Company: LBRX
Filing Date: 2025-09-08
Form Type: S-1/A
Source: 0001193125-25-197877
Chunk: 10

Company: LB PHARMACEUTICALS INC
Filing Date: 2025-09-08
Form: S-1/A
Chunk 10
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 than the price offered to the public in this offering. Our Strategy Our strategy is to develop LB-102for the treatment of schizophrenia and mood disorders initially and subsequently for other neuropsychiatric disorders in the United States and internationally. Key elements of our strategy include:

| • |     | Achieve regulatory approval for LB-102 for the treatment of 
 schizophrenia.                                              |

| • |     | Advance LB-102 as a potential treatment across the spectrum of disease 
 for patients with schizophrenia.                                       |

| • |     | Expand development of LB-102 into bipolar depression and other psychosis 
 and mood disorders.                                                      |

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| • |     | Extend the life-cycle and global reach of LB-102 by advancing alternate 
 formulations.                                                           |

| • |     | Maximize the commercial opportunity of LB-102. |

Risk Factor Summary Investing in our common stock involves significant risks. You should carefully consider the risks described in the section titled “Risk Factors” immediately following this prospectus summary and elsewhere in this prospectus before making a decision to invest in our common stock. If we are unable to successfully address these risks and challenges, our business, financial condition, results of operations, or prospects could be materially and adversely affected. In such case, the trading price of our common stock would likely decline, and you may lose all or part of your investment. Below is a summary of some of the risks we face.

| • |     | We are a clinical-stage biopharmaceutical company with a limited operating history and no history of                                                                                 
 commercializing products, which may make it difficult to evaluate our approach to the discovery and development of our product candidate and the prospects for our future viability. |

| • |     | We have incurred substantial losses since our inception. We anticipate incurring substantial and increasing 
 losses for the foreseeable future and may never achieve or maintain profitability.                          |

| • |     | As a result of our history of losses and negative cash flows from operations, our consolidated financial       
 statements contain a statement regarding a substantial doubt about our ability to continue as a going concern. |

| • |     | We will require substantial additional financing in addition to the proceeds of this offering to achieve our                                                                                                 
 goals, and failure to obtain additional capital when needed, or on acceptable terms to us, could cause us to delay, limit, reduce, or terminate our product development or future commercialization efforts. |

| • |     | We have concentrated our research and development efforts on the treatment of psychiatric and neurological 
 conditions, a field