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HBM HEALTHCARE INVESTMENTS AG (FRA:CH001262) EQS-Adhoc: Successful debut on the stock exchange for HBM portfolio company Longboard Pharmaceuticals

Transparency directive : regulatory news

15/03/2021 06:46

EQS Group-Ad-hoc: HBM Healthcare Investments AG / Key word(s): IPO
Successful debut on the stock exchange for HBM portfolio company Longboard Pharmaceuticals

15-March-2021 / 06:46 CET/CEST
Release of an ad hoc announcement pursuant to Art. 53 KR
The issuer is solely responsible for the content of this announcement.


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: info@hbmhealthcare.com
Internet: https://www.hbmhealthcare.com
ISIN: CH0012627250
Valor: 1262725
Listed: SIX Swiss Exchange
EQS News ID: 1175438

 
End of Announcement EQS Group News Service

1175438  15-March-2021 CET/CEST

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