EQS-Adhoc: Successful debut on the stock exchange for HBM portfolio company Longboard Pharmaceuticals
Longboard Pharmaceuticals (Nasdaq: LBPH), a private company in the portfolio of HBM Healthcare Investments, completed its IPO last Friday. The company raised USD 80 million in new capital by issuing 5 million shares at a price of USD 16.00 each. On the first day of trading, the share price closed at USD 16.65 (+4.1%).
HBM Healthcare Investments invested USD 10 million in Longboard Pharmaceuticals in October 2020 and increased its stake by a further USD 8 million in the IPO. Following the IPO, HBM Healthcare Investments holds 1.88 million shares with a total value of USD 31.3 million.?
Longboard Pharmaceuticals focuses on the development of novel, transformative drugs for neurological diseases. The most advanced compound, LP352, an oral, centrally acting 5-HT2c superagonist, is being tested for the potential treatment of developmental and epileptic encephalopathies such as Dravet syndrome, Lennox-Gastaut syndrome and other epileptic disorders.End of ad hoc announcement Language: English Company: HBM Healthcare Investments AG Bundesplatz 1 6300 Zug
Switzerland Phone: +41438887171 Fax: +41438887172 E-mail: firstname.lastname@example.org Internet: https://www.hbmhealthcare.com ISIN: CH0012627250 Valor: 1262725 Listed: SIX Swiss Exchange EQS News ID: 1175438 ? End of Announcement EQS Group News Service