Longboard Pharmaceuticals reports Q2 EPS (56c), consensus (44c)

At June 30, 2024, Longboard’s cash, cash equivalents and short-term investments were approximately $304.9 million. “The first half of the year has been monumental for Longboard and underpins the vision that we have been working towards since the inception of the Company, which is to help a broad range of patients living with devastating neurological conditions. With bexicaserin receiving Breakthrough Therapy designation for seizures associated with DEEs, it highlights the significant unmet need that still exists for so many patients. I want to thank the entire DEE community for this important milestone because this was the culmination of years of hard work and determination from families, physicians and advocates,” stated Kevin R. Lind, CEO. “We are proud to be the first company to generate a compelling clinical data set to evaluate DEE as a potential indication, and I want to thank the FDA for their collaboration along the way. We look forward to sharing trial design and details of our highly anticipated global Phase 3 program at an R&D Day in September.” Chief Medical Officer Randall Kaye added: “We are pleased to share topline SAD results today for LP659, our centrally acting, highly selective S1P receptor modulator. In this study, LP659 was generally safe and well tolerated and demonstrated a dose- and formulation-dependent lymphocyte reduction in healthy volunteers. We plan to provide additional updates this year related to our planned multiple-ascending dose trial following regulatory discussions. The depth of scientific data generated to date supports multiple potential attractive orphan CNS commercial opportunities.”