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
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Language: |
English |
Company: |
HBM Healthcare Investments AG |
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Bundesplatz 1 |
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6300 Zug |
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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 |
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End of Announcement |
EQS Group News Service |
1175438 15-March-2021 CET/CEST