Longboard Pharmaceuticals reports Q3 EPS (55c), consensus (72c)

At September 30, 2023, Longboard’s cash, cash equivalents and short-term investments were approximately $56.0 million, which includes net proceeds of $5.8 million from a total of 822,250 shares sold through the Company’s at-the-market facility based on a reverse inquiry from a new, high-quality fund. Cash runway is expected to support operations into fourth quarter 2024. “We look forward to PACIFIC Study topline data in January 2024 evaluating LP352 in people living with Developmental and Epileptic Encephalopathies, or DEEs. We are thrilled with the enthusiasm from the DEE community about LP352 and our clinical development program given the significant unmet medical need-both in the syndromes with specifically approved therapies, as well as the 20-plus syndromes that have limited or no access to newer, novel therapies. DEE caregivers and healthcare providers continue to be frustrated with the lack of new treatment options and remain focused on finding treatment options that balance safety, efficacy and burden.”