Company: LBRX
Filing Date: 2025-08-22
Form Type: S-1
Source: 0001193125-25-186467
Chunk: 376

Company: LB PHARMACEUTICALS INC
Filing Date: 2025-08-22
Form: S-1
Chunk 376
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urcated from the host contract and a liability and corresponding discount was recorded on the date of issuances in the total amount of $0.7 million. The liability is remeasured at fair value at the end of each reporting period, with any changes recorded in the accompanying statements of operations. Debt issuance costs associated with the 2020 Notes totaled $1.9 million. On December 16, 2022, the Company amended and restated the 2020 Notes to cause the maturity date and the conversion terms of such notes to those terms contained in the 2022 Notes (as amended and restated). The maturity date of the 2020 Notes was extended to November 30, 2024. In accordance with ASC 470-50, Debt Modification and Extinguishments,the Company considered this extension of maturity date as a modification. The Company amortized the remaining debt issuance costs and conversion feature over the remaining life of the modified debt. F-33

LB Pharmaceuticals Inc Notes to Financial Statements The Company recognized the following changes in the debt related to the 2020 Notes during the year ended December 31, 2023 (in thousands):

|                                        |     | 2020  
 Notes |         |   |     | Debt     
 Discount |      |   |     | 2020   
 Notes, 
 Net    |        |   |
|:---------------------------------------|:----|:------|--------:|:--|:----|:---------|-----:|:--|:----|:-------|-------:|:--|
| Balance December 31, 2022              |     | $     |  10,000 |   |     | $        | (548 | ) |     | $      |  9,452 |   |
| Amortization                           |     |       |       — |   |     |          |  189 |   |     |        |    189 |   |
| Conversion to Series C preferred stock |     |       | (10,000 | ) |     |          |  359 |   |     |        | (9,641 | ) |
| Balance December 31, 2023              |     | $     |       — |   |     | $        |    — |   |     | $      |      — |   |

12. Income Taxes The provision from income taxes for the years ended December 31, 2024 and 2023 is as follows (in thousands