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LB Pharmaceuticals Inc, a clinical-stage biopharmaceutical company, develops therapies for the treatment of schizophrenia, bipolar depression, and other neuropsychiatric diseases. Its lead product is LB-102, a small molecule oral product, which is in Phase 3 clinical trial for the treatment of acute schizophrenia; completed Phase 2 clinical trial for the treatment of bipolar I depression; adjunctive treatment of MDD; and in pre-clinical stage for the treatment of LAI formulation. The company was incorporated in 2015 and is headquartered in New York, New York.
5-year financial trends. Figures in USD millions.
Latest fiscal year: 2025
Year-by-year revenue, profitability, and cash flow (USD millions, last 10 years)
| Year | Revenue | EBITDA | Net Profit | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|
| 2025 | $0M | $-30M | $-25M | $-35M | -8.4% | - | - |
| 2024 | $0M | $-65M | $-63M | $-54M | 66.7% | - | - |
| 2023 | $0M | $-1M | $-6M | $-12M | 18.2% | - | - |
| 2022 | $0M | $-12M | $-14M | $-3M | 49.8% | - | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Total Revenue | 0 | 0 | 0 | 0 |
| Operating Expense | 2.81 | 11.38 | 64.83 | 30.40 |
| Operating Income | -2.81 | -11.38 | -64.83 | -30.40 |
| EBITDA | -12.19 | -1.45 | -64.74 | -30.08 |
| EBIT | -12.20 | -1.45 | -64.83 | -30.40 |
| Pretax Income | -14.35 | -6.27 | -63.10 | -25.20 |
| Tax Provision | 0 | 0 | 0 | 0 |
| Net Income | -14.35 | -6.28 | -63.10 | -25.20 |
| Net Income Common Stockholders | -14.35 | -6.28 | -63.10 | -25.20 |
| Total Expenses | 2.81 | 11.38 | 64.83 | 30.40 |
| Interest Expense | 2.15 | 4.83 | 0 | 0 |
| Interest Income | 0.07 | 0.81 | 1.72 | 3.92 |
| Research And Development | 1.35 | 7.84 | 51.17 | 16.74 |
| Selling General And Administration | 1.46 | 3.53 | 13.66 | 13.66 |
| Normalized EBITDA | -2.74 | -10.60 | -64.75 | -31.36 |
| Normalized Income | -6.88 | -15.43 | -63.11 | -26.48 |
| Basic EPS | -4.05 | -1.77 | -17.82 | 0 |
| Diluted EPS | -4.05 | -1.77 | -17.82 | 0 |
| Tax Effect Of Unusual Items | -1.99 | 0 | 0 | 0 |
| Tax Rate For Calcs | 0.21 | 0 | 0 | 0 |
| Total Unusual Items | -9.46 | 9.15 | 0.01 | 1.28 |
| Total Unusual Items Excluding Goodwill | -9.46 | 9.15 | 0.01 | 1.28 |
| Net Income From Continuing Operation Net Minority Interest | -14.35 | -6.28 | -63.10 | -25.20 |
| Reconciled Depreciation | 0 | 0 | 0.09 | 0.32 |
| Net Interest Income | -2.08 | -4.01 | 1.72 | 3.92 |
| Net Income From Continuing And Discontinued Operation | -14.35 | -6.28 | -63.10 | -25.20 |
| Total Operating Income As Reported | -2.81 | -11.38 | -64.83 | -30.40 |
| Diluted Average Shares | 22.44 | 22.44 | 22.44 | 0 |
| Basic Average Shares | 3.54 | 3.54 | 3.54 | 0 |
| Diluted NI Availto Com Stockholders | -14.35 | -6.28 | -63.10 | -25.20 |
| Net Income Including Noncontrolling Interests | -14.35 | -6.28 | -63.10 | -25.20 |
| Net Income Continuous Operations | -14.35 | -6.28 | -63.10 | -25.20 |
| Other Income Expense | -9.46 | 9.12 | 0.01 | 1.28 |
| Other Non Operating Income Expenses | -0.01 | -0.03 | 0 | 0 |
| Special Income Charges | 0 | -7.43 | 0 | 0 |
| Other Special Charges | 0 | 7.43 | 0 | 0 |
| Gain On Sale Of Security | -9.46 | 16.59 | 0.01 | 1.28 |
| Net Non Operating Interest Income Expense | -2.08 | -4.01 | 1.72 | 3.92 |
| Interest Expense Non Operating | 2.15 | 4.83 | 0 | 0 |
| Interest Income Non Operating | 0.07 | 0.81 | 1.72 | 3.92 |
| General And Administrative Expense | 1.46 | 3.53 | 13.66 | 13.66 |
| Other Gand A | 1.46 | 3.53 | 13.66 | 13.66 |
| Operating Revenue | 0 | 0 | 0 | 0 |
Healthcare sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| LB Pharmaceuticals Incthis co. | LBRX | $877M | - | 2.57 | -8.4% | -20.06 |
| Lumexa Imaging Holdings, Inc. | LMRI | $901M | - | 1.54 | -8.0% | 19.62 |
| Sana Biotechnology, Inc. | SANA | $877M | - | 5.39 | -151.8% | -4.57 |
| Bright Minds Biosciences Inc. | DRUG | $872M | - | 10.63 | -14.9% | - |
| Talkspace, Inc. | TALK | $869M |
| 129.75 |
| 7.39 |
| 6.7% |
| 128.51 |
| SELLAS Life Sciences Group, Inc. | SLS | $862M | - | 10.09 | -37.9% | - |
| Janux Therapeutics, Inc. | JANX | $860M | - | 0.89 | -11.9% | 0.55 |
| EVMN | EVMN | $859M | - | 3.66 | -33.5% | -8.93 |
| Theravance Biopharma, Inc. | TBPH | $859M | 8.09 | 2.87 | 35.7% | -296.42 |
| Peer Median | - | 68.92 | 4.52 | -13.4% | -2.01 | |