Lipocine (NASDAQ:LPCN) Announces Financial Results for the Quarter Ended September 30, 2024

Lipocine Inc., a biopharmaceutical company specializing in innovative oral delivery technologies for therapeutics, has reported its financial and operational results for the quarter ended September 30, 2024. The company revealed a net loss of $2.2 million, amounting to ($0.44) per diluted share, for the third quarter of 2024. This represents a significant improvement compared to the net loss of $6.7 million, or ($1.27) per diluted share, reported for the same quarter in 2023.

During the third quarter of 2024, Lipocine did not record any revenues. In comparison, in the third quarter of 2023, the company reported a non-cash revenue reversal related to the termination of an agreement. Research and development expenses for the third quarter of 2024 amounted to $1.6 million, a decrease from $2.9 million in the same quarter of 2023. General and administrative expenses remained consistent at $1.0 million for both the third quarters of 2024 and 2023.

As of September 30, 2024, Lipocine disclosed having $19.8 million in unrestricted cash, cash equivalents, and marketable investment securities, compared to $22.0 million at the end of December 31, 2023.

For the nine months ending September 30, 2024, Lipocine reported a net loss of $1.8 million, or ($0.33) per diluted share. This is an improvement from the net loss of $14.1 million, or ($2.72) per diluted share, for the same period in 2023. Revenues for the nine-month period totaled $7.7 million, consisting primarily of licensing revenue and TLANDO royalty revenue.

Lipocine continues to pursue development opportunities for its pipeline candidates, aiming for partnerships and collaborations. The company’s ongoing clinical development candidates include LPCN 1154, LPCN 2401, LPCN 1148, and TLANDO, among others.

Investors and stakeholders can refer to the Form 10-Q filed by Lipocine with the SEC for more detailed information on the company’s financial results and operations.

Lipocine remains committed to leveraging its proprietary technology platform to enhance oral delivery options for therapeutics, focusing on addressing unmet medical needs in various health conditions including CNS disorders and obesity management.

This report contains forward-looking statements subject to inherent uncertainties and risks that may cause actual results to differ materially. The company assumes no obligation to update these forward-looking statements except as required by law.

For further information, interested parties can reach out to Krista Fogarty at (801) 994-7383, or via email at [email protected] for general inquiries or contact PJ Kelleher at (617) 430-7579, or through email at [email protected] for investor-related inquiries.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Lipocine’s 8K filing here.

About Lipocine

Lipocine Inc, a clinical-stage biopharmaceutical company, engages in the research and development for the delivery of drugs for the treatment of central nervous system (CNS) disorders. Its lead product candidate is TLANDO, an oral testosterone replacement therapy (TRT) comprising testosterone undecanoate.