LB Pharmaceuticals completed a successful NASDAQ IPO, raising $285 million to fund clinical trials for its schizophrenia and bipolar depression drug LB-102. Investor enthusiasm prompted an upsized offering with shares climbing post-listing. Concurrently, Avidity Biosciences announced a $500 million public offering, though shares declined amid acquisition speculation. These capital raises underscore continued investor appetite in neuropsychiatry and rare disease sectors, providing critical financing for late-stage drug development and fueling biotech market activity in 2025.