News to Track: Lipocine Inc. (NASDAQ:LPCN)

Lipocine Inc. (NASDAQ:LPCN) spotted trading -89.42% off 52-week high price. On the other end, the stock has been noted 14.09% away from the low price over the last 52-weeks. The stock changed -12.02% to recent value of $0.37. The stock transacted 1252145 shares during most recent day however it has an average volume of 1.58M shares. The company has 48.68M of outstanding shares and 46.19M shares were floated in the market.

On March 13, 2020, Lipocine Inc. (NASDAQ:LPCN) a clinical-stage biopharmaceutical company, released financial results for the year ended December 31, 2019, and provided a corporate update.

Fourth Quarter and Recent Corporate Highlights

  • Resubmitted the New Drug Application (NDA) in February 2020 for TLANDO™, the Company’s oral testosterone product candidate for testosterone replacement therapy (TRT) in adult males for conditions associated with a deficiency of endogenous testosterone, also known as hypogonadism.
    • The NDA resubmission was made following a Post Action Meeting with the U.S. Food and Drug Administration (FDA) to discuss a potential path forward for TLANDO. The NDA incorporates the reanalysis of existing data based on written feedback from the FDA to address the deficiency from the Complete Response Letter (CRL) received from the FDA in November 2019.
    • The FDA has assigned a Prescription Drug User Fee Act (PDUFA) goal date of August 28, 2020.
  • Continued to actively enroll in the ongoing LPCN 1144 LiFT (Liver Fat intervention with oral Testosterone) Phase 2 clinical study, a paired-biopsy study in confirmed pre-cirrhotic non-alcoholic steatohepatitis (NASH) patients.
    • Top-line liver fat reduction data, as measured by MRI-PDFF at 12 weeks, are expected in the second half of 2020, followed by 36-week biopsy data which are expected by the first half of 2021.
  • Raised $6.0 million in gross proceeds in a registered direct offering of common stock and warrants in February 2020.
  • Raised $6.0 million in gross process in a public offering of common stock and warrants in November 2019.

Its earnings per share (EPS) expected to touch remained -40.70% for this year.

According to the most recent quarter its current ratio was 3.3 that represents company’s ability to meet its current financial obligations. The price moved ahead of -29.66% from the mean of 20 days, -24.25% from mean of 50 days SMA and performed -76.41% from mean of 200 days price. Company’s performance for the week was -35.60%, -18.65% for month and YTD performance remained -5.14%.

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