Company: LBRX
Filing Date: 2025-08-22
Form Type: S-1
Source: 0001193125-25-186467
Chunk: 393

Company: LB PHARMACEUTICALS INC
Filing Date: 2025-08-22
Form: S-1
Chunk 393
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                |    1 |     | $ |    1 |
| General and administrative     |     |                  |    1 |     |   |    1 |
| Total stock-based compensation |     | $                |    2 |     | $ |    2 |

As of June 30, 2025, the Company had unrecognized compensation expense related to such shares of $0.2 million. 11. Restructuring On May 6, 2025, the Company commenced a RIF. This initiative affected several employees, including the Former CFO and the Former CSO. The RIF was designed to streamline operations while ensuring continuity during the transition period. In connection with the RIF, the Company entered into separation agreements with impacted employees that entitle the impacted employees to termination benefits, with benefit terms expiring at various dates through May 30, 2026. These benefits included the continuation of base salary, then in effect, and the payment of monthly premiums for Company-sponsored healthcare coverage. The Former CFO and Former CSO also received accelerated vesting on outstanding stock option awards. See Note 10 Stock-Based Compensationfor additional information on the stock option modifications. The Company expects to incur total restructuring charges of approximately $0.7 million, primarily related to termination benefits, partially offset by a reduction in stock-based compensation expenses. During the six months ending June 30, 2025, the Company recognized $0.2 million in general and administrative expense and $0.5 million in research and development expense in the unaudited condensed statement of operations related to termination benefits under the various separation agreements. The modification of the Former CFO’s and Former CSO’s stock options resulted in a reduction of $0.2 million in stock-based compensation expense included in general and administrative expense and an increase of less than $0.1 million included in research and development expense in the unaudited condensed statement of operations during the six months ended June 30, 2025. All restructuring costs associated with the RIF were recognized in the second quarter of 2025, when the plan was communicated to affected employees and obligations were incurred. The remaining severance payments, which were accrued as of June 30, 2025, are expected to be paid through May 2026. On November 26, 2024, the Company’s chief executive officer (the “Former CEO”) entered into a separation and consulting agreement (“Separation Agreement”), pursuant to which the Former CEO resigned from his role as CEO