Six furanocembranolides (1-6) and one pseudopterolide (7) have been isolated from the octocorals Leptogorgia alba and Leptogorgia rigida, collected on the Pacific coast of Panama. Compound 1, named leptolide, has a new structure closely related to the neurotoxin lophotoxin (3). The X-ray structures of 1-3 were determined, and the absolute configurations of 2-7 are discussed. Compounds 1-7 were evaluated in vitro against drug-resistant Plasmodium falciparum.