Home / Going-concern warnings / LB PHARMACEUTICALS INC
Filed 2025-11-06 路 Form 10-Q 路 Accession 0001193125-25-268174 small
Price before filing: $16.2 (2025-11-05 close, split/dividend-adjusted)
Market cap at flag: $392.4M (2025-11-06) 路 Latest: $1.11B (2026-10-16)
| Window | LBRX | SPY | vs SPY | |
|---|---|---|---|---|
| 30 days | +38.9% | +0.9% | +38.0% | 2025-12-08 |
| 90 days | +30.7% | +1.6% | +29.1% | 2026-02-04 |
| 180 days | +103.0% | +7.4% | +95.5% | 2026-05-05 |
Return from the last close before the filing date to the first close on/after the window end. Pending windows have not fully elapsed. Past performance says nothing certain about the future.
90 days before the flag: 4 insiders bought $75.0M (6 purchases)
30 days after: none reported.
| Date | Insider | Type | Shares | Price | Value | 10b5-1 plan | Source |
|---|---|---|---|---|---|---|---|
| 2025-09-12 | Deep Track Biotechnology Master Fund, Ltd. (+2 joint filers) 10% owner | Purchase | 2,000,000 | $15.00 | $30.0M | no | Form 4 |
| 2025-09-12 | Deep Track Biotechnology Master Fund, Ltd. (+2 joint filers) 10% owner | Purchase | 666,666 | $15.00 | $10.0M | no | Form 4 |
| 2025-09-12 | Nussbaum Ran Director | Purchase | 1,000,000 | $15.00 | $15.0M | no | Form 4 |
| 2025-09-12 | Pontifax Management 4 G.P. (2015) Ltd. 10% owner | Purchase | 1,000,000 | $15.00 | $15.0M | no | Form 4 |
| 2025-09-12 | Vida Ventures GP III, L.L.C. (+4 joint filers) 10% owner | Purchase | 332,566 | $15.00 | $5.0M | no | Form 4 |
| 2025-09-12 | Vida Ventures GP III, L.L.C. (+4 joint filers) 10% owner | Purchase | 767 | $15.00 | $12K | no | Form 4 |
| 2025-11-06: red flag filed | |||||||
Open-market purchases and sales (Form 4 codes P and S) by officers, directors and 10% owners, by transaction date, from 2025-08-08 to 2025-12-06. Excludes option exercises, grants, gifts and tax withholding. Amended filings replace the originals; joint filings count once. Foreign private issuers do not file Form 4. Many insider sales are pre-scheduled (10b5-1 plans) and are not by themselves a sign of wrongdoing.
"In prior periods, these factors raised substantial doubt about the Company's ability to continue as a going concern."
Quoted from the filing. Source
The filing states that substantial doubt exists about the company's ability to continue as a going concern: it may not have enough cash to last the next 12 months. Expect dilution, debt deals or worse. An auditor's going-concern paragraph is the strongest form of this warning.
Source: management disclosure in Form 10-Q (period 2025-09-30)
Why this score: quarterly (unaudited) disclosure
Read the original filing on SEC.gov →
Not investment advice. Automated summary; verify against the filing.
The week's most serious auditor changes, restatements, late filings and going-concern warnings, in plain English. Free. Unsubscribe anytime.
Subscribe to the newsletter →
The signup form didn't load here (often an ad or privacy blocker). This opens beehiiv's secure signup page.
Form not showing? Subscribe on beehiiv →
Newsletter delivered by beehiiv. See our privacy policy.