$LBPH
Longboard Pharmaceuticals Inc

2022 Q4 Form 10-Q Financial Statement

#000095017022021597 Filed on November 03, 2022

View on sec.gov

Income Statement

Concept 2022 Q4 2022 Q3 2021 Q3
Revenue $0.00 $0.00 $0.00
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $2.534M $2.481M $2.262M
YoY Change 4.45% 9.68% 23.67%
% of Gross Profit
Research & Development $9.193M $9.400M $4.100M
YoY Change 44.36% 129.27% 156.25%
% of Gross Profit
Depreciation & Amortization $1.000K $1.000K
YoY Change 0.0%
% of Gross Profit
Operating Expenses $11.73M $11.88M $6.355M
YoY Change 33.35% 87.0% 149.22%
Operating Profit -$11.88M -$6.355M
YoY Change 87.0% 149.22%
Interest Expense $391.0K $287.0K $23.00K
YoY Change 1529.17% 1147.83%
% of Operating Profit
Other Income/Expense, Net -$9.000K $1.000K -$13.00K
YoY Change 200.0% -107.69%
Pretax Income -$11.35M -$11.60M -$6.345M
YoY Change 29.32% 82.76% 47.87%
Income Tax
% Of Pretax Income
Net Earnings -$11.35M -$11.60M -$6.345M
YoY Change 29.32% 82.76% 148.82%
Net Earnings / Revenue
Basic Earnings Per Share -$0.68 -$0.38
Diluted Earnings Per Share -$0.66 -$0.68 -$376.2K
COMMON SHARES
Basic Shares Outstanding 17.22M 17.22M 17.22M
Diluted Shares Outstanding 17.17M 16.87M

Balance Sheet

Concept 2022 Q4 2022 Q3 2021 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $67.59M $77.32M $112.6M
YoY Change -36.67% -31.31% 56179.5%
Cash & Equivalents $10.78M $18.75M $75.46M
Short-Term Investments $56.81M $58.57M $37.10M
Other Short-Term Assets $2.249M $2.473M $2.740M
YoY Change 35.56% -9.74%
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $69.84M $79.79M $115.3M
YoY Change -35.56% -30.8% 57549.5%
LONG-TERM ASSETS
Property, Plant & Equipment $9.000K $10.00K $16.00K
YoY Change -35.71% -37.5%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $33.00K $33.00K $33.00K
YoY Change 0.0% 0.0%
Total Long-Term Assets $778.0K $867.0K $649.0K
YoY Change 36.97% 33.59%
TOTAL ASSETS
Total Short-Term Assets $69.84M $79.79M $115.3M
Total Long-Term Assets $778.0K $867.0K $649.0K
Total Assets $70.62M $80.66M $115.9M
YoY Change -35.19% -30.44% 57874.0%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.310M $575.0K $891.0K
YoY Change 27.43% -35.47% 791.0%
Accrued Expenses $490.0K $829.0K $231.0K
YoY Change 39.2% 258.87% -76.9%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $8.764M $8.153M $4.021M
YoY Change 60.98% 102.76% 235.08%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $382.0K $469.0K $275.0K
YoY Change 106.49% 70.55%
Total Long-Term Liabilities $382.0K $469.0K $275.0K
YoY Change 106.49% 70.55%
TOTAL LIABILITIES
Total Short-Term Liabilities $8.764M $8.153M $4.021M
Total Long-Term Liabilities $382.0K $469.0K $275.0K
Total Liabilities $9.146M $8.622M $4.296M
YoY Change 62.48% 100.7% 258.0%
SHAREHOLDERS EQUITY
Retained Earnings -$86.10M -$74.80M -$33.40M
YoY Change 104.03% 123.95%
Common Stock $148.3M $147.7M $145.1M
YoY Change 1.8% 1.83%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $61.47M $72.04M $111.7M
YoY Change
Total Liabilities & Shareholders Equity $70.62M $80.66M $115.9M
YoY Change -35.19% -30.44% 57874.0%

