Company: LBRX
Filing Date: 2025-09-08
Form Type: S-1/A
Source: 0001193125-25-197877
Chunk: 156

Company: LB PHARMACEUTICALS INC
Filing Date: 2025-09-08
Form: S-1/A
Chunk 156
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 |     |                           |       — |   |     |      |       — |   |     |        |       — |   |
| Net loss                                                      |     | $                         | (10,177 | ) |     | $    | (43,850 | ) |     | $      |  33,673 |   |

103

Revenue We generated no revenue during the six months ended June 30, 2025 or 2024. Research and Development Expenses The following table summarizes our research and development expenses for the periods presented (in thousands):

| Direct research and development expenses |     | (Unaudited)               
 Six Months Ended June 30, 
 2025                      |       |     | 2024 |        |     | Change |         |   |
|:-----------------------------------------|:----|:--------------------------|------:|:----|:-----|-------:|:----|:-------|--------:|:--|
| Clinical trial                           |     | $                         |   487 |     | $    | 36,330 |     | $      | (35,843 | ) |
| Formulation and CMC                      |     |                           | 1,673 |     |      |    917 |     |        |     756 |   |
| Preclinical                              |     |                           |   117 |     |      |    722 |     |        |    (605 | ) |
| Indirect and unallocated expenses        |     |                           |       |     |      |        |     |        |         |   |
| Personnel-related                        |     |                           | 2,317 |     |      |  1,861 |     |        |     456 |   |
| Consulting and other                     |     |                           | 1,248 |     |      |    301 |     |        |     947 |   |
| Total research and development expenses  |     | $                         | 5,842 |     | $    | 40,131 |     | $      | (34,289 | ) |

Research and development expenses were $5.8 million for the six months ended June 30, 2025, compared to $40.1 million for the six months ended June 30, 2024. The decrease of $34.3 million was primarily due to: (i) a $35.8 million decrease in clinical trial expenses related to the conduct of our Phase