Longboard Pharmaceuticals, Inc. Reports Strong Financial Results and Promising Drug Candidates
Longboard Pharmaceuticals, Inc is making significant progress in its mission to develop innovative treatments for neurological diseases. The company recently provided a corporate update and reported its financial results for the second quarter of 2023. With a strong cash position of $63.0 million, Longboard is well-positioned to continue its operations into mid-2024.
One of the company’s most promising product candidates is LP352, an oral, centrally acting 5-hydroxytryptamine 2C (5-HT2C) receptor superagonist. This drug has shown no impact on 5-HT2B and 5-HT2A receptor subtypes, making it a potentially safe and effective treatment for seizures associated with a broad range of developmental and epileptic encephalopathies (DEEs). Longboard is currently conducting the Phase 1b2a PACIFIC Study, with enrollment expected to be completed this summer and topline data expected by the end of 2023.
In addition to LP352, Longboard is also evaluating LP659, an oral, centrally acting, sphingosine-1-phosphate (S1P) receptor subtypes 1 and 5 modulator. This drug has the potential to treat multiple neurological diseases and is currently in development.
The company’s strong financial position and promising drug candidates have attracted attention from industry experts alike. Longboard’s President and CEO, Kevin R. Lind, stated, “We believe LP352’s best-in-class characteristics provide us with the opportunity to deliver a clinically meaningful treatment for those living with DEEs. We also look forward to making advances on LP659.”
Longboard’s success in its clinical trials and strategic initiatives has solidified its position as a resilient and attractive choice in the biopharmaceutical industry. The company’s ongoing Phase 1b2a PACIFIC Study is expected to inform the design and characteristics of its Phase 3 program. Participants who complete the study will have the option to enroll in the ongoing open-label extension (OLE) trial.
Longboard Pharmaceuticals, Inc. is making significant progress in its mission to develop innovative treatments for neurological diseases.
