Company: LBRX
Filing Date: 2025-09-08
Form Type: S-1/A
Source: 0001193125-25-197877
Chunk: 157

Company: LB PHARMACEUTICALS INC
Filing Date: 2025-09-08
Form: S-1/A
Chunk 157
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 2 trial of LB-102 in the treatment of patients with acute schizophrenia, the majority of which took place in 2024; and (ii) a $0.6 million decrease in preclinical research expenses related to the completion of preclinical studies in 2024, partially offset by (a) a $0.9 million increase in consulting and other expenses primarily due to engagement of regulatory and industry experts to analyze Phase 2 clinical trial results and planning for future clinical trials; (b) a $0.8 million increase in formulation and CMC expenses due to the scale-up and production of LB-102 to be used for clinical and preclinical development, and (c) a $0.5 million increase in personnel-related expenses primarily due to termination benefits related to the RIF in May 2025, as well as the hiring of the Senior Vice President of Technical Operations in February 2025. General and Administrative Expenses General and administrative expenses were $5.4 million for the six months ended June 30, 2025, compared to $3.1 million for the six months ended June 30, 2024. The increase of $2.3 million was primarily due to: (i) a $0.6 million increase in stock-based compensation primarily related to the grant of 5.1 million stock options to our Chief Executive Officer in November 2024; (ii) a $0.7 million increase in personnel-related costs primarily related to the hiring of our Chief Executive Officer in November 2024 and our Chief Business Officer in February 2025; (iii) a $0.4 million increase in termination benefits related to the RIF in May 2025; and (iv) a $0.3 million increase in market research expense to assess product marketability. Non-operating Income (Expense) Non-operating income was $1.1 million for the six months ended June 30, 2025, compared to $(0.6) million for the six months ended June 30, 2024. The increase of $1.7 million was primarily due to: a $2.3 million increase in the gain (loss) on change in fair value of derivative instruments, resulting from a gain on the change in fair value on warrant liabilities of $0.6 million during 2025 and a $1.7 million loss on the change in fair value of derivative liabilities during 2024, partially offset by a $0.6 million decrease in interest income