Cashflow Statement

Concept 2022 Q4 2022 Q3 2021 Q3
OPERATING ACTIVITIES
Net Income -$11.35M -$11.60M -$6.345M
YoY Change 29.32% 82.76% 148.82%
Depreciation, Depletion And Amortization $1.000K $1.000K
YoY Change 0.0%
Cash From Operating Activities -$9.671M -$9.853M -$6.134M
YoY Change 70.41% 60.63% 490.94%
INVESTING ACTIVITIES
Capital Expenditures $0.00 $0.00 -$13.00K
YoY Change -100.0% -100.0%
Acquisitions
YoY Change
Other Investing Activities $2.145M $882.0K -$9.251M
YoY Change -162.41% -109.53%
Cash From Investing Activities $2.145M $882.0K -$9.264M
YoY Change -162.35% -109.52%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -444.0K 0.000 -2.000K
YoY Change -100.0% -100.22%
NET CHANGE
Cash From Operating Activities -9.671M -9.853M -6.134M
Cash From Investing Activities 2.145M 882.0K -9.264M
Cash From Financing Activities -444.0K 0.000 -2.000K
Net Change In Cash -7.970M -8.971M -15.40M
YoY Change -12.56% -41.75% 13408.77%
FREE CASH FLOW
Cash From Operating Activities -$9.671M -$9.853M -$6.134M
Capital Expenditures $0.00 $0.00 -$13.00K
Free Cash Flow -$9.671M -$9.853M -$6.121M
YoY Change 70.5% 60.97%

