Company: LBRX
Filing Date: 2025-08-22
Form Type: S-1
Source: 0001193125-25-186467
Chunk: 151

Company: LB PHARMACEUTICALS INC
Filing Date: 2025-08-22
Form: S-1
Chunk 151
---
 will impact our clinical development programs and plans. General and Administrative Expenses General and administrative expenses consist primarily of:

| • |     | personnel expenses, including salaries, benefits and stock-based compensation, for personnel in our executive, 
 finance, corporate and business development, and administrative functions;                                     |

| • |     | professional fees for legal, patent, accounting and audit, information technology, and tax; |

| • |     | consulting services including fees paid to our board of directors; and |

| • |     | other expenses including travel expenses, rent expense, and other operating costs. |

We expect that our general and administrative expenses will increase in the future as we expand our headcount to support our continued research and development of our product candidates. We also expect to incur increased expenses associated with operating as a public company including:

| • |     | costs related to accounting, audit, legal, compliance, regulatory, 
 and tax-related services;                                          |

| • |     | costs related to compliance with the rules and regulations of the SEC and listing standards applicable to 
 companies listed on a national securities exchange;                                                       |

| • |     | director and officer insurance costs; and |

| • |     | investor and public relations costs. |

In addition, if we obtain regulatory approval for any of our product candidates and do not enter into a third-party commercialization collaboration, we expect to incur significant expenses related to building a sales and marketing team to support product sales, marketing, and distribution activities. Non-operatingIncome (Expense) Non-operatingincome (expense) consists primarily of interest income on our cash and cash equivalents and marketable securities, interest expense on borrowings under our convertible note agreements, and non-cashchanges in the fair value of our outstanding preferred stock warrant liability and conversion feature derivative liability related to our convertible notes. 99

Results of Operations Comparison of the Years Ended December 31, 2024 and 2023 The following table summarizes our results of operations for the years ended December 31, 2024 and 2023 (in thousands):

|                                                               |     | Year Ended December 31, |    2024 |   |     |   |    2023 |   |     |   |  Change |   |
|:--------------------------------------------------------------|:----|:------------------------|--------:|:--|:----|:--|--------:|:--|:----|:--|--------:|:--|
| Operating expenses                                            |     |                         |         |   |