US-based biotech LB Pharmaceuticals has broken the 2025 biotech initial public offering (IPO) drought – and with style – raising $285m via a public listing on the US stock market. The company, which is developing treatments for schizophrenia, is offering 19 million shares of its common stock at a public offering price of $15 each. It marks an upsized offering, given LB Pharmaceuticals had originally outlined 16.7 million earlier this week. The $285m could increase by $42.7m if underwriters take an additi ...