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LB Pharmaceuticals Announces Publication in JAMA Psychiatry of Results from Phase 2 NOVA-1 Trial of LB-102 in Schizophrenia

(Positive)

LB Pharmaceuticals (Nasdaq: LBRX) announced publication in JAMA Psychiatry of Phase 2 NOVA-1 results for LB-102 in adults with acute schizophrenia. The trial showed statistically significant benefit versus placebo, rapid onset at week 1, sustained effect at endpoint, and a favorable safety profile. The pivotal Phase 3 NOVA-2 trial (approx. 460 patients, 6 weeks, ~25 U.S. sites) is ongoing with topline data expected in 2H 2027.

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Positive

  • Phase 2 NOVA-1 showed statistically significant benefit versus placebo at all doses
  • Rapid onset of effect observed by week 1
  • Low rates of EPS including akathisia and minimal sedation reported
  • Evidence of effects on negative symptoms and cognitive performance
  • Pivotal Phase 3 NOVA-2 enrolling ~460 patients; topline expected 2H 2027

Negative

  • None.

News Market Reaction – LBRX

-3.16%
-3.16% Session close to close

In the Apr 23 session, LBRX declined 3.16%, reflecting a moderate negative market reaction.

Data tracked by StockTitan Argus on the day of publication.

Market Context

This announcement reinforces previously disclosed positive Phase 2 NOVA-1 results for LB-102, now pe...
Analysis

This announcement reinforces previously disclosed positive Phase 2 NOVA-1 results for LB-102, now peer-reviewed in JAMA Psychiatry, and highlights ongoing development through the pivotal NOVA-2 schizophrenia trial and additional Phase 2 programs. Investors may focus on LB-102’s efficacy, safety, and cognitive findings, the planned ~460-patient NOVA-2 design, and upcoming catalysts like the expected 2H 2027 topline readout and future mood-disorder data.

Key Figures

Phase 2 duration: 4 weeks Phase 3 NOVA-2 duration: 6 weeks NOVA-2 enrollment: approximately 460 patients +5 more
8 metrics
Phase 2 duration 4 weeks Placebo-controlled, double-blind NOVA-1 schizophrenia trial
Phase 3 NOVA-2 duration 6 weeks Pivotal schizophrenia trial design
NOVA-2 enrollment approximately 460 patients Planned sample size across U.S. sites
Trial sites 25 sites NOVA-2 sites in the United States
Topline NOVA-2 timing 2H 2027 Expected Phase 3 schizophrenia readout
ILLUMINATE-1 topline timing 1Q 2028 Phase 2 bipolar depression trial (from prior filings context)
Adjunctive MDD trial start early 2027 Planned Phase 2 adjunctive MDD study
Dosing frequency once daily Oral LB-102 regimen in trials

Previous Clinical trial Reports

3 past events · Latest: Mar 27 (Positive)
Same Type Pattern 3 events
Date Event Sentiment 24h Move Catalyst
Mar 27 Phase 2 cognition data Positive -2.8% New NOVA-1 analysis showing dose-dependent global cognition improvement for LB-102.
Mar 25 Phase 3 initiation Positive +3.6% Start of pivotal Phase 3 NOVA-2 trial in schizophrenia with LB-102.
Jan 26 Phase 2 bipolar trial Positive -6.4% Launch of Phase 2 ILLUMINATE-1 trial of LB-102 in bipolar 1 depression.

24h Move is the share-price change in the day after each event; other market factors may also have contributed.

Pattern Detected

Clinical trial updates have often seen muted-to-negative next-day moves, with 2 of 3 prior tagged events trading down despite positive data.

Recent Company History

Over recent months, LBRX has repeatedly highlighted LB-102’s progress in neuropsychiatric disorders. On Jan 26, 2026, it began the Phase 2 ILLUMINATE-1 trial in bipolar depression, followed by initiation of the pivotal Phase 3 NOVA-2 schizophrenia trial on Mar 25, 2026. New NOVA-1 analyses on Mar 27, 2026 emphasized cognitive benefits. Today’s JAMA Psychiatry Phase 2 publication reinforces the same efficacy, safety, and cognition themes that underpin the broader LB-102 program.

