Company: LBRX
Filing Date: 2025-08-22
Form Type: S-1
Source: 0001193125-25-186467
Chunk: 311

Company: LB PHARMACEUTICALS INC
Filing Date: 2025-08-22
Form: S-1
Chunk 311
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 to certain exceptions, relating to subsequent sales of
shares of our common stock at an issuance price per share that is less than the then-effective exercise price of the Class A Warrants. The warrant holder is not a stockholder and has none of the rights of a stockholder until the warrant is
exercised and the shares of common stock are issued upon exercise.

Class B Warrants

In November 2018 and March 2019, we issued warrants to certain investors to purchase an aggregate of 913,873 shares of our common stock at an
exercise price per share of $2.30, subject to adjustment as set forth in the warrant, or the Class B Warrants. In August 2023, in conjunction with the Series C financing, we modified the outstanding Class B Warrants and reduced the
exercise price to $0.01. As of June 30, 2025, Class B Warrants to purchase up to 882,948 shares of our common stock remained unexercised. The Class B Warrants include a

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cashless exercise feature allowing the holder to receive shares underlying the applicable Class B Warrant in an amount reduced by the aggregate amount of the exercise price that would have
been payable upon exercise of the applicable Class B Warrant for such shares. Each Class B Warrant became exercisable in May 2022 and will remain exercisable until the 10 anniversary
from its issuance date. The Class B Warrants include anti-dilution protection provisions, subject to certain exceptions, relating to subsequent sales of shares of our common stock at an issuance price per share that is less than the
then-effective exercise price of the Class B Warrants. The warrant holder is not a stockholder and has none of the rights of a stockholder until the warrant is exercised and the shares of common stock are issued upon exercise.

Series B-1Warrants

In May 2022, we issued warrants to certain investors to purchase 103,915 shares of our common stock at an exercise price per share of $3.75,
subject to adjustment as set forth in the warrant, or the Series B-1 Warrants. In August 2023, in conjunction with the Series C financing, we modified the outstanding Series
B-1 Warrants, reducing the exercise price to $0.01. As of June 30, 2025, Series B-1 Warrants to purchase up to 71,761 shares of our common stock remained
unexercised.