Many drugs are available for schizophrenia, but insufficient efficacy and intolerable side effects leave an unmet need that biotech companies are still trying to fill. LB Pharmaceuticals is not pursuing a novel target. It did not even discover a new molecule. The company’s lead asset offers a new twist on an old antipsychotic that could improve on limitations of the current slate of schizophrenia drugs. LB has been building its case with clinical data. As its drug candidate approaches a pivotal test, LB is now preparing to present that case to investors.

In defiance of an IPO market that, with a few exceptions , has been mostly closed to biotech companies this year, LB has formally submitted the paperwork to take itself public. The prospectus filed late Friday does not yet list a per

See Full Page