On Thursday Lipocine Inc. (NASDAQ:LPCN) stock price moved downward at -41.55%. Its total market capitalization is $10160800. Its day lowest price was $0.38 and its hit its day highest price at $0.45. The stock recent volume is 4968363 shares in comparison to its average trading volume of 507084 shares. Looking at the stock’s price level on the past 52-week graph, LPCN recorded a 52-week high of $3.45 and its 52-week low of $0.38.
On Nov. 14, 2019, Lipocine Inc. (NASDAQ:LPCN) a clinical-stage biopharmaceutical company focused on metabolic and endocrine disorders, released the pricing of a public offering of (i) 10,450,000 Class A Units, each consisting of shares of its common stock and common warrants to purchase its common stock, and (ii) 1,550,000 Class B Units, each consisting of pre-funded warrants and warrants to purchase its common stock, at a price of $0.50 per Class A Unit and $0.4999 per Class B Unit. Gross proceeds to the Company are expected to be approximately $6.0 million, before deducting placement agent fees and other estimated offering expenses. The Company intends to use the net proceeds from this offering for working capital and general corporate purposes.
About Lipocine
Lipocine Inc. is a clinical-stage biopharmaceutical company focused on metabolic and endocrine disorders using its proprietary drug delivery technologies. Lipocine’s clinical development pipeline includes TLANDO, LPCN 1144, TLANDO XR (LPCN 1111), LPCN 1148 and LPCN 1107. TLANDO, a novel oral prodrug of testosterone containing testosterone undecanoate, is designed to help restore normal testosterone levels in hypogonadal men. Lipocine received a complete response letter from the FDA related to TLANDO on November 8, 2019. LPCN 1144, an oral product of bioidentical testosterone, recently completed a proof-of-concept clinical study demonstrating the potential utility in the treatment of pre-cirrhotic NASH. TLANDO XR, a novel oral prodrug of testosterone, originated and is being developed by Lipocine as a next-generation oral testosterone product with potential for once-daily dosing. In a phase 2 clinical evaluation when administered as once daily or twice daily TLANDO XR met the typical primary and secondary end points. LPCN 1148 is an oral prodrug of bioidentical testosterone targeted for the treatment of NASH cirrhosis. LPCN 1107 is potentially the first oral hydroxyprogesterone caproate product candidate, with end of phase 2 meeting completed, indicated for the prevention of recurrent preterm birth and has been granted orphan drug designation by the FDA.
Marcus Miller writes for Finance section of website. He has been a freelance journalist for 8 years, contributing to different online publications. Marcus graduated from University with a BBA in Management with a concentration in Consulting and Business Analysis. In his free time, he likes to indulge in outdoor activities, binge watch HBO GO series and catch local bands playing. He is currently based in USA, and can be reached at [email protected].
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