How to Take Control on Your business through this: Lipocine Inc. (NASDAQ: LPCN)
On Wednesday, Lipocine Inc. (NASDAQ: LPCN) stock observed trading -84.70% off 52-week high price. On the other end, the stock has been noted 64.94% away from low price over the last 52-weeks. The stock disclosed a move of 1.40% away from 50 day moving average and -70.57% away from 200 day moving average. Moving closer, we can see that shares have been trading 24.83% off 20-day moving average.
Lipocine Inc. (LPCN) recently reported financial results for the third quarter and nine months ended September 30, 2019, and provided a corporate update.
Third Quarter Ended September 30, 2019 Financial Results
Lipocine stated a net loss of $3.1M, or ($0.12) per diluted share, for the quarter ended September 30, 2019, contrast with a net loss of $2.5M, or ($0.12) per diluted share, in the quarter ended September 30, 2018.
License revenue was $165,000 during the three months ended September 30, 2019 contrast to no license revenue being recognized during the three months ended September 30, 2018. License revenue in 2019 relates to royalty payments received from Spriaso, LLC (“Spriaso”) under a licensing contract in the cough and cold field.
Research and development expenses were $1.7M for the quarter ended September 30, 2019, contrast with $1.4M for the quarter ended September 30, 2018. The increase in research and development expenses was primarily Because of increases in outside service costs related to the ramping up of the LPCN 1144 LiFT Phase 2 clinical study and increases in other research and development costs, offset by reduced contract research organization and outside consulting costs for TLANDO in connection with the completion of the ABPM study and filing of the NDA and a decrease in personnel costs. The decrease in personnel costs primarily relate to reduced stock compensation expense which resulted from the reversal of stock-based compensation expense recorded for the predictable vesting of restricted stock units upon the authorization of TLANDO (before estimated to vest in the fourth quarter of 2019). The decrease in stock-based compensation expense was offset by increased salaries and other personnel expenses.
General and administrative expenses were $1.4M for the quarter ended September 30, 2019, contrast with $0.9M for the quarter ended September 30, 2018. The increase in general and administrative was primarily Because of a raise in legal fees mainly Because of the lawsuit filed against Clarus for patent infringement and increases in other general and administrative expenses, offset by a decrease in personnel costs attributable to the reversal of stock-based compensation expense recorded for the predictable vesting of restricted stock units upon the authorization of TLANDO (before estimated to vest in the fourth quarter of 2019).
As of September 30, 2019, the Company had unrestricted cash, cash equivalents and marketable securities aggregating $11.5M, contrast to $15.3M at December 31, 2018. Additionally, as of September 30, 2019 and December 31, 2018 the Company had $5.0M of restricted cash, which is required to be maintained as cash collateral under the Loan and Security Contract with Silicon Valley Bank until TLANDO is accepted by the FDA.
Nine Months Ended September 30, 2019 Financial Results
Lipocine stated a net loss of $9.7M, or ($0.40) per diluted share, for the nine months ended September 30, 2019, contrast with a net loss of $8.4M, or ($0.40) per diluted share, in the nine months ended September 30, 2018.
License revenue was $165,000 during the nine months ended September 30, 2019 contrast to license revenue of $428,000 during the three months ended September 30, 2018. License revenue in both 2019 and 2018 relates to royalty payments received from Spriaso under a licensing contract in the cough and cold field.
Research and development expenses were $5.6M for the nine months ended September 30, 2019, contrast with $4.3M for the nine months ended September 30, 2018. The increase in research and development expenses was primarily Because of increases in the following costs: contract research organization and outside consulting costs for TLANDO in connection with completion of the ABPM study and the filing of the NDA, increased manufacturing costs for TLANDO, increased outside service costs related to the second quarter initiation of the LPCN 1144 LiFT Phase 2 clinical study, increased outside contract research organization costs related to TLANDO XR (LPCN 1111), increases in miscellaneous other research and development expenses and increased personnel costs. These cost increases were offset by a decrease in personnel costs attributable primarily to the reversal of stock-based compensation expense recorded for the predictable vesting of restricted stock units upon the authorization of TLANDO (before estimated to vest in the fourth quarter of 2019) and reduced contract manufacturing costs for LPCN 1107.
General and administrative expenses were $4.0M for the quarter ended September 30, 2019, contrast with $4.3M for the quarter ended September 30, 2018. The decrease in general and administrative was primarily Because of reduced personnel costs, including reduced salaries and benefits Because of the elimination of our commercial sales and marketing team in 2018, a decrease in severance compensation, and a net decrease in stock-based compensation mainly Because of reversal of stock-based compensation expense recorded for the predictable vesting of restricted stock units upon the authorization of TLANDO (before estimated to vest in the fourth quarter of 2019) and increases in other general and administrative expenses. These decreases in personnel costs and other general and administrative expenses were offset by increases in legal fees mainlyBecause of the lawsuit filed against Clarus for patent infringement and increases in corporate insurance.
LPCN’s shares are at -82.70% for the quarter and driving a -66.17% return over the course of the past year and is now at 37.13% since this point in 2018. Right now the stock beta is 0.22. The average volatility for the week and month was at 16.13% and 11.09% respectively. The USA based company Lipocine Inc. moved with change of -4.02% to $0.53 with the total traded volume of 3335272 shares in recent session versus to an average volume of 1195.57K.
Vivian Moore – Health and Biotech
I am Vivian Moore, I have done my bachelor’s in English literature, and further on I did my master’s in Medicines. My most preferred genre of writing is health and biotech. I have been writing from the past 6 years about articles, web content, and blogs. In my career and education, I like to play along with work. I have also been a teacher in the past for 2 years. I use to teach business and technical writing in a very famous university. However, most recently I am working as an instructor, designer, and training writer. I enjoy socializing a lot. I am a very big extrovert when it comes to nature. A part of all this I enjoy exploring the world and traveling makes me happy.
