Company: LBRX
Filing Date: 2025-07-23
Form Type: DRS/A
Source: 0000950123-25-006557
Chunk: 153

Company: LB PHARMACEUTICALS INC
Filing Date: 2025-07-23
Form: DRS/A
Chunk 153
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 trial expenses and compensation and termination expenses. Cash used in operating activities for the year ended December 31, 2023 was $12.1 million, consisting of net loss of $6.3 million and non-cashitems, including the change in fair value of conversion feature and warrant derivative liabilities of $(16.3) million and realized gain on marketable securities of $(0.3) million, partially offset by non-cashitems including: (i) loss on extinguishment of debt of $7.4 million related to the conversion of the convertible notes in August 2023; (ii) amortization of deferred financing fees related to the convertible notes of $3.9 million; (iii) amortization of premiums on investments, net of $0.4 million; and (iv) stock-based compensation expense of $0.3 million. The change in our net operating assets and liabilities was due to a $2.2 million increase in prepaid expenses primarily related to advance payments to our CRO and a $0.2 million increase in accrued interest on marketable securities, partially offset by a $1.1 million increase in accounts payable and accrued expenses related to timing of payments and clinical trial expenses. Investing Activities Cash provided by investing activities for the year ended December 31, 2024 was $23.2 million primarily related to proceeds from the sales and maturities of marketable securities, partially offset by the purchase of marketable securities to invest our excess cash. Cash used in investing activities for the year ended December 31, 2023 was $28.0 million related to the purchase of marketable securities to invest our excess cash, partially offset by maturities of marketable securities. Financing Activities Cash provided by financing activities for the year ended December 31, 2024 was $38.3 million primarily related to the proceeds from the issuance of redeemable convertible Series C preferred stock, net of issuance costs. 102

Cash provided by financing activities for the year ended December 31, 2023 was $33.7 million related to $33.0 million in proceeds from the issuance of redeemable convertible Series C preferred stock, net of issuance costs, and $0.6 million in proceeds from the issuance of convertible notes, net of issuance costs. Future Funding Requirements We expect our expenses to increase substantially in connection with our ongoing activities, in particular as we continue to advance LB-102and any of our future product candidates through clinical trials. In addition, upon the completion of this