Facts In Submission

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DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPositionLessThan12MonthsNumberOfPositions
30
CY2022Q3 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position Less Than12 Months
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPositionLessThan12Months
39423000
CY2020Q4 us-gaap Stockholders Equity Note Stock Split
StockholdersEquityNoteStockSplit
On October 27, 2020, the Company filed an amendment to the Company’s certificate of incorporation to effect a forward stock split of shares of the Company’s common stock on a 2,783-for-1 basis (the “October 2020 Forward Stock Split”). The par value of the common stock was not adjusted as a result of the October 2020 Forward Stock Split. The accompanying financial statements and notes to the financial statements give retroactive effect to the October 2020 Forward Stock Split for the periods presented.
CY2020Q4 us-gaap Stockholders Equity Note Stock Split Conversion Ratio1
StockholdersEquityNoteStockSplitConversionRatio1
2783
CY2021Q1 us-gaap Stockholders Equity Note Stock Split
StockholdersEquityNoteStockSplit
On March 5, 2021, the Company filed an amendment to the Company’s amended and restated certificate of incorporation to effect a forward stock split of shares of the Company’s common stock on a 1.38-for-1 basis (the “March 2021 Forward Stock Split”). Adjustments corresponding to the March 2021 Forward Stock Split were made to the ratio at which the Company’s Series A Preferred Stock were converted into common stock immediately prior to the closing of the IPO. The par value of the common stock and number of shares authorized were not adjusted as a result of the March 2021 Forward Stock Split. All references to common stock, options to purchase common stock, share data, per share data, and related information contained in the financial statements and related footnotes have been retrospectively adjusted to reflect the effect of the March 2021 Forward Stock Split for all periods presented.
CY2021Q1 us-gaap Stockholders Equity Note Stock Split Conversion Ratio1
StockholdersEquityNoteStockSplitConversionRatio1
1.38
CY2022Q3 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-74800000
CY2021Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-42200000
CY2022Q3 us-gaap Cash Cash Equivalents And Short Term Investments
CashCashEquivalentsAndShortTermInvestments
77300000
CY2022Q3 lbph Working Capital
WorkingCapital
71600000
us-gaap Use Of Estimates
UseOfEstimates
<p style="text-indent:0.0%;font-size:10.0pt;margin-top:10.0pt;line-height:1.15;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:bold;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;font-style:italic;min-width:fit-content;">Use of Estimates</span></p><p style="text-indent:4.133%;font-size:10.0pt;margin-top:10.0pt;line-height:1.15;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">The Company’s financial statements are prepared in accordance with GAAP. The preparation of the Company’s financial statements requires the Company to make estimates and assumptions that impact the reported amounts of assets, liabilities and expenses and the disclosure of contingent assets and liabilities in the financial statements and accompanying notes. Such estimates include the accrual of R&amp;D expenses and stock-based compensation. Management evaluates its estimates on an ongoing basis. Estimates are based on the Company’s historical experience, knowledge of current events and actions it may undertake in the future, and actual results may materially differ from these estimates and assumptions.</span></p>
us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<p style="text-indent:0.0%;font-size:10.0pt;margin-top:0.0pt;line-height:1.15;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:bold;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;font-style:italic;min-width:fit-content;">Concentration of Credit Risk</span></p><p style="margin-left:2.32%;text-indent:0.0%;font-size:10.0pt;margin-top:0.0pt;line-height:1.15;font-family:Times New Roman;margin-bottom:0.0pt;margin-right:2.315%;text-align:left;"><span style="color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;"> </span> </p><p style="text-indent:4.133%;font-size:10.0pt;margin-top:0.0pt;line-height:1.15;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">Financial instruments which potentially subject the Company to significant concentration of credit risk consist of cash, cash equivalents and short-term investments. The Company maintains deposits in federally insured financial institutions in excess of federally insured limits and invests in short-term investments with the primary objectives of seeking to preserve principal, achieve liquidity requirements and safeguard funds. Management believes that the Company is not exposed to significant credit risk due to the financial position of the depository institutions in which those deposits are held and the nature, including the credit-ratings, of its short-term investments.</span></p>
CY2021Q3 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
1694687
CY2022Q3 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position Less Than12 Months Accumulated Loss
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPositionLessThan12MonthsAccumulatedLoss
451000
CY2022Q3 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position12 Months Or Longer Number Of Positions
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPosition12MonthsOrLongerNumberOfPositions
7
CY2022Q3 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
9400000
us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
25400000
CY2021Q3 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
4100000
us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
13400000
CY2022Q3 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position12 Months Or Longer
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPosition12MonthsOrLonger
10084000
CY2022Q3 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position12 Months Or Longer Accumulated Loss
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPosition12MonthsOrLongerAccumulatedLoss
465000
CY2022Q3 us-gaap Debt Securities Available For Sale Unrealized Loss Position Number Of Positions
DebtSecuritiesAvailableForSaleUnrealizedLossPositionNumberOfPositions
37
CY2021Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
352000
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OtherEmployeeRelatedLiabilitiesCurrentAndNoncurrent
1200000
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
2370175
CY2022Q3 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
2370175
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
1694687
CY2022Q3 us-gaap Assets Fair Value Disclosure
AssetsFairValueDisclosure
76319000
CY2021Q4 us-gaap Short Term Investments
ShortTermInvestments
40379000
CY2021Q4 us-gaap Assets Fair Value Disclosure
AssetsFairValueDisclosure
76393000
CY2022Q3 us-gaap Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
61486000
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1000
CY2022Q3 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
916000
