{"url_path":"/sec/lbrx/10-q/2026/item-2","section_key":"item-2","section_title":"Item 2 Unregistered Sales of Equity Securities and Use of Proceeds.","topic":"sec","document":{"doc_type":"10-Q","doc_date":"2026-05-12","source_url":"https://www.sec.gov/Archives/edgar/data/1691082/0001193125-26-219607-index.html","accession_number":"0001193125-26-219607","cik":"0001691082","ticker":"LBRX","issuer_name":"LB PHARMACEUTICALS INC","edgar_url":"https://www.sec.gov/Archives/edgar/data/1691082/0001193125-26-219607-index.html","primary_entity_key":"0001691082","primary_entity_name":"LB PHARMACEUTICALS INC"},"word_count":461,"has_tables":true,"body_markdown":"Item 2. Unregistered Sales of Equity Securities and Use of Proceeds.\n\nSet forth below is information regarding shares of equity securities sold, and options granted, by us during the three months ended March 31, 2026 that were not registered under the Securities Act.\n\n(a) Unregistered Sales of Equity Securities\n\nOn January 9, 2026, we granted to two employees options to purchase an aggregate of 175,000 shares of our common stock. These options were made as an inducement material to each individual's acceptance of an offer of employment with us in accordance with Nasdaq Listing Rule 5635(c)(4). On March 26, 2026, we filed a registration statement on Form S-8 to register the shares of common stock underlying these inducement awards.\n\nOn February 10, 2026, we granted to an employee an option to purchase 140,000 shares of our common stock. This option was made as an inducement material to such individual's acceptance of an offer of employment with us in accordance with Nasdaq Listing Rule 5635(c)(4). On March 26, 2026, we filed a registration statement on Form S-8 to register the shares of common stock underlying this inducement award.\n\nDuring the three months ended March 31, 2026, warrants covering 68,675 shares were exercised for cash.\n\nNone of the foregoing transactions involved any underwriters, underwriting discounts or commissions, or any public offering. The sales of the above securities were deemed to be exempt from registration under the Securities Act in reliance on Section 4(a)(2) of the Securities Act (and/or Regulation D or Regulation S promulgated thereunder) or Rule 701 promulgated under Section 3(b) of the Securities Act as transactions by an issuer not involving any public offering or pursuant to benefit plans and contracts relating to compensation as provided under Rule 701.\n\nFor additional information regarding the inducement awards, see Note 10 Stock-Based Compensation to our unaudited condensed financial statements included elsewhere in this Quarterly Report on Form 10-Q.\n\n(b) Use of Proceeds From Initial Public Offering\n\nOn September 10, 2025, our registration statement on Form S‑1 was declared effective by the SEC for our IPO. At the closing of our IPO on September 12, 2025, we sold 21,850,000 shares of common stock, which included the exercise in full by Leerink Partners LLC, Piper Sandler & Co. and Stifel, Nicolaus & Company, Incorporated of their over-allotment option to purchase 2,850,000 additional shares, at an initial public offering price of $15.00 per share and received gross proceeds of $327.75 million, which resulted in aggregate net proceeds to us of approximately $302.3 million, after deducting underwriting discounts, commissions and offering‑related transaction costs. There has been no material change in the planned use of proceeds from that described in the final prospectus for our IPO filed with the SEC pursuant to Rule 424(b)(4) under the Securities Act."}