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Lipocine Announces Financial Results for the First Quarter Ended March 31, 2021
SALT LAKE CITY, May 6, 2021 /PRNewswire/ -- Lipocine Inc. (NASDAQ: LPCN), a clinical-stage biopharmaceutical company focused on metabolic and endocrine
About this update from Lipocine Inc.
[{"type":"text","content":"SALT LAKE CITY, May 6, 2021 /PRNewswire/ -- Lipocine Inc. (NASDAQ: LPCN), a clinical-stage biopharmaceutical company focused on metabolic and endocrine disorders, today announced financial results for the first quarter ended March 31, 2021 and provided a corporate update.\n\n \n \n \n \n \n \n\n \nFirst Quarter Recent Corporate Highlights\nAnnounced positive topline results from the Phase 2 LiFT (\"Liver Fat intervention with oral Testosterone\") clinical study, investigating LPCN 1144 in biopsy-confirmed NASH male subjects Both LPCN 1144 treatment arms met the primary endpoint, change in hepatic fat fraction via magnetic resonance imaging proton density fat fraction (\"MRI-PDFF\"), with statistical significance 36-week biopsy data from the LiFT study are expected in August 2021 Continued enrolling patients into an open label extension to the LiFT clinical study in which all patients will have access to LPCN 1144 Announced the publication of results supporting the therapeutic potential of LPCN 1144 in the treatment of non-alcoholic steatohepatitis (\"NASH\") and hepatic fibrosis The results were featured in a paper entitled \"Treatment Potential of LPCN 1144 on Liver Health and Metabolic Regulation in a Non–Genomic, High Fat Diet Induced NASH Rabbit Model\" (Comeglio et al), published in the Journal of Endocrinological InvestigationContinued to evaluate commercial options for TLANDO, our oral testosterone product for testosterone replacement therapy (\"TRT\") in adult males with hypogonadism Posters featuring clinical data on TLANDO™ were presented at the ENDO 2021 Conference Raised gross proceeds of approximately $28.7 million in a public offering of approximately 16.4 million shares of common stockFirst Quarter Ended March 31, 2021 Financial ResultsLipocine reported a net loss of $3.4million, or ($0.04) per diluted share, for the first quarter ended March 31, 2021, compared with a net loss of $5.8 million, or ($0.14) per diluted share, for the first quarter ended March 31, 2020.\nResearch and development expenses were $1.6 million for the first quarter ended March 31, 2021, compared with $2.5 million for the first quarter ended March 31, 2020. The decrease in research and development expenses during the three months ended March 31, 2021 was primarily due to a decrease in contract research organization expense and outside consu...