Commitments and Contingencies	3 Months Ended
Mar. 31, 2026
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	12. Commitments and Contingencies The Company has contracted with various consultants and third parties to assist in pre-clinical research and development and clinical trials work for the Company’s leading drug compounds. The contracts are terminable at any time but obligate the Company to reimburse the providers for any time or costs incurred through the date of termination. Funding Commitments In October 2025, the Company entered into a work order with a third-party contract research organization (“CRO”) to provide services with respect to the Company’s Phase 2 clinical trial of LB-102 for bipolar depression (“Phase 2 trial”). As of March 31, 2026, the Company is committed to fund approximately $0.5 million in additional advances and expects to pay prior to June 30, 2026. In December 2025, the Company entered into a work order with a third-party CRO to provide services with respect to the Company’s Phase 3 clinical trial of LB-102 for schizophrenia (“Phase 3 trial”). As of March 31, 2026, the Company is committed to fund approximately $8.8 million in additional advances and expects to pay prior to June 30, 2026. In December 2025, the Company entered into a work order with a third-party CRO to provide services with respect to the Company’s Open Label Safety and Tolerability Study of LB-102 for schizophrenia. As of March 31, 2026, the Company is committed to fund approximately $6.5 million in additional advances and expects to pay prior to June 30, 2026. The Company contracts in the normal course of business with contract development and manufacturing organizations (“CDMOs”) and other third parties for preclinical research studies and testing and manufacturing services, which are generally cancelable upon prior written notice. Payments due upon cancellation may consist of payments for services provided or expenses incurred, including noncancelable obligations of our service providers, up to the date of cancellation, and may also include termination penalties. As of March 31, 2026, the Company had no outstanding liabilities related to such items. Contingencies In the normal course of business, the Company is subject to loss contingencies, such as legal proceedings and claims arising out of its business. The Company records accruals for such loss contingencies when it is probable that a liability will be incurred, and the amount of loss can be reasonably estimated. The Company, in accordance with this guidance, does not recognize gain contingencies until realized. The Company is not a party to any litigation and does not have contingency reserves established for any litigation liabilities as of March 31, 2026.

Commitments and Contingencies

3 Months Ended

Mar. 31, 2026

Commitments and Contingencies Disclosure [Abstract]

12. Commitments and Contingencies

The Company has contracted with various consultants and third parties to assist in pre-clinical research and development and clinical trials work for the Company’s leading drug compounds. The contracts are terminable at any time but obligate the Company to reimburse the providers for any time or costs incurred through the date of termination.

Funding Commitments

In October 2025, the Company entered into a work order with a third-party contract research organization (“CRO”) to provide services with respect to the Company’s Phase 2 clinical trial of LB-102 for bipolar depression (“Phase 2 trial”). As of March

31, 2026, the Company is committed to fund approximately $0.5 million in additional advances and expects to pay prior to June 30, 2026.

In December 2025, the Company entered into a work order with a third-party CRO to provide services with respect to the Company’s Phase 3 clinical trial of LB-102 for schizophrenia (“Phase 3 trial”). As of March 31, 2026, the Company is committed to fund approximately $8.8 million in additional advances and expects to pay prior to June 30, 2026.

In December 2025, the Company entered into a work order with a third-party CRO to provide services with respect to the Company’s Open Label Safety and Tolerability Study of LB-102 for schizophrenia. As of March 31, 2026, the Company is committed to fund approximately $6.5 million in additional advances and expects to pay prior to June 30, 2026.

The Company contracts in the normal course of business with contract development and manufacturing organizations (“CDMOs”) and other third parties for preclinical research studies and testing and manufacturing services, which are generally cancelable upon prior written notice. Payments due upon cancellation may consist of payments for services provided or expenses incurred, including noncancelable obligations of our service providers, up to the date of cancellation, and may also include termination penalties. As of March 31, 2026, the Company had no outstanding liabilities related to such items.

Contingencies

In the normal course of business, the Company is subject to loss contingencies, such as legal proceedings and claims arising out of its business. The Company records accruals for such loss contingencies when it is probable that a liability will be incurred, and the amount of loss can be reasonably estimated. The Company, in accordance with this guidance, does not recognize gain contingencies until realized. The Company is not a party to any litigation and does not have contingency reserves established for any litigation liabilities as of March 31, 2026.