LB Pharmaceuticals Inc. has filed with the U.S. Securities and Exchange Commission for an initial public offering of up to $100 million, seeking to list its shares on Nasdaq under the symbol LBRX. The New York-based company has raised about $122 million in private financing and counts Deep Track Capital, Vida Ventures, Pontifax and TCG Crossover among its largest investors. Leerink Partners, Piper Sandler and Stifel are acting as joint bookrunners. Proceeds are expected to fund late-stage development of LB-102, an oral small-molecule antipsychotic that combines dopamine D2/D3 and serotonin 5-HT7 antagonism. In a 359-patient Phase 2 study, LB-102 achieved a statistically significant reduction in Positive and Negative Syndrome Scale scores across all tested doses and showed a tolerability profile the company described as potentially class-leading. LB Pharmaceuticals plans to begin a six-week Phase 3 trial of LB-102 in acute schizophrenia in the first quarter of 2026 and to launch a Phase 2 study in bipolar depression during the same period. If successful, the data could support a U.S. regulatory submission. The filing comes amid a tentative reopening of the biotech IPO window after a prolonged slowdown.