Lipocine Inc. (LPCN) shares surged 11.63% in after-hours on Wednesday, July 14, 2021, and closed the trading at $1.44 per share. Earlier in the morning session on Wednesday, LPCN’s stock lost 2.27% to close Wednesday’s session at $1.29. LPCN shares have risen 4.88% over the last 12 months, and they have moved down 4.44% in the past week. Over the past three months, the stock has lost 12.24%, while over the past six months, it has shed 20.86%.
Let’s have a brief look at its recent developments.
Settlement With Clarus Therapeutics
On July 14, 2021, Lipocine Inc entered into a global settlement and license agreement with Clarus Therapeutics Inc (Clarus) to resolve all outstanding claims in the ongoing intellectual property battle between the two companies as well as the ongoing interference proceeding between the two companies.
Both companies agreed to dismiss the Lipocine Inc. v Clarus Therapeutics, Inc., No 19-cv-622 (WCB) litigation presently pending in the U.S. District Court for the District of Delaware and interference proceedings captioned Clarus Therapeutics, Inc. v. Lipocine Inc., Interference No. 106,128 presently pending in the U.S. Patent and Trademark. The terms of the settlement remain confidential.
Participation in the recent health and investor conferences
Lipocine Inc recently participated virtually at Ladenburg Thalmann Healthcare Conference, which held on July 13-14, 2021.
Earlier, the company took part in The International Liver Congress™ in 2021, the annual meeting of the European Association for the Study of the Liver (EASL), Digital Event, which held on June 23-26, 2021.
Lipocine was present at Raymond James Human Health Innovation Conference which held on June 21-23, 2021, and at Lytham Partners Summer 2021 Investor Conference which held on June 14-16, 2021.
LPCN 1154 IND application cleared by FDA
On June 14, 2021, the U.S. Food and Drug Administration (FDA) cleared Lipocine’s Investigational New Drug Application to initiate a Phase 2 study to evaluate the therapeutic potential of LPCN 1154, an oral neuro-steroid product candidate, for the treatment of postpartum depression in adults.
Clarus Therapeutics won Patent Infringement Case against Lipocine
On May 25, 2021, The U.S. District Court for the District of Delaware granted Clarus Therapeutics’ motion for summary judgment against remaining patents in a patent infringement case brought by Lipocine Inc regarding Clarus’s oral testosterone replacement product, Jatenzo.
The statement gave Clarus an unequivocal win, Judge Bryson found all of the asserted Lipocine patents claims invalid.
Conclusion
The latest settlement with Clarus Therapeutics was the reason behind its gains in the after-hours on Wednesday because investors always take such news as a positive development. We can see LPCN to surge in the coming days.
