Results for: Longboard Pharmaceuticals

Danish pharmaceutical giant H. Lundbeck A/S has announced the acquisition of Longboard Pharmaceuticals, Inc. in a deal valued at approximately $2.6 billion. The acquisition, expected to close in the fourth quarter of 2024, brings Longboard’s promising neurological disease treatments, particularly bexicaserin, into Lundbeck’s portfolio. This strategic move strengthens Lundbeck’s position in the neurological disease market and diversifies its revenue streams.

Truist Securities initiated coverage on Longboard Pharmaceuticals, Inc. (LBPH) with a Buy rating and a $60 price target, citing its CNS-focused biotech platform and the potential of its lead drug bexicaserin to disrupt the epilepsy market. The analyst believes bexicaserin’s superior safety profile and comparable efficacy to current market leader Fintepla could lead to market share gains and market expansion.