Company: LBRX
Filing Date: 2025-11-06
Form Type: 10-Q
Source: 0001193125-25-268174
Chunk: 0

Company: LB PHARMACEUTICALS INC
Filing Date: 2025-11-06
Form: 10-Q
Item: Item 1
Chunk 0
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LB Pharmaceuticals Inc 

Condensed Balance Sheets 

(In thousands, except share and per share data) 

(Unaudited)

     As of

     September 30, 2025

     December 31, 2024

     Assets

     Current assets

     Cash and cash equivalents
      
     $
     269,744

     $
     22,978

     Marketable securities

     44,735

     5,021

     Prepaid expenses and other current assets

     1,922

     880

     Total current assets

     316,401

     28,879

     Operating lease right-of-use assets, net

     2,198

     2,298

     Property and equipment, net

     1,635

     1,859

     Restricted cash

     512

     498

     Total assets
      
     $
     320,746

     $
     33,534

     Liabilities, redeemable convertible preferred stock and stockholders’ equity (deficit)

     Current liabilities

     Accounts payable
      
     $
     2,590

     $
     2,320

     Accrued expenses

     3,327

     5,302

     Operating lease liability, current

     730

     487

     Total current liabilities

     6,647

     8,109

     Derivative liability - warrants

     942

     2,504

     Operating lease liability, noncurrent

     2,936

     3,216

     Total liabilities

     10,525

     13,829

     Commitments and contingencies (Note 12)

     Redeemable convertible preferred stock (1)

     Series Seed preferred stock, $0.0001 par value, zero and 295,467 shares authorized, zero and 295,467 shares issued and outstanding as of September 30, 2025 and December 31, 2024, respectively. Liquidation preference of zero and $443 as of September 30, 2025 and December 31, 2024, respectively.

     —

     435

     Series A preferred stock, $0.0001 par value, zero and 3,655,374 shares authorized, zero and 3,655,374 issued and outstanding as of September 30