LBRX — LB Pharmaceuticals Inc