CY2022Q3 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
60571000
CY2021Q4 us-gaap Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
40543000
CY2021Q4 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Gain Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedGainBeforeTax
0
CY2021Q4 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
164000
CY2021Q4 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
40379000
CY2021Q4 lbph Accrued Taxes
AccruedTaxes
168000
CY2022Q3 lbph Accrued Recruitment Fees Current
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0
CY2021Q4 lbph Accrued Recruitment Fees Current
AccruedRecruitmentFeesCurrent
30000
CY2022Q3 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
95000
CY2022Q3 us-gaap Available For Sale Securities Debt Maturities Within One Year Amortized Cost
AvailableForSaleSecuritiesDebtMaturitiesWithinOneYearAmortizedCost
53115000
CY2022Q3 us-gaap Available For Sale Securities Debt Maturities Within One Year Fair Value
AvailableForSaleSecuritiesDebtMaturitiesWithinOneYearFairValue
52634000
CY2022Q3 lbph Debt Securities Available For Sale Amortized Cost Maturity Allocated And Single Maturity Date After Year One Through Three
DebtSecuritiesAvailableForSaleAmortizedCostMaturityAllocatedAndSingleMaturityDateAfterYearOneThroughThree
8371000
CY2022Q3 lbph Debt Securities Available For Sale Fair Value Maturity Allocated And Single Maturity Date After Year One Through Three
DebtSecuritiesAvailableForSaleFairValueMaturityAllocatedAndSingleMaturityDateAfterYearOneThroughThree
7937000
CY2022Q3 us-gaap Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
61486000
CY2022Q3 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
60571000
CY2022Q3 us-gaap Debt Securities Available For Sale Unrealized Loss Position
DebtSecuritiesAvailableForSaleUnrealizedLossPosition
49507000
CY2022Q3 us-gaap Debt Securities Available For Sale Unrealized Loss Position Accumulated Loss
DebtSecuritiesAvailableForSaleUnrealizedLossPositionAccumulatedLoss
916000
CY2021Q4 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position Less Than12 Months Number Of Positions
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPositionLessThan12MonthsNumberOfPositions
17
CY2021Q4 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position Less Than12 Months
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPositionLessThan12Months
26392000
CY2021Q4 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position Less Than12 Months Accumulated Loss
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPositionLessThan12MonthsAccumulatedLoss
164000
CY2021Q4 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position12 Months Or Longer Number Of Positions
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPosition12MonthsOrLongerNumberOfPositions
0
CY2021Q4 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position12 Months Or Longer
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPosition12MonthsOrLonger
0
CY2021Q4 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position12 Months Or Longer Accumulated Loss
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPosition12MonthsOrLongerAccumulatedLoss
0
CY2021Q4 us-gaap Debt Securities Available For Sale Unrealized Loss Position Number Of Positions
DebtSecuritiesAvailableForSaleUnrealizedLossPositionNumberOfPositions
17
CY2021Q4 us-gaap Debt Securities Available For Sale Unrealized Loss Position
DebtSecuritiesAvailableForSaleUnrealizedLossPosition
26392000
CY2021Q4 us-gaap Debt Securities Available For Sale Unrealized Loss Position Accumulated Loss
DebtSecuritiesAvailableForSaleUnrealizedLossPositionAccumulatedLoss
164000
CY2022Q3 us-gaap Accrued Insurance Current And Noncurrent
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397000
CY2021Q4 us-gaap Accrued Insurance Current And Noncurrent
AccruedInsuranceCurrentAndNoncurrent
0
CY2022Q3 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
143000
CY2021Q4 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
97000
CY2022Q3 lbph Accrued Legal And Accounting Fees Current
AccruedLegalAndAccountingFeesCurrent
147000
CY2021Q4 lbph Accrued Legal And Accounting Fees Current
AccruedLegalAndAccountingFeesCurrent
7000
CY2022Q3 lbph Accrued Computer Related Expenses
AccruedComputerRelatedExpenses
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CY2021Q4 lbph Accrued Computer Related Expenses
AccruedComputerRelatedExpenses
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CY2022Q3 lbph Accrued Taxes
AccruedTaxes
31000
CY2022Q3 us-gaap Stockholders Equity
StockholdersEquity
72037000
CY2020Q4 us-gaap Stockholders Equity
StockholdersEquity
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55795000
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StockIssuedDuringPeriodValueNewIssues
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CY2021Q1 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
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333000
CY2021Q1 us-gaap Net Income Loss
NetIncomeLoss
-5699000
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10000000
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PreferredStockSharesOutstanding
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CY2021Q4 us-gaap Stockholders Equity
StockholdersEquity
103323000
CY2022Q1 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
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571000
CY2022Q1 us-gaap Unrealized Gain Loss On Investments
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CY2022Q1 us-gaap Net Income Loss
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CY2022Q1 us-gaap Stockholders Equity
StockholdersEquity
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699000
CY2022Q2 us-gaap Unrealized Gain Loss On Investments
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CY2022Q2 us-gaap Stockholders Equity
StockholdersEquity
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CY2022Q3 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
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795000
CY2022Q3 us-gaap Unrealized Gain Loss On Investments
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CY2022Q3 us-gaap Net Income Loss
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CY2022Q3 us-gaap Temporary Equity Shares Outstanding
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CY2022Q3 us-gaap Temporary Equity Carrying Amount Including Portion Attributable To Noncontrolling Interests
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CY2021Q1 us-gaap Stockholders Equity
StockholdersEquity
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CY2021Q2 us-gaap Stock Issued During Period Value New Issues
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CY2021Q2 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
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CY2021Q3 us-gaap Stockholders Equity
StockholdersEquity
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CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
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ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
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CY2021 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
