Company: LBRX
Filing Date: 2025-09-08
Form Type: S-1/A
Source: 0001193125-25-197877
Chunk: 405

Company: LB PHARMACEUTICALS INC
Filing Date: 2025-09-08
Form: S-1/A
Chunk 405
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.40 years. No stock options were exercised or expired during the six months ended June 30, 2025 and 2024. There was 0.02 million stock options forfeited during the six months ended June 30, 2024. In connection with a reduction in force (“RIF”) initiated in May 2025, the Company modified stock option awards granted to the Chief Financial Officer (“Former CFO”) and Chief Scientific Officer (“Former CSO”). These modifications involve the acceleration of service-based vesting conditions and were accounted for as Type III modifications (improbable-to-probablevesting) in accordance with ASC 718. During the six months ended June 30, 2025, the Company recognized a reduction of $0.2 million in stock-based compensation expense included in general and administrative expense and an increase of less than $0.1 million included in research and development expense on the unaudited condensed statement of operations as a result of the RIF. The fair value of the modified stock options was remeasured as of May 6, 2025 using the Black-Scholes option pricing model, incorporating the following assumptions:

|                                     |     | May 6, 2025 |             |
|:------------------------------------|:----|:------------|------------:|
| Expected life of options (in years) |     |             | 0.25 - 0.56 |
| Risk-free interest rate             |     |             |       4.42% |
| Expected volatility                 |     |             |       86.7% |
| Dividends                           |     |             |           — |
| Fair value of common stock          |     | $           |       22.03 |

There were no realized tax benefits for the six months ended June 30, 2025 or 2024. Restricted Stock The Company did not grant any restricted stock during the six months ended June 30, 2025 or 2024. Restricted stock vests over the period of time for which services are expected to be rendered, which ranged from immediate vesting, up to 36 months, or vests on the six-monthanniversary of the consummation of the Company’s first underwritten public offering (“IPO”) under the Securities Act of 1933, as amended. F-53

LB Pharmaceuticals Inc Notes to Condensed Financial Statements (Unaudited) During the six months ended June 30, 2025 and 2024, the Company recognized stock