On January 14, Lipocine Inc. (LPCN) stock collapsed in the after-hours to lose 9.49% at 29.36K shares. No news from the company seems to be responsible for the downtrend in the stock.
During the regular session, LPCN stock added 1.59% at its close of $0.9956 on Friday. Soon the stock saw a reversal as it entered the after-hours session. LPCN stock lost $0.09 in the after-hours to reach $0.9011.
More about LPCN and its Movement
The clinical-stage biopharmaceutical company, Lipocine Inc. was founded in 2011. Currently, the company’s 88.29 million outstanding shares trade at a market capitalization of $87.9 million. Moreover, the stock has subtracted 3.34% in the past five days and 8.66% last month. Currently, the stock stands at a year-to-date gain of a minuscule 0.45% while it lost 38.54% last year.
On Friday, the stock traded in the green during the regular session. While there was no news from the company, LPCN entered the red in the after-hours. Hence, the stock suffered a loss of 9.49% in the after-market session on Friday.
Phase 2 Study of LPCN 1148
Recently, the company initiated the Phase 2 proof-of-concept clinical study of LPCN 1148 for the management of liver cirrhosis. Further, it is a multi-center, randomized, placebo-controlled 52-week study in sarcopenic cirrhotic patients who are on the liver transplant list.
Currently, decompensated liver cirrhosis has only one cure of liver transplant, which is a very expensive and time-consuming process.
The study’s endpoints include the following: Firstly, the primary endpoint of the study changes in Skeletal Muscle Index (SMI) from baseline through computed tomography against placebo at week 24. Secondly, measures of frailty, change in waitlist events, myoteatosis, rate of hospital admissions, all-cause mortality, and decompensation events are some of the key secondary endpoints.
On December 22, 2021, LPCN announced the dosing of the first patient in the Phase 2 study. The company expects to provide the primary endpoint topline results from the study in the second half of 2022.
LPCN 1148 is the company’s novel prodrug with the potential of improving liver and muscle function.
Financial Highlights
The company declared its financial results for the third quarter of 2021, on November 10.
In the third quarter of 2021, LPCN had a net loss of $3.1 million ($0.03/share) against $4.3 million ($0.07/share) in Q3 of 2020.
Furthermore, the company ended the quarter with unrestricted cash, cash equivalents, and marketable securities of $38.7 million. As part of licensing agreement with Antares Pharma, the company also received an $11.0 million upfront license fee after the end of the quarter.