Key Terms

phase 2, phase 3, double-blind, placebo-controlled, +4 more
8 terms
phase 2 medical
"a Phase 2 Randomized Clinical Trial."
Phase 2 is the mid-stage clinical trial where a new drug or treatment is tested in a larger group of patients to see if it works and to keep checking safety after initial human testing. Think of it as a field test that proves whether a product actually delivers its promised benefit. Investors watch Phase 2 closely because its results strongly influence a medicine’s chances of reaching the market, the size of its potential sales, and the company’s valuation.
phase 3 medical
"pivotal Phase 3 NOVA-2 trial for patients with schizophrenia"
Phase 3 is the late-stage clinical testing step for a new drug or medical treatment, where the product is given to large groups of patients to confirm effectiveness, monitor side effects, and compare it to standard care. Successful Phase 3 results are often the final scientific hurdle before regulators decide on approval and market launch—like passing a final exam before graduation—and can sharply change a company's valuation and future revenue prospects.
double-blind medical
"four-week placebo-controlled, double-blinded, Phase 2 trial in patients"
A double-blind process means that neither the people conducting an activity nor the people involved know certain key details, such as who is receiving a treatment or a placebo. This approach helps prevent bias from influencing the results, making the outcome more trustworthy. For investors, it ensures that decisions or judgments are based on unbiased information rather than preconceived opinions or expectations.
placebo-controlled medical
"four-week placebo-controlled, double-blinded, Phase 2 trial in patients"
"Placebo-controlled" describes a testing method where one group receives the actual treatment or intervention, while another group receives a harmless, inactive version called a placebo. This approach helps determine whether the real treatment has genuine effects beyond psychological expectations. For investors, understanding this ensures confidence that reported benefits are real and not influenced by bias or false perceptions.
eps medical
"a potentially class-leading safety profile with low rates of EPS (including akathisia)"
Earnings per share (EPS) measures how much profit a company makes for each outstanding share of its stock by dividing the company’s profit after expenses by the number of shares. It matters to investors because it shows how much of the company’s “pie” each share represents—higher EPS usually signals greater profitability per share, helps compare companies of different sizes, and influences stock valuations and investor decisions.
View in glossary
akathisia medical
"low rates of EPS (including akathisia), minimal sedation and few GI side effects"
A movement disorder that makes a person feel an uncontrollable inner restlessness and a strong need to move, often described like an internal motor that prevents sitting still. It most commonly appears as a side effect of certain medications and matters to investors because it can trigger safety warnings, product restrictions, patient complaints or lawsuits, and reduced drug use—factors that can materially affect a company’s revenue and regulatory standing.
5ht-7 receptors medical
"selective antagonist of D2, D3, and 5HT-7 receptors that is being advanced"
A 5‑HT7 receptor is a specific protein on the surface of certain brain and body cells that detects the neurotransmitter serotonin and helps regulate mood, sleep cycles, and body rhythms; think of it as a lock that opens when serotonin's key fits. Investors care because medicines that selectively activate or block this receptor are potential treatments for depression, cognitive or sleep disorders and some neurological conditions, so progress in targeting 5‑HT7 can materially affect drug pipelines, regulatory risk and company valuations.
pre-nda regulatory
"the Company expects to hold a pre-NDA meeting with FDA thereafter."
A "pre-nda" is an early-stage agreement where parties share confidential information before fully committing to a deal or partnership. It acts like a promise to keep shared details private, allowing them to explore opportunities safely. For investors, it signals serious interest and helps ensure that sensitive information remains protected as discussions progress.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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  • Pivotal Phase 3 NOVA-2 trial in schizophrenia ongoing, topline data expected in 2H 2027

  • LB-102 has potential to be the first benzamide approved for schizophrenia in the U.S.

