(Incorporated in Delaware) 

We are a clinical-stage biopharmaceutical company developing novel therapies to treat schizophrenia, bipolar depression, and other neuropsychiatric diseases. We are building a pipeline that leverages the broad therapeutic potential of our lead product candidate, LB-102, which we believe has the potential to be the first benzamide antipsychotic drug approved for neuropsychiatric disorders in the United States. LB-102 is a new chemical entity and a methylated derivative of amisulpride, a second-generation antipsychotic drug approved in over 50 countries, not including the United States, because the development and regulatory requirements of the U.S. Food and Drug Administration, or FDA, for amisulpride were incompatible with patent coverage on the drug. Amisulpride is a generic drug that has been extensively used in clinical practice following its initial approval in France in the 1980s, generating at least 2 million monthly prescriptions in 2023 in a subset of 16 continental European countries.

Our product candidate, LB-102, is a Phase 3-ready oral, small molecule for the treatment of acute schizophrenia, defined as a sudden and severe episode of psychotic symptoms, characterized by hallucinations, delusions, and other positive symptoms. Schizophrenia is a chronic severe, complex and debilitating psychiatric disorder that affects about 1 percent of the U.S. population. It is a leading cause of disability.

We expect to start a Phase 3 trial in the first quarter of 2026.

Note: Net loss is for the 12 months that ended June 30, 2025. The company has not generated any product revenue, the prospectus said.

(Note: LB Pharmaceuticals upsized its IPO at pricing to 19 million shares – up from 16.67 million shares in the prospectus – and priced the IPO at $15.00 – the mid-point of its $14.00-to-$16.00 price range – to raise $285 million on Wednesday night, Sept. 10, 2025. Background: LB Pharmaceuticals disclosed the terms for its IPO on Sept. 8, 2025, in an S-1/A filing: 16.67 million shares at a price range of $14.00 to $16.00 to raise $250.05 million, if priced at the $15.00 mid-point of its range. Background: LB Pharmaceuticals filed its S-1 for its IPO on Aug. 22, 2025, without disclosing the terms. Estimated initial proceeds were $100 million.)