Company: LBRX
Filing Date: 2025-08-22
Form Type: S-1
Source: 0001193125-25-186467
Chunk: 156

Company: LB PHARMACEUTICALS INC
Filing Date: 2025-08-22
Form: S-1
Chunk 156
---
 compensation expense of $0.3 million, and (iii) amortization of premiums on investments of $0.2 million. Additionally, we had inflows of $16.2 million due to a change in our net operating assets and liabilities from the year ended December 31, 2023, including a $18.2 million increase in 103

accounts payable and accrued expense primarily related to timing of payments and clinical trial expenses, partially offset by a $1.9 million increase in prepaid expenses primarily related to
advance payments to our CRO for the Phase 2 acute schizophrenia trial.

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-cash items, including the realized gain on marketable securities of $1.0 million, partially offset by non-cash items, 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. Additionally, we had inflows of $3.3 million due to a change in our net operating assets and
liabilities from the year ended December 31, 2023, including a $5.0 million increase in accounts payable and accrued expense related to timing of payments, clinical trial expenses and compensation and termination expenses, partially offset by a
$1.7 million increase in prepaid expenses primarily related to advance payments to our CRO.

Cash used in operating activities for the
year ended December 31, 2023 was $12.1 million, consisting of net loss of $6.3 million and non-cash items, including the change in fair value of conversion feature and warrant derivative
liabilities of $16.3 million and realized gain on marketable securities of $0.3 million, partially offset by non-cash items including: (i) loss on extinguishment of debt of $7.4 million related to
the conversion of the convertible notes in August 2023; (ii) amortization of deferred financing fees related to the convertible notes of $3.9 million; (iii) amortization of premiums on investments, net of $0.4 million; and
(iv) stock-based compensation expense