Company: LBRX
Filing Date: 2025-07-23
Form Type: DRS/A
Source: 0000950123-25-006557
Chunk: 152

Company: LB PHARMACEUTICALS INC
Filing Date: 2025-07-23
Form: DRS/A
Chunk 152
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amount of exposure as to maturity and investment type.

Our primary use of cash has been to fund operating expenses, which consist of
research and development and general and administrative expenditures. As we progress through the phases of development of LB-102 and any of our future product candidates, we anticipate that we will incur
increasing losses in future quarters and years compared to historical periods.

101

Cash Flows The following table sets forth a summary of the net cash flow activity for the years ended December 31, 2024 and 2023 (in thousands):

|                                                                       |     | Year Ended December 31, |    2024 |   |     |   |    2023 |   |
|:----------------------------------------------------------------------|:----|:------------------------|--------:|:--|:----|:--|--------:|:--|
| Net cash used in operating activities                                 |     | $                       | (53,052 | ) |     | $ | (12,094 | ) |
| Net cash provided by (used in) investing activities                   |     |                         |  23,234 |   |     |   | (28,010 | ) |
| Net cash provided by financing activites                              |     |                         |  38,315 |   |     |   |  33,679 |   |
| Net increase (decrease) in cash, cash equivalents and restricted cash |     | $                       |   8,497 |   |     | $ |  (6,425 | ) |

Operating Activities Cash used in operating activities for the year ended December 31, 2024 was $53.1 million, consisting of net loss of $ 63.1 million adjusted for non-cashitems, including the realized gain on marketable securities of $1.0 million, partially offset by non-cashitems, including: (i) stock-based compensation expense of $3.1 million; (ii) write off of deferred offering costs of $3.2 million; (iii) change in fair value of the warrant derivative liabilities of $0.9 million; and (iv) lease expense of $0.3 million related to the lease agreement executed in May 2024. The change in our net operating assets and liabilities was primarily due to a $1.7 million increase in prepaid expenses primarily related to advance payments to our CRO, partially offset by a $5.0 million increase in accounts payable and accrued expense related to timing of payments, clinical