Company: LBRX
Filing Date: 2025-09-08
Form Type: S-1/A
Source: 0001193125-25-197877
Chunk: 144

Company: LB PHARMACEUTICALS INC
Filing Date: 2025-09-08
Form: S-1/A
Chunk 144
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 titled “Description of Capital Stock—Warrants—Maxim Warrants;” |

| • |     | 2,557 Series B-1 common stock warrants to purchase 2,557 shares of our common stock of which 2,557 Series B-1                                                                                                           
 common stock warrants remain to be exercised as of June 30, 2025, with an exercise price of $0.28 per share, as more fully described in the section titled “Description of Capital Stock—Warrants—Series B-1 Warrants;” |

| • |     | 3,509 New Series B common stock warrants to purchase 3,509 shares of our common stock of which 3,509 New Series B                                                                                                          
 common stock warrants remain to be exercised as of June 30, 2025, with an exercise price of $41.84 per share, as more fully described in the section titled “Description of Capital Stock—Warrants—New Series B Warrants;” |

| • |     | 2,907,335 shares of common stock reserved for future issuance under our 2025 Plan, which became effective upon                                                                                                                                            
 the execution and delivery of the underwriting agreement for this offering (of which we will grant certain options to purchase shares of common stock at an exercise price equal to the initial public offering price, as described in the section titled 
 “Executive Compensation—2025 Equity Incentive Plan”), as well as any future automatic annual increases in the number of shares of common stock reserved for issuance under our 2025 Plan, as more fully described in the section titled                   
 “Executive Compensation—Equity Benefit Plans;” and                                                                                                                                                                                                        |

| • |     | 201,000 shares of common stock reserved for future issuance under our ESPP, which became effective upon the                                                                                                                                          
 execution and delivery of the underwriting agreement for this offering, as well as any future automatic annual increases in the number of shares of common stock reserved for future issuance under our ESPP, as more fully described in the section 
 titled “Executive Compensation—Equity Benefit Plans.”                                                                                                                                                                                                |

95

MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS

You should read the following discussion and analysis of our financial condition and results of operations together with our financial statements and the related notes appearing elsewhere in this prospectus. Some of the information contained in this discussion and analysis or set forth elsewhere in this prospectus, including information with respect to our current plans and strategy