Company: LBRX
Filing Date: 2025-09-08
Form Type: S-1/A
Source: 0001193125-25-197877
Chunk: 363

Company: LB PHARMACEUTICALS INC
Filing Date: 2025-09-08
Form: S-1/A
Chunk 363
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 statements do not include any adjustments that might be necessary if the Company is unable to continue as a going concern.

The future viability of the Company is dependent on its ability to raise additional capital to fund its operations. If the
Company is unable to obtain funding, the Company could be forced to delay, reduce or eliminate some or all of its research and development programs, which could adversely affect its business prospects, or the Company may be unable to continue
operations. Although management continues to pursue these plans, there is no assurance that the Company will be successful in obtaining sufficient funding on terms acceptable to the Company to fund continuing operations, if at all.

2. Summary of Significant Accounting Policies

Basis of Presentation

The accompanying financial
statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”).

F-8

LB Pharmaceuticals Inc

Notes to Financial Statements

Prior Period Reclassifications

Certain prior period amounts have been reclassified to conform to the current period’s presentation.

Use of Estimates

The preparation of financial
statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure at the date of the financial statements and the reported amounts of expenses during
the reporting period. Significant estimates and assumptions reflected in these financial statements include, but are not limited to, the accrual of research and development costs and the valuation of common stock, derivative warrant and stock-based
compensation. Changes in estimates and assumptions are reflected in reported results in the period in which they become known. Estimates are periodically reviewed in light of changes in circumstances, facts and experience. Actual results could
differ from the Company’s estimates.

Concentration of Risk

Financial instruments that potentially subject the Company to concentration of credit risk consist primarily of cash and cash equivalents and marketable
securities.

Segment Information

The Company
operates as a single reportable segment in the development of novel therapies for the treatment of neuropsychiatric diseases, including schizophrenia. The Company has not generated revenues since inception. The Company’s chief operating
decision maker (“CODM”) is its Chief Executive Officer (“CEO”). The CODM reviews the Company’s performance on an aggregate basis, thus the segment’s loss is the Company’s net loss, as reported on
accompanying statements of operations, and the segment’s assets are the Company’s total assets, as reported on the accompanying balance sheets. Significant expenses provided to the CODM include research and development and general and
administrative expenses, as reported