NEW YORK, April 22, 2026 (GLOBE NEWSWIRE) -- LB Pharmaceuticals Inc (“LB Pharmaceuticals” or the “Company”) (Nasdaq: LBRX), a late-stage biopharmaceutical company developing novel therapies for schizophrenia, bipolar depression, adjunctive major depressive disorder (MDD), and other neuropsychiatric diseases, today announced the publication in the Journal of the American Medical Association (JAMA) Psychiatry of its manuscript titled “Antipsychotic Efficacy and Safety of LB-102 in the Treatment of Adults with Acute Schizophrenia: A Phase 2 Randomized Clinical Trial.” LB-102, a novel, once-daily, oral investigational small molecule, is a selective antagonist of D2, D3, and 5HT-7 receptors that is being advanced as a potential first benzamide in the U.S. for the treatment of neuropsychiatric disorders.

“We are pleased to publish the positive results from the Phase 2 NOVA-1 trial in this prestigious, peer-reviewed journal, which we believe underscores the potential for LB-102, if approved, to become an important new treatment option for patients with schizophrenia,” commented Anna Eramo, MD, Chief Medical Officer of LB Pharmaceuticals. “Based on LB-102’s unique mechanism and these compelling clinical results, we have advanced LB-102 into the pivotal Phase 3 NOVA-2 trial for patients with schizophrenia the Phase 2 ILLUMINATE-1 trial of LB-102 in bipolar depression and plan to initiate a Phase 2 trial in adjunctive MDD in early 2027.”

The positive data from the NOVA-1 trial were first announced in early 2025. In this four-week placebo-controlled, double-blinded, Phase 2 trial in patients with acute schizophrenia, LB-102 demonstrated statistically significant benefit versus placebo at all doses studied, including rapid onset of effect at week 1 and sustained benefit through the endpoint of the trial, a potentially class-leading safety profile with low rates of EPS (including akathisia), minimal sedation and few GI side effects, alongside effects on negative symptoms and cognitive performance. These data underscore LB‑102’s potential to address multiple domains of neuropsychiatric disease.

LB-102 is currently being evaluated in the pivotal Phase 3 NOVA-2 trial in patients with acute schizophrenia. NOVA-2 is a double-blind placebo-controlled trial that is 6 weeks in duration and designed to enroll approximately 460 patients across 25 sites in the United States. Topline results from NOVA-2 are anticipated in the second half of 2027 and if positive, the Company expects to hold a pre-NDA meeting with FDA thereafter.

About LB-102

LB-102 is a novel, once-daily, orally administered investigational small molecule and potential first benzamide antipsychotic in the U.S. for the treatment of neuropsychiatric disorders. A methylated derivative of amisulpride, a widely used antipsychotic outside the U.S., LB-102 was developed to retain amisulpride’s benefits while addressing its limitations. LB-102 is a selective antagonist of D2, D3, and 5HT-7 receptors with few off-target effects and broad therapeutic potential across psychosis and mood disorders. In early 2025, LB Pharmaceuticals announced positive data from a four-week placebo-controlled, double-blinded, Phase 2 trial in patients with acute schizophrenia. In this trial, LB-102 demonstrated statistically significant benefit versus placebo at all doses studied, including rapid onset of effect at week 1 and sustained benefit through the endpoint of the trial, a potentially class-leading safety profile with low rates of EPS (including akathisia), minimal sedation and few GI side effects, alongside effects on negative symptoms and cognitive performance. These data underscore LB‑102’s potential to address multiple domains of neuropsychiatric disease. A Phase 3 clinical trial (NOVA-2) of LB-102 for schizophrenia and a Phase 2 clinical trial (ILLUMINATE-1) of LB-102 for bipolar depression have been initiated, and a Phase 2 trial in adjunctive treatment of MDD is planned. Additional expansion opportunities for LB-102 include predominantly negative symptoms of schizophrenia, Alzheimer’s disease psychosis and agitation, as well as other neuropsychiatric diseases.

