Company: LBRX
Filing Date: 2025-08-22
Form Type: S-1
Source: 0001193125-25-186467
Chunk: 371

Company: LB PHARMACEUTICALS INC
Filing Date: 2025-08-22
Form: S-1
Chunk 371
---
 99 |
| General and administrative             |     |              |    1 |     |   |  132 |
| Total stock-based compensation expense |     | $            |    3 |     | $ |  231 |

F-30

LB Pharmaceuticals Inc

Notes to Financial Statements

As of December 31, 2024, the Company had unrecognized compensation expense related to such shares of
$0.2 million.

Warrants

In 2020, in
connection with services provided for the issuance of the 2020 Notes, the Company issued to a placement agent, warrants to purchase the Company’s common stock at an exercise price of $0.01 per share. The number of shares underlying the
warrants was based upon 10% of the value of the 2020 Notes divided by the conversion price of the 2020 Notes upon conversion in the next round of financing or $2.50 upon maturity. As the conversion price could be based on any class of shares, and
the warrants are for common stock the Company determined that the warrants should be equity-classified as there was no obligation for the Company to raise an additional round of equity financing and no other criteria for liability classification
under ASC 718, Stock Compensation,were met. The warrants expire ten years after issuance.

The aggregate grant date fair value of the placement
agent warrants issued in conjunction with the 2020 Notes was $0.6 million. The stock-based compensation cost related to the warrants was treated as a debt issuance cost for the 2020 Notes (see Note 11 Notes).

In May 2022, in connection with the Series B Offering, the Company issued to the placement agent, warrants to purchase 0.03 million shares of the
Company’s common stock that were immediately exercisable at an exercise price of $0.01 per share. The warrants expire ten years after issuance.

From October 2022 to January 2023, in connection with services provided for the issuance of the 2022 Notes, the Company issued to a placement agent, warrants
to purchase the Company’s common stock at an exercise price of $0.01 per share. The number of shares underlying the warrants was based upon 10% of the value of the 2022 Notes divided by the conversion price of the 2022 Notes upon conversion in
the next round of financing or $2.50 upon maturity. As the conversion price could be based on any class of shares, and the warrants are for common