November has seen a slew of executive hires, promotions and layoffs across the healthcare industry. For instance, the Joint Commission, Silicon Valley Bank and Regard named new executives. There were also layoffs at organizations including Oak Street Health, Providence and Optum.
LB Pharmaceuticals found enough investor interest to boost the size of its IPO, which will finance clinical trials in schizophrenia and bipolar depression. The biotech has modified an old Sanofi drug with changes intended to reduce side effects and allow less frequent dosing.
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LB Pharmaceuticals’ planned IPO will fund late-stage clinical development of LB-102, a once-daily pill designed to improve on the old Sanofi schizophrenia drug Solian. The IPO filing follows a corporate restructuring in May that cut the jobs of LB’s chief financial and scientific officers to streamline operations and extend its cash runway.