LB Pharmaceuticals raised $285 million through an upsized IPO on Nasdaq, signalling renewed investor interest in biotech after a seven-month hiatus. The company plans to use the proceeds to advance clinical trials of LB-102, an oral drug candidate for schizophrenia and bipolar depression. LB-102 is designed to improve on amisulpride’s profile by reducing side effects and allowing less frequent dosing. Shares surged following the public offering announcement.