LB Pharmaceuticals SEC Filings

TCG Crossover II and affiliated parties report a passive >5% stake in LB Pharmaceuticals Inc. This Schedule 13G shows that TCG Crossover Fund II, L.P., TCG Crossover GP II, LLC and individual Chen Yu collectively beneficially own 1,745,015 shares, representing 7.8% of LB Pharmaceuticals' common stock based on 22,442,989 shares outstanding as stated in the issuer's prospectus.

The filing identifies shared voting and dispositive power for the reported shares and expressly disclaims an intent to influence control of the issuer. The reporting parties certify the holdings are not intended to change or affect control and provide the reporting entities' and representative's addresses and organizational details.

Commodore Capital entities and two individuals report beneficial ownership of 1,225,000 shares of LB Pharmaceuticals Inc. common stock, representing 5.5% of the outstanding shares based on 22,442,989 shares reported as issued and outstanding. The filing states the Firm (Commodore Capital LP) acts as investment manager to Commodore Capital Master LP and that the Firm's managing partners, Michael Kramarz and Robert Egen Atkinson, exercise investment discretion with respect to these securities. The ownership is reported as shared voting and dispositive power for each filer. A joint filing agreement is attached.

Deep Track reporting persons disclosed multiple transactions in LB PHARMACEUTICALS INC (LBRX) dated 09/12/2025. Series C preferred shares converted immediately prior to the issuer's IPO, producing common stock on a conversion ratio tied to the IPO price. Deep Track Biotechnology Master Fund, Ltd. reported receipt of 686,138 common shares from conversion. The reporting persons also acquired 2,000,000 common shares and 666,666 common shares by purchase at $15.00 per share. After these transactions, Deep Track Biotechnology Master Fund, Ltd. beneficially owned 2,686,138 shares directly and Deep Track Special Opportunities Fund, LP held 666,666 shares indirectly.

Deep Track Special Opportunities Fund, LP reported an initial Form 3 disclosing direct ownership of 666,666 shares of LB Pharmaceuticals Inc. (LBRX). The filing states the reporting entity is managed by Deep Track Capital, LP and that David Kroin, as managing member of the investment manager, may be deemed a beneficial owner of those shares. Affiliates of the reporting person, including Deep Track Biotechnology Master Fund, Ltd and Deep Track Capital, LP, separately filed Section 16 reports and collectively beneficially own in the aggregate more than ten percent of LBRX common stock.

Pontifax Management 4 G.P. (2015) Ltd. reported purchases and conversions of LB Pharmaceuticals Inc. securities on 09/12/2025. The filing shows an automatic conversion of 10,000,000 shares of Series C preferred stock into common stock immediately prior to the issuer's IPO closing, and the reporting person acquired 411,681 shares of common stock via conversion. In a separate transaction the reporting person purchased 1,000,000 shares of common stock at $15.00 per share, bringing total beneficial ownership reported to 1,411,681 shares on an indirect basis through affiliated Pontifax entities. The form is signed by the issuer's CFO on 09/16/2025.

Ran Nussbaum, a director associated with Pontifax entities, reported acquisitions of LB Pharmaceuticals (LBRX) securities on 09/12/2025. The filing shows an automatic conversion of Series C redeemable convertible preferred stock into common stock and a purchase of common shares. Specifically, 10,000,000 shares of Series C preferred were converted immediately prior to the companys IPO closing, and 1,000,000 common shares were acquired at $15.00 per share. After these transactions, the reporting person (through Pontifax-related entities) beneficially owned 1,411,681 common shares, held indirectly. The filing identifies Pontifax (Israel) VI LP and Pontifax (Cayman) VI LP as holders of the underlying securities and notes shared voting and investment power through Pontifax management.

Vida Ventures reporting persons recorded multiple transactions in LB Pharmaceuticals, Inc. (LBRX) on 09/12/2025. Series C preferred shares held by Vida entities converted into common stock immediately prior to the issuer's IPO under a conversion mechanism tied to the IPO price. Vida Ventures III, L.P. reported 547,648 common shares beneficially owned following conversion; Vida Ventures III-A, L.P. reported 1,262 common shares; Vida Ventures Management Co. LLC reported 1,434 common shares.

Additionally, purchases at $15.00 per share were reported: Vida Ventures III, L.P. acquired 332,566 common shares and Vida Ventures III-A, L.P. acquired 767 common shares, bringing Vida Ventures III total to 880,214 and Vida Ventures III-A to 2,029 beneficially owned shares as shown on the form.

LB Pharmaceuticals (LBRX) reports Phase 2 results for LB-102 showing statistically significant improvement on the PANSS overall score at 50 mg, 75 mg and 100 mg versus placebo and a favorable tolerability profile with mostly transient, mild-to-moderate adverse events. The company observed a statistically significant impact on negative symptoms at the 50 mg dose and exploratory post-hoc analyses supported cognitive benefits on CogState testing. Based on end-of-Phase 2 feedback, management believes the Phase 2 trial may serve as one of two pivotal trials and plans a single six-week, three-arm, inpatient, double-blind Phase 3 trial (50 mg, 100 mg, placebo) to start in Q1 2026 with ~400 U.S. patients across ~25 sites, primary endpoint change in PANSS at Day 42, topline data expected H2 2027 and an FDA meeting planned Q1 2028 if results are positive.

The company is also initiating LB-102 development in bipolar depression with a Phase 2 trial planned in Q1 2026 and topline data expected Q1 2028. Financially, recent periods show operating losses (e.g., pro forma net loss figures presented) and the company discloses pro forma as adjusted cash and marketable securities balances consistent with its offering plan to advance LB-102 into Phase 3 and other NDA-enabling studies.