Company: LBRX
Filing Date: 2025-09-08
Form Type: S-1/A
Source: 0001193125-25-197877
Chunk: 395

Company: LB PHARMACEUTICALS INC
Filing Date: 2025-09-08
Form: S-1/A
Chunk 395
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 entered into several amended and restated royalty participation
agreements (the “Amended and Restated Royalty Agreements”) with certain of its investors, co-founders, former directors, and executive officers, none of whom are Series C New Investors. No
consideration was received as part of the Amended and Restated Royalty Agreements. Pursuant to the Amended and Restated Royalty Agreements, the Company is obligated to pay royalties to all of the holders in an aggregate amount up to 2.75% on net
sales arising from LB-102 worldwide through December 31, 2035. Thereafter, the Company is obligated to pay royalties to such holders in an aggregate amount up to 3.25% in perpetuity. Future sales are
defined in these agreements as the gross payments received on total commercial sales of LB-102, whether by the Company or by any licensee of LB-102. As of
December 31, 2024, certain officers of the Company and their affiliates held 1.27% of the future royalties.

Prior to the closing of the Series C
Offering, three of the Company’s Board of Directors were replaced and the Company agreed to pay them a total of $0.2 million as part of their departure.

15. Subsequent Events

The Company evaluated
subsequent events through September 8, 2025, the date these financial statements were available to be issued, and has not identified any events requiring
disclosure except for the following:

In September, 2025, the Company effected a 1-for-27.8874 reverse stock split (the “Stock Split”) of the Company’s issued and outstanding
shares of common stock and warrants and options to purchase common stock. The Stock Split reduced the number of shares of the Company’s issued and outstanding common stock, as well as the numbers of shares reserved and available for future
issuance and underlying outstanding options to purchase common stock. No fractional shares were distributed as a result of the reverse stock split, and stockholders were entitled to a cash payment in lieu of fractional shares. The Stock Split did
not affect the par values per share or total authorized common stock. Accordingly, all shares of common stock and per share amounts for all periods presented in the financial statements have been adjusted retroactively, where applicable, to reflect
the Stock Split.

F-37

LB Pharmaceuticals Inc Condensed Balance Sheets (In thousands, except share and per share data) (Unaudited)