Company: LBRX
Filing Date: 2025-09-08
Form Type: S-1/A
Source: 0001193125-25-197877
Chunk: 376

Company: LB PHARMACEUTICALS INC
Filing Date: 2025-09-08
Form: S-1/A
Chunk 376
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 of monthly premiums for healthcare coverage; and provided that the Former CEO continues to provide consulting services to the Company as a consultant, the continued vesting of outstanding stock option awards in accordance with the applicable equity plans and stock option agreements. During the year ended December 31, 2024, the Company recorded $0.8 million of termination benefits in general and administrative expense in the accompanying statements of operations. See Note 10 Stock-Based Compensationfor additional information on the continued vesting of outstanding stock options. 7. Leases In May 2024, the Company entered into a new lease agreement for office space in New York, New York. The Company received $1.2 million of leasehold improvement incentives associated with the new lease agreement. The term of this lease commenced on June 21, 2024, which is the date the Company obtained control over the leased premises. The lease term continues through March 2032. The Company’s real estate lease agreement includes variable payments that are passed through by the landlord, such as insurance, taxes, and common area maintenance, and payments based on the usage of the asset. Pass-through charges and payments due to changes in usage of the asset are included within variable rent expense. Operating leases are recognized over the lease term and included in general and administrative expenses in the accompanying statements of operations. Variable lease expenses are recognized in general and administrative expenses in the accompanying statements of operations as incurred. The Company’s lease agreement does not contain material residual value guarantees, restrictions, or covenants. The Company has no other operating leases recognized on the accompanying balance sheets. The components of lease expense were as follows for the years ended December 31, 2024 and 2023 (in thousands):

|                          |     |   | December 31, 
         2024 |     |   | December 31, 
         2023 |
|:-------------------------|:----|:--|-------------:|:----|:--|-------------:|
| Operating lease expense  |     | $ |          308 |     | $ |            — |
| Short-term lease expense |     |   |          119 |     |   |           72 |
| Total lease expense      |     | $ |          427 |     | $ |           72 |

F-21

LB Pharmaceuticals Inc Notes to Financial Statements Short-term lease expense includes expenses related to the Company’s 2018 operating lease agreement for office space in New York, New York. The lease agreement was month-to