Company: LBRX
Filing Date: 2025-08-22
Form Type: S-1
Source: 0001193125-25-186467
Chunk: 56

Company: LB PHARMACEUTICALS INC
Filing Date: 2025-08-22
Form: S-1
Chunk 56
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 that reveals competitively sensitive details about our organization and could be used to undermine our competitive advantage or market position. Additionally, sensitive data that we possess could be leaked, disclosed, or
revealed as a result of or in connection with our personnel’s or vendors’ use of generative AI technologies.

We have identified material weaknesses in our internal control over financial reporting. If we fail to remediate these material weaknesses, or if we experience additional material weaknesses in the future or otherwise fail to maintain effective internal control over financial reporting in the future, we may not be able to accurately or timely report our financial condition or results of operations, which may adversely affect investor confidence in us and, as a result, the value of our common stock.

As of December 31, 2024, we had limited accounting personnel and other resources to address our internal control over financial reporting.
In connection with the preparation of our financial statements for the year ended December 31, 2024, material weaknesses were identified in the design and operating effectiveness of our internal control over financial reporting. A material
weakness is a deficiency, or combination of deficiencies, in internal control over financial reporting, such that there is a reasonable possibility that a material misstatement of the annual or interim financial statements will not be prevented or
detected on a timely basis.

36

Based on our assessment, we did not appropriately design and maintain entity-level controls impacting the control environment, control activities, information and monitoring activities to prevent or detect material misstatements to the financial statements. These material weaknesses relate to: (i) an insufficient number of qualified resources to ensure adequate oversight and accountability over the performance of controls, including:

| • |     | proper segregation of duties, |

| • |     | controls over the completeness and accuracy of information used in the operation of control activities across 
 substantially all financial statement areas, and                                                              |

| • |     | retention of control evidence, and |

(ii) improper access and a lack of review over user access and user provisioning as it relates to our information technology environment and general controls over information systems that support the financial reporting process. These material weaknesses could result in a misstatement of our accounts or disclosures in our annual or interim financial statements that would not be prevented or detected on a timely basis. These material weaknesses have not been remediated as of the date of this prospectus. To remediate the material weaknesses, we continue to hire finance and accounting personnel, as well as improve our financial controls and accounting systems. We continue using services of a third-party firm