Deep Track Biotechnology Master Fund, Ltd. - 12 Sep 2025 Form 4 Insider Report for LB PHARMACEUTICALS INC

Reporting relationship: 10%+ Owner
Issuer ticker: LBRX on Nasdaq
Reported as of: 12 Sep 2025
Net transaction value: +$39,999,990
SEC form: 4
Accepted by SEC: 16 Sep 2025, 18:09:13 UTC
Prior SEC filing: 10 Sep 2025
Next SEC filing: 10 Feb 2026
Source filing: View source filing
Reporting owner signature: Deep Track Biotechology Master Fund, Ltd. /s/ David Kroin, Director

Key filing fact

Deep Track Biotechnology Master Fund, Ltd. filed Form 4 for LB PHARMACEUTICALS INC on 16 Sep 2025.

Key facts

This page summarizes Deep Track Biotechnology Master Fund, Ltd.'s Form 4 filing for LB PHARMACEUTICALS INC.
4 reported transactions and 1 derivative row are listed below.
Accepted by SEC: 16 Sep 2025, 18:09.

Change

Previous filing in this sequence was filed on 10 Sep 2025.
Current net transaction value: +$39,999,990.

Research use

This tells you what this filing adds before you inspect full transaction and derivative tables.
You can trace every row back to the original SEC filing document.

Evidence

Filed on Form 4

Ownership activity is grounded in SEC Form 4 disclosures.

View source filing

Reporting Owners (3)

CIK 0002015536 Primary reporting owner

Deep Track Biotechnology Master Fund, Ltd.

Relationship: 10%+ Owner
Address: C/O WALKERS CORPORATE LIMITED, 190 ELGIN AVE, GEORGE TOWN, CAYMAN ISLANDS
Signature: Deep Track Biotechology Master Fund, Ltd. /s/ David Kroin, Director
Signature date: 16 Sep 2025

CIK 0001856083

Deep Track Capital, LP

Relationship: 10%+ Owner
Address: 200 GREENWICH AVE, 3RD FLOOR, GREENWICH
Signature: Deep Track Capital, LP /s/ David Kroin, Managing Member of the General Partner of the Investment Adviser
Signature date: 16 Sep 2025

CIK 0001397513

KROIN DAVID

Relationship: 10%+ Owner
Address: C/O DEEP TRACK CAPITAL, LP, 200 GREENWICH AVE, 3RD FLOOR, GREENWICH
Signature: /s/ David Kroin
Signature date: 16 Sep 2025

Reported non-derivative transactions

Shares, units, or other non-derivative securities reported in this filing.

LBRX transaction

Common Stock

Conversion of derivative security

Transaction value
Shares: +686,138
Change %
Price
Shares after: 686,138
Date: 12 Sep 2025
Ownership: Direct
Footnotes: F1, F2

LBRX transaction

Common Stock

Purchase

Transaction value: $30,000,000
Shares: +2,000,000
Change %: +291%
Price: $15.00
Shares after: 2,686,138
Date: 12 Sep 2025
Ownership: Direct
Footnotes: F2

LBRX transaction

Common Stock

Purchase

Transaction value: $9,999,990
Shares: +666,666
Change %
Price: $15.00
Shares after: 666,666
Date: 12 Sep 2025
Ownership: By Deep Track Special Opportunities Fund, LP
Footnotes: F3

Reported derivative securities

Options, warrants, convertible securities, or similar derivative positions disclosed in the filing.

LBRX transaction Derivative

Series C Preferred Stock

Conversion of derivative security

Transaction value
Shares: -16,666,667
Change %: -100%
Price
Shares after: 0
Date: 12 Sep 2025
Ownership: Direct
Underlying class: Common Stock
Underlying amount: 686,138
Exercise price
Footnotes: F1, F2

^* marks a reported price that did not pass the local price check.

Additional SEC filing notes

Filing notes and footnotes

Explanation of responses 3 footnotes

Footnote F1

Each share of Series C Preferred Stock automatically converted immediately prior to the closing of the Issuer's initial public offering for no additional consideration at a conversion ratio that was dependent upon the initial price per share to the public in the Issuer's initial public offering.

Footnote F2

Represents securities held by Deep Track Biotechnology Master Fund, Ltd. Deep Track Capital, LP is the investment manager of Deep Track Biotechnology Master Fund, Ltd. Mr. David Kroin is the managing member of Deep Track Capital GP, LLC, the general partner of Deep Track Capital, LP., and by virtue of such status may be deemed to be the beneficial owner of the shares owned by Deep Track Biotechnology Master Fund, Ltd. Deep Track Capital, LP and Mr. Kroin disclaim beneficial ownership of such shares except to the extent of their respective pecuniary interests.

Footnote F3

Represents securities held by Deep Track Special Opportunities Fund, LP. Deep Track Capital, LP is the investment manager of Deep Track Special Opportunities Fund LP. Mr. David Kroin is the managing member of Deep Track Capital GP, LLC, the general partner of Deep Track Capital, LP., and by virtue of such status may be deemed to be the beneficial owner of the shares owned by Deep Track Special Opportunities Fund, LP. Deep Track Capital, LP and Mr. Kroin disclaim beneficial ownership of such shares except to the extent of their respective pecuniary interests.