About LB Pharmaceuticals

LB Pharmaceuticals is a late-stage biopharmaceutical company developing novel therapies for the treatment of schizophrenia, bipolar depression, the adjunctive treatment of MDD, and other neuropsychiatric diseases. The Company is building a pipeline that leverages the broad therapeutic potential of its lead product candidate, LB-102, which the Company believes has the potential to be the first benzamide antipsychotic drug approved for neuropsychiatric disorders in the United States. LB-102, if approved, has the potential to become a mainstay of psychiatric practice by offering a balanced clinical activity and tolerability profile that provides a potentially attractive alternative to branded and generic therapeutics for the treatment of schizophrenia, bipolar depression, adjunctive MDD, and other neuropsychiatric diseases.

Cautionary Note Regarding Forward-Looking Statements

Statements contained in this press release regarding matters that are not historical facts are “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, as amended. Words such as “aim,” “anticipate,” “assume,” “believe,” “contemplate,” “continue,” “could,” “design,” “due,” “estimate,” “expect,” “goal,” “intend,” “may,” “objective,” “plan,” “positioned,” “potential,” “predict,” “seek,” “should,” “target,” “will,” “would” or similar expressions are intended to identify forward-looking statements. All statements other than statements of historical facts contained in this press release are forward-looking statements. These forward-looking statements include, but are not limited to, statements concerning the expected clinical development and regulatory pathway and therapeutic benefits of LB-102;and the design, objectives, initiation, timing, progress and results of current and future clinical trials of LB-102, including the Phase 2 NOVA-1 trial, the Phase 3 NOVA-2 trial and the Phase 2 ILLUMINATE-1 trial. Because such statements are subject to risks and uncertainties, actual results may differ materially from those expressed or implied by such forward-looking statements. These risks and uncertainties include, among others: the Company’s limited operating history and historical losses; the Company’s ability to raise additional funding to complete the development and any commercialization of LB-102; the Company’s dependence on the success of its lead product candidate, LB-102; the Company’s ability to obtain regulatory approval of and successfully commercialize its product candidate; the early stages of clinical development of the Company’s lead product candidate, LB-102; any undesirable side effects or other properties of the Company’s product candidate; that the Company may be delayed in initiating, enrolling or completing any clinical trials; competition from third parties that are developing products for similar uses; the Company’s ability to obtain, maintain and protect its intellectual property; and the Company’s dependence on third parties in connection with manufacturing, clinical trials and preclinical studies.

These and other risks are described more fully in the section titled “Risk Factors” in the Company’s Annual Report on Form 10-K for the year ended December 31, 2025 and its other documents to be subsequently filed with or furnished to the Securities and Exchange Commission. All forward-looking statements contained in this press release speak only as of the date on which they were made. Except to the extent required by law, the Company undertakes no obligation to update such statements to reflect events that occur or circumstances that exist after the date on which they were made.

Media and Investor Contact
Ellen Rose
erose@lbpharma.us


FAQ

What did LB Pharmaceuticals (LBRX) announce on April 22, 2026 about LB-102?

LB Pharmaceuticals announced publication of Phase 2 NOVA-1 results in JAMA Psychiatry showing significant benefit versus placebo. According to the company, NOVA-1 demonstrated rapid onset at week 1, sustained endpoint benefit, low EPS rates, and supported advancement into the pivotal Phase 3 NOVA-2 trial.

What were the key clinical findings from the Phase 2 NOVA-1 trial of LB-102 (LBRX)?

NOVA-1 reported statistically significant efficacy versus placebo at all doses and a rapid onset by week 1. According to the company, the trial also showed sustained effect through the endpoint, low EPS including akathisia, minimal sedation, and improvements in negative symptoms and cognition.

What is the design and timeline for the LB-102 Phase 3 NOVA-2 trial (LBRX)?

NOVA-2 is a double-blind, placebo-controlled, 6-week pivotal trial designed to enroll approximately 460 patients across about 25 U.S. sites. According to the company, topline results are anticipated in the second half of 2027 and a pre-NDA meeting is planned if results are positive.

Could LB-102 become a first-in-class benzamide for schizophrenia in the U.S. (LBRX)?

LB-102 is being advanced as a potential first benzamide approved for schizophrenia in the U.S. According to the company, its unique D2/D3/5HT-7 antagonist profile and Phase 2 NOVA-1 results support further development in Phase 3.