Caligan Partners LP Acquires 5.0% Stake in LB Pharmaceuticals Inc (LBRX)

Caligan Partners LP, along with its Managing Partner David Johnson, has filed a Schedule 13G indicating a new 5.0% stake in LB Pharmaceuticals Inc (LBRX). As of the event date on March 31, 2026, the reporting persons beneficially own 1,438,070 shares of common stock. Caligan Partners LP serves as the investment manager to various funds and accounts that hold these shares. The filing was made under Rule 13d-1(b), certifying that the securities were acquired in the ordinary course of business and not for the purpose of changing or influencing the control of the issuer. The calculation of the ownership percentage is based on 28,674,827 shares of common stock outstanding as of March 23, 2026. This position represents a significant new investment for Caligan Partners, crossing the 5% threshold required for public disclosure. The principal business office for the reporting persons is located in New York, NY.