LB PHARMACEUTICALS INC New Standards Disclosure

Recently Issued Accounting Pronouncements Not Yet Adopted

In December 2023, the Financial Accounting Standards Board (“FASB”) issued ASU 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures which requires enhanced income tax disclosures, including a tabular rate reconciliation using specified categories with disaggregated information for significant reconciling items that meet a quantitative threshold, and disclosure of income taxes paid disaggregated by federal, state and foreign jurisdictions. For public business entities, the guidance is effective for annual periods beginning after December 15, 2024. As the Company has elected the extended transition period available to emerging growth companies under the JOBS Act, the guidance is effective for the Company for fiscal years beginning after December 15, 2025, and the Company expects to adopt ASU 2023-09 for its fiscal year ending December 31, 2026. Early adoption is permitted. As the standard impacts disclosure requirements only and does not affect recognition or measurement, the Company does not expect adoption to have a material impact on its financial position or results of operations but does expect expanded income tax disclosures upon adoption.

In November 2024, the FASB issued ASU 2024-03 Income Statement—Reporting Comprehensive Income—Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expenses, which requires public business entities to provide disaggregated disclosures of certain income statement expense line items on an annual and interim basis, including the amounts of employee compensation, depreciation, amortization and depletion, and other specified cost categories included in each relevant expense caption. The guidance applies only to public business entities and is effective for annual reporting periods beginning after December 15, 2026, and interim reporting periods beginning after December 15, 2027. Early adoption is permitted. The Company is evaluating the impact the adoption of this guidance will have on its financial statement disclosures.

In December 2025, the FASB issued ASU 2025-11, Interim Reporting (Topic 270): Narrow-Scope Improvements which reorganizes and clarifies the interim disclosure requirements in ASC 270 to improve usability and clarify when interim reporting guidance applies. The ASU also introduces a disclosure principle requiring entities to describe events occurring after the end of the most recent annual reporting period that have a material impact on the interim period. The standard does not change the fundamental nature or quantity of interim disclosures required under GAAP. For public business

entities, the guidance is effective for interim periods within fiscal years beginning after December 15, 2027. For all other entities, the guidance is effective for interim periods within fiscal years beginning after December 15, 2028. As the Company has elected the extended transition period available to emerging growth companies under the JOBS Act, the Company expects to adopt this guidance for interim periods within fiscal years beginning after December 15, 2028. Early adoption is permitted. The Company does not expect adoption to have a material impact on its financial statements or disclosures.