Lipocine Inc.

For the period ended Dec 31, 2025. Filed Mar 10, 2026.

About this filing

A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.

FY2025 · Filed Mar 10, 2026

LPCN$1.59-7.6%Stored close · as of Nov 10, 2026

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Contents

Consolidated Statements of Operations and Comprehensive Loss

Consolidated Statements of Operations and Comprehensive Income (Loss)

	Years Ended December 31,
2025 · 2024
Revenues:
License revenue	$1,500,000		$10,900,000
Royalty revenue	476,677		298,144
Total revenues	1,976,677		11,198,144
Operating expenses:
Research and development	8,583,919		7,351,753
General and administrative	3,764,137		5,001,426
Total operating expenses	12,348,056		12,353,179
Operating loss	(10,371,379)		(1,155,035)
Other income:
Interest and investment income	744,074		1,146,902
Unrealized gain on warrant liability	-		17,166
Total other income	744,074		1,164,068
Income (loss) before income tax expense	(9,627,305)		9,033
Income tax expense	(200)		(681)
Net income (loss)	(9,627,505)		8,352
Basic income (loss) per share attributable to common stock	$(1.77)	$	-
Weighted average common shares outstanding, basic	5,448,871		5,338,957
Diluted income (loss) per share attributable to common stock	$(1.69)	$	-
Weighted average common shares outstanding, diluted	5,708,238		5,422,604
Comprehensive income (loss):
Net income (loss)	$(9,627,505)		$8,352
Net unrealized gain (loss) on available-for-sale securities	(4,693)		1,879
Comprehensive gain (loss)	$(9,632,198)		$10,231

ContentsView on SEC.gov

The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.