Company: LBRX
Filing Date: 2025-08-22
Form Type: S-1
Source: 0001193125-25-186467
Chunk: 387

Company: LB PHARMACEUTICALS INC
Filing Date: 2025-08-22
Form: S-1
Chunk 387
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, the Company entered into a new lease agreement for office space in New York, New York totaling approximately 8,900 square feet. The Company received $1.2 million of leasehold improvement incentives associated with the new lease agreement. The term of this lease commenced on June 21, 2024, which is the date the Company obtained control over the leased premises. The lease term continues through March 2032. The Company’s real estate lease agreement includes variable payments that are passed through by the landlord, such as insurance, taxes, and common area maintenance, and payments based on the usage of the asset. Pass-through charges and payments due to changes in usage of the asset are included within variable lease expense. Operating leases are recognized over the lease term and included in general and administrative expenses in the accompanying unaudited condensed statements of operations. Variable lease expenses are recognized in general and administrative expenses in the accompanying unaudited condensed statements of operations as incurred. The Company’s lease agreement does not contain material residual value guarantees, restrictions, or covenants. The Company has no other operating leases recognized on the accompanying unaudited condensed balance sheets. F-48

LB Pharmaceuticals Inc Notes to Condensed Financial Statements (Unaudited) The components of lease expense were as follows for the six months ended June 30, 2025 and 2024 (in thousands):

|                          |     | Six Months Ended 
 June 30,         | 2025 |     |   | 2024 |
|:-------------------------|:----|:-----------------|-----:|:----|:--|-----:|
| Operating lease expense  |     | $                |  268 |     | $ |   44 |
| Short-term lease expense |     |                  |    — |     |   |   71 |
| Variable lease expense   |     |                  |   15 |     |   |    — |
| Total lease expense      |     | $                |  283 |     | $ |  115 |

Short-term lease expense includes expenses related to the Company’s 2018 operating lease agreement for office space in New York City. The lease agreement was month-to-monthand could be terminated by either party with three months’ written notice. The Company terminated the lease effective September 30, 2024. The Company made the policy election to exclude short-term leases from recognition and measurement under ASC 842. Supplemental balance sheet information related to operating leases as of June 30,