8-K Announcements
6Material company update
May 18, 2026·SEC
Material company update
May 7, 2026·SEC
Material company update
May 7, 2026·SEC
Lipocine Inc.(LPCN)Earnings, Financials & Key Ratios
LPCN•NASDAQ
$2.47
Price updated Jul 7, 2026
AboutLipocine Inc., a clinical-stage biopharmaceutical company, focuses on the development of pharmaceutical products for the treatment of neuroendocrine and metabolic disorders. The company's primary development programs are based on oral delivery solutions for poorly bioavailable drugs. Its lead product candidate is TLANDO, an oral testosterone replacement therapy. The company's pipeline candidates also include LPCN 1144, an oral prodrug of bioidentical testosterone that has completed Phase II clinical trial for the treatment of non-cirrhotic non-alcoholic steatohepatitis; LPCN 1111, an oral prodrug of testosterone tridecanoate for once daily dosing, which has completed Phase II clinical trial in hypogonadal men; LPCN 1148, a novel prodrug of testosterone and testosterone laurate for the management of decompensated cirrhosis; LPCN 1154, an investigational new drug application to conduct a Phase 2 study in Postpartum depression; LPCN 2101 for women with epilepsy, which has completed pre-clinical study; and LPCN 1107, an oral hydroxyprogesterone caproate product that has completed dose finding Phase II clinical trial for the prevention of recurrent preterm birth. The company is headquartered in Salt Lake City, Utah.Show more
- Revenue$2M-82.3%
- EBITDA-$10M-825.6%
- Net Income-$10M-115371.9%
- EPS (Diluted)-1.69-105525.0%
- Gross Margin-334.26%-434.3%
- EBITDA Margin-521.61%-5143.7%
- Operating Margin-524.69%-4986.9%
- Net Margin-487.05%-652988.7%
- ROE-54.28%-134450.7%
LPCN Price & Volume
Lipocine Inc. (LPCN) stock price & volume — 10-year historical chart
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Persistent Revenue Volatility Masks Structural Liquidity Risks
Investment Thesis • Updated 2026Q1
VerdictNegative
Growth:Contracting
Profitability:Negative
Financial:Vulnerable
Cash Flow:Burning
Primary Risk:Imminent liquidity and dilution
Key Thesis Takeaways
- Lipocine's reliance on non-recurring milestone payments creates an unstable financial profile, as evidenced by the revenue collapse from $7.6 million in 2024Q1 to $119.4K in 2026Q1.
- The company faces significant capital constraints with a $213.1 million accumulated deficit, necessitating potential future dilution to fund ongoing R&D operations.
- Investors should remain cautious as the lack of a sustainable commercial model continues to drive persistent operating losses and cash burn.
Verdict Logic
the company's inability to generate sustainable cash flow, evidenced by a $2.3 million negative operating cash flow in 2026Q1, suggests imminent dilution risk for shareholders.
LPCN Growth Metrics
Lipocine Inc. (LPCN) revenue, earnings & EPS growth — 3, 5 & 10-year CAGR
Revenue CAGR
10 Years-
5 Years-
3 Years58.12%
TTM-45.52%
Profit CAGR
10 Years-
5 Years-
3 Years-
TTM-112.93%
EPS CAGR
10 Years-
5 Years-
3 Years-
TTM-94.06%
Return on Capital
10 Years-55.09%
5 Years-29.51%
3 Years-42.61%
Last Year-58.47%
LPCN Recent Earnings
Lipocine Inc. (LPCN) EPS & revenue vs analyst estimates — last 4 quarters
●Beat EPS 6/12 qtrs (50%)●Beat Revenue 3/12 qtrs (38%)
Q2 2026Latest
May 7, 2026Metric
Actual
Est
EPS
$0.54-5.9%
$0.51
Rev
$119,397-26.5%
$162,500
Q2 2026
Mar 9, 2026Metric
Actual
Est
EPS
$0.34+43.3%
$0.60
Rev
$1M+867.8%
$116,000
Q4 2025
Nov 6, 2025Metric
Actual
Est
EPS
$0.59-5.4%
$0.56
Rev
$114,574-51.9%
$238,000
Q3 2025
Aug 5, 2025Metric
Actual
Est
EPS
$0.41+0.0%
$0.41
Rev
$622,849+161.7%
$238,000
| Quarter | Date | EPS (Act vs Est) | Revenue (Act vs Est) |
|---|---|---|---|
| Q2 2026Latest | May 7, 2026 | $0.54vs $0.51-5.9% | $119,397vs $162,500-26.5% |
| Q2 2026 | Mar 9, 2026 | $0.34vs $0.60+43.3% | $1Mvs $116,000+867.8% |
| Q4 2025 | Nov 6, 2025 | $0.59vs $0.56-5.4% | $114,574vs $238,000-51.9% |
| Q3 2025 | Aug 5, 2025 | $0.41vs $0.41+0.0% | $622,849vs $238,000+161.7% |
Based on last 12 quarters of dataView full earnings history →
Peers Comparison
Key metrics vs top competitors for Lipocine Inc. (LPCN)
| Company | Price | Market Cap | P/E Ratio | Rev Growth (1Y) | Net Margin | ROE | Div Yield |
|---|---|---|---|---|---|---|---|
| $2.47 | $13.45M | -1.46 | -82.35% | -487.05% | -54.28% | — | |
| $85.99 | $1.95B | 25.90 | 43.78% | 9.71% | 17.32% | — | |
| $1.26 | $80.17M | -3.94 | — | — | -929.28% | — | |
| $5.67 | $1.97B | -9.45 | 698.96% | -102.06% | -44.1% | — | |
| $39.93 | $2.66B | -10.24 | -78.63% | -34596.22% | -50.72% | — | |
| $254.65 | $449.91B | 107.45 | 8.57% | 5.79% | 67.46% | — |
Compare LPCN vs Peers
Lipocine Inc. (LPCN) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.
LPCN SEC Filings & Documents
Lipocine Inc. (LPCN) SEC filings — annual & quarterly reports (10-K, 10-Q)
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LPCN Frequently Asked Questions
Lipocine Inc. (LPCN) stock FAQ — growth, dividends, profitability & financials explained
Growth & Financials
What is Lipocine Inc.'s revenue?
Lipocine Inc. (LPCN) reported $2.0M in revenue for fiscal year 2025.
How fast is Lipocine Inc. growing?
Lipocine Inc. (LPCN) saw revenue decline by 82.3% over the past year.
Is LPCN profitable?
Lipocine Inc. (LPCN) reported a net loss of $11.4M for fiscal year 2025.
Dividend & Returns
What is LPCN's return on equity?
Lipocine Inc. (LPCN) has a return on equity (ROE) of -54.3%. Negative ROE indicates the company is unprofitable.
What is Lipocine Inc.'s free cash flow?
Lipocine Inc. (LPCN) had negative free cash flow of $10.0M in fiscal year 2025, likely due to heavy capital investments.