Company: LBRX
Filing Date: 2025-09-08
Form Type: S-1/A
Source: 0001193125-25-197877
Chunk: 398

Company: LB PHARMACEUTICALS INC
Filing Date: 2025-09-08
Form: S-1/A
Chunk 398
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 as of and for the year ended December 31, 2024, and the notes thereto. During the six months ended June 30, 2025, there were no material changes to the Company’s significant accounting policies.

Segment Information

The Company operates as a
single reportable segment in the development of novel therapies for the treatment of neuropsychiatric diseases, including schizophrenia. The Company has not generated revenues since inception. The Company’s chief operating decision maker
(“CODM”) is its Chief Executive Officer (“CEO”). The CODM reviews the Company’s performance on an aggregate basis, thus the segment’s loss is the Company’s net loss, as reported on accompanying condensed
statements of operations, and the segment’s assets are the Company’s total assets, as reported on the accompanying condensed balance sheets. Significant expenses provided to the CODM include research and development and general and
administrative expenses, as reported on the accompanying condensed statements of operations.

The CODM uses the information primarily to evaluate the
Company’s performance and allocate resources. This includes reviewing key financial metrics such as budget versus actual expenditures and assessing overall cash flow and liquidity to ensure the continuity of operations. This approach allows
the CODM to monitor the Company’s performance and make strategic adjustments as needed to support its operational and financial goals.

The
Company’s operations and all long-lived assets are located in the United States.

Recently Issued Accounting Pronouncements Not Yet Adopted

In December 2023, the FASB issued ASU 2023-09 Income Taxes (Topic 740): Improvements to Income Tax Disclosuresthat requires public entities to annually disclose specific categories in the rate reconciliation and provide additional information for reconciling items that meet a quantitative threshold. The guidance is effective for fiscal years
beginning after December 15, 2024 and early adoption is permitted. The Company is evaluating the guidance to determine if adoption will have a material impact on the financial statement disclosures.

In November 2024, the FASB issued ASU 2024-03 Income Statement—Reporting Comprehensive Income—Expense Disaggregation Disclosures (Subtopic 220-40):Disaggregation of Income Statement Expenses,that requires public companies to provide more detailed disclosures to provide greater transparency about the
components of specific expense categories. The guidance is effective for years beginning after

F-44

LB Pharmaceuticals Inc Notes to Condensed Financial Statements (Unaudited) December 15, 2026, and interim periods within annual periods beginning after December 15,