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CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
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1272000
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
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us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
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us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
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ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod
270810
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice
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CY2022Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
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us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
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CY2022Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
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262000
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested Number Of Shares
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2355648
CY2022Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Exercisable Weighted Average Exercise Price
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CY2022Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Aggregate Intrinsic Value
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CY2022Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
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CY2022Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
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us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
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CY2022Q3 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Intrinsic Value1
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CY2022Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestExercisableNumber
587089
CY2022Q3 lbph Share Based Compensation Arrangement By Share Based Payment Award Options Subject To Early Exercise Provision Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsSubjectToEarlyExerciseProvisionExercisableNumber
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CY2022Q3 lbph Weighted Average Stock Price
WeightedAverageStockPrice
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CY2021Q3 lbph Weighted Average Stock Price
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lbph Weighted Average Stock Price
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lbph Weighted Average Stock Price
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CY2021Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
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0.0090
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
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0.0209
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.0086
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CY2021Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0.0000
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0.0000
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0.0000
CY2022Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.7568
CY2021Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.7608
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.7522
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.7425
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P6Y1M6D
CY2021Q3 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P5Y10M24D
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P6Y
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
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CY2021Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
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us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
3.05
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
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AllocatedShareBasedCompensationExpense
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us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
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us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
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CY2022Q3 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized
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5500000
us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition1
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1
P2Y8M12D
CY2022Q3 lbph Percentage Of Shares Of Common Stock Outstanding
PercentageOfSharesOfCommonStockOutstanding
0.01
CY2022Q3 us-gaap Common Stock Capital Shares Reserved For Future Issuance
CommonStockCapitalSharesReservedForFutureIssuance
1060017
CY2021Q2 lbph Area Of Office Space
AreaOfOfficeSpace
8681
CY2021Q2 lbph Effective Lease Date
EffectiveLeaseDate
2021-07-01
CY2021Q2 us-gaap Lease Expiration Date1
LeaseExpirationDate1
2023-06-30
CY2021Q2 us-gaap Payments For Rent
PaymentsForRent
29000
CY2021Q2 lbph Percentage Of Increase In Rent
PercentageOfIncreaseInRent
0.045
CY2021Q2 us-gaap Security Deposit
SecurityDeposit
33000
CY2022Q3 us-gaap Payments For Rent
PaymentsForRent
33000
CY2022Q3 lbph Percentage Of Increase In Rent
PercentageOfIncreaseInRent
0.045
CY2021Q2 lbph Payments For Rent Historical
PaymentsForRentHistorical
1000
CY2022Q3 us-gaap Operating Leases Rent Expense Net
OperatingLeasesRentExpenseNet
96000
us-gaap Operating Leases Rent Expense Net
OperatingLeasesRentExpenseNet
289000
CY2021Q3 us-gaap Operating Leases Rent Expense Net
OperatingLeasesRentExpenseNet
95000
us-gaap Operating Leases Rent Expense Net
OperatingLeasesRentExpenseNet
101000
us-gaap Operating Lease Payments
OperatingLeasePayments
275000
us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
554000
CY2022Q3 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
824000
CY2022Q3 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
360000
CY2022Q3 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
469000
CY2022Q3 us-gaap Operating Lease Liability
OperatingLeaseLiability
829000
CY2022Q3 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P2Y2M12D
CY2022Q3 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.097
CY2022Q3 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
94000
CY2022Q3 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
384000
CY2022Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
400000
CY2022Q3 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
878000
CY2022Q3 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
49000
CY2022Q3 us-gaap Operating Lease Liability
OperatingLeaseLiability
829000
us-gaap Defined Contribution Plan Employer Matching Contribution Percent Of Match
DefinedContributionPlanEmployerMatchingContributionPercentOfMatch
0.04
CY2022Q3 us-gaap Pension And Other Postretirement Benefit Expense
PensionAndOtherPostretirementBenefitExpense
58000000
us-gaap Pension And Other Postretirement Benefit Expense
PensionAndOtherPostretirementBenefitExpense
230000000

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