Company: LBRX
Filing Date: 2025-07-23
Form Type: DRS/A
Source: 0000950123-25-006557
Chunk: 144

Company: LB PHARMACEUTICALS INC
Filing Date: 2025-07-23
Form: DRS/A
Chunk 144
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 with troubling adverse events and insufficient efficacy for certain symptoms, including cognitive impairment associated with the disease. Since our inception in 2015, we have devoted substantially all of our resources to the research and development of LB-102by conducting clinical trials and preclinical studies and recruiting management and technical staff to support these operations. To date, we have funded our operations primarily through the aggregate gross proceeds of approximately $121.7 million from the sales of our redeemable convertible preferred stock, common stock, and convertible notes. We have not generated any revenue from product sales and we have incurred recurring losses since our inception. Our net losses were $63.1 million and $6.3 million for the years ended December 31, 2024 and 2023, respectively. As of December 31, 2024, we had an accumulated deficit of $104.3 million. We expect to continue to generate operating losses and negative operating cash flows for the foreseeable future. We anticipate that our operating expenses and capital expenditures will increase substantially with our ongoing activities, particularly as we:

| • |     | continue to progress the clinical development of LB-102 in acute 
 schizophrenia, bipolar depression and other indications;         |

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| • |     | advance additional product candidates through clinical development; |

| • |     | require the manufacture of larger quantities of LB-102 and any additional            
 product candidates to support future clinical trials or potential commercialization; |

| • |     | seek marketing authorizations for LB-102 and any of our future product 
 candidates that successfully complete clinical development, if any;    |

| • |     | acquire or license other product candidates or technologies; |

| • |     | make milestone, royalty, or other payments under our current royalty agreements or any future license agreements; |

| • |     | obtain, maintain, protect, and enforce our intellectual property portfolio; |

| • |     | seek to attract and retain new and existing skilled personnel; and |

| • |     | add operational, legal, financial, and management information systems and personnel to support our product 
 development and clinical execution, as well as to support our transition to a public company.              |

We will not generate any revenue from product sales unless and until we successfully complete clinical development and obtain regulatory approval for one or more of our product candidates. If we obtain regulatory approval for any of our product candidates, we expect to incur significant expenses related to developing our internal commercialization capability to support product sales, marketing, and distribution. As a result,