Company: LBRX
Filing Date: 2025-07-23
Form Type: DRS/A
Source: 0000950123-25-006557
Chunk: 365

Company: LB PHARMACEUTICALS INC
Filing Date: 2025-07-23
Form: DRS/A
Chunk 365
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 during the years ended December 31, 2024 and 2023 was $0.2 million and less than $0.1 million, respectively. Stock-based compensation related to restricted stock is recorded in the accompanying statements of operations as follows (in thousands):

|                                        |     | Year ended   
 December 31, | 2024 |     |   | 2023 |
|:---------------------------------------|:----|:-------------|-----:|:----|:--|-----:|
| Research and development               |     | $            |    2 |     | $ |   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