Company: LBRX
Filing Date: 2025-07-23
Form Type: DRS/A
Source: 0000950123-25-006557
Chunk: 136

Company: LB PHARMACEUTICALS INC
Filing Date: 2025-07-23
Form: DRS/A
Chunk 136
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 value of the redeemable convertible preferred stock and preferred stock warrant liability to stockholders’ equity upon the closing of this offering. After giving further effect to the sale of shares of common stock that we are offering at the assumed initial public offering price of $ per share, which is the midpoint of the price range set forth on the cover page of this prospectus, and after deducting the underwriting discounts and commissions and estimated offering expenses payable by us, our pro forma as adjusted net tangible book value as of would have been $ million, or approximately $ per share of common stock. This amount represents an immediate increase in pro forma net tangible book value of $ per share to our existing stockholders and an immediate dilution in pro forma net tangible book value of approximately $ per share to new investors participating in this offering. Dilution per share to new investors is determined by subtracting pro forma as adjusted net tangible book value per share after this offering from the initial public offering price per share paid by new investors. The following table illustrates this dilution on a per share basis to new investors:

| Assumed initial public offering price per share                                                  |     |   |     | $ |
| Historical net tangible book value per share as of                                               |     | $ |     |   |
| Increase in historical net tangible book value per share attributable to pro forma adjustments   
 described above                                                                                  |     |   |     |   |
| Pro forma net tangible book value per share as of                                                |     |   |     |   |
| Increase in pro forma net tangible book value per share attributable to new investors purchasing 
 shares from us in this offering                                                                  |     |   |     |   |
| Pro forma as adjusted net tangible book value per share after this offering                      |     |   |     |   |
| Dilution per share to new investors participating in this offering                               |     |   |     | $ |

The dilution information discussed above is illustrative only and will change based on the actual initial public offering price and other terms of this offering determined at pricing. Each $1.00 increase (decrease) in the assumed initial public offering price of $ per share, which is the midpoint of the price range set forth on the cover page of this prospectus, would increase (decrease) the pro forma as adjusted net tangible book value per share after this offering by approximately $ , and dilution in pro forma net tangible book value per share to new investors by approximately $ , assuming that the number of shares offered by us, as set forth