Schizophrenia drug developer LB Pharma jumps in trading debut

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IPO stands for Initial Public Offering, which is a company"s fundraising by issuing and offering shares to the public for businesses that want to enter the stock market for growth opportunities and long-term funding from investors.

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LB Pharmaceuticals (LBRX) climbed ~26% on Thursday as the New York-based biopharma, focused on developing drugs for neurological conditions such as schizophrenia, opened for trading after raising $285M from its IPO.

Late Wednesday, the company priced the offering of roughly 19M

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