Company: LBRX
Filing Date: 2025-08-22
Form Type: S-1
Source: 0001193125-25-186467
Chunk: 394

Company: LB PHARMACEUTICALS INC
Filing Date: 2025-08-22
Form: S-1
Chunk 394
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. Under the Separation Agreement, the Former CEO is entitled to termination benefits until June 30, 2026, in the form of continuation of base salary in the same amount in effect as of December 31, 2024 and the payment of monthly premiums for healthcare coverage. As of December 31, 2024, the Company recorded $0.8 million of accrued termination benefits in the balance sheet. F-54

LB Pharmaceuticals Inc Notes to Condensed Financial Statements (Unaudited) The following table provides a reconciliation of the beginning and ending liability balances for the six months ended June 30, 2025:

| Balance, December 31, 2024   |     | $ |   800 |   |
| Termination benefits expense |     |   |   896 |   |
| Cash payments                |     |   |  (447 | ) |
| Balance, June 30, 2025       |     | $ | 1,249 |   |

12. Commitments and Contingencies The Company has contracted with various consultants and third parties to assist in pre-clinicalresearch and development and clinical trials work for the Company’s leading drug compounds. The contracts are terminable at any time but obligate the Company to reimburse the providers for any time or costs incurred through the date of termination. Funding Commitments In September 2023, the Company entered into a work order with a third-party contract research organization (“CRO”) to provide services with respect to the Company’s Phase 2 clinical trial of LB-102.Minimum advances will be kept by the CRO throughout the duration of the clinical trial. As of June 30, 2025, the Company recorded approximately $0.1 million in advances to the CRO, recorded in prepaid expenses and other current assets in the accompanying unaudited condensed balance sheet. The Company enters into contracts in the normal course of business with contract development and manufacturing organizations and other third parties for preclinical research studies and testing and manufacturing services, which are generally cancelable upon prior written notice. Payments due upon cancellation may consist of payments for services provided or expenses incurred, including noncancelable obligations of our service providers, up to the date of cancellation, and may also include termination penalties. As of June 30, 2025, the Company had no outstanding liabilities related to such items. Contingencies In the normal course of business, the Company is subject to loss contingencies, such as legal proceedings and claims arising out of its business.