Lipocine Inc.

LPCN

Lipocine Inc.

LPCN

Insider Sentiment (TTM):

Last Purchase:2026-04-07Last Sale:-Shares Purchased (TTM):213,000Shares Sold (TTM):0

Institutional Sentiment:

As of:2026-03-31Institutional Shares Owned:3,118,014Shares Outstanding:6,795,002Institutional Ownership Pct.:45.89%

Earnings Market Reaction:

Filing Date:2026-08-04Price on Filing Date:N/APrevious Close:N/A% Change:N/A

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Financial Statements

10‑Q10‑K

Values in Millions ($)	2026-06-30	2026-03-31	2025-12-31	2025-09-30	2025-06-30	2025-03-31	2024-12-31	2024-09-30	2024-06-30	2024-03-31	2023-12-31	2023-09-30
Assets
Assets Current
Cash And Cash Equivalents At Carrying Value	5	5	5	4	6	3	6	4	6	3	5	4
Available For Sale Securities Debt Securities Curr…	18	20	10	11	12	16	15	16	17	22	17	20
Interest Receivable Current	0	0	0	0	0	0	0	0	0	0	0	0
Contract With Customer Asset Net Current	-	-	-	-	-	-	-	-	-	-	-	0
Prepaid Expense And Other Assets Current	0	0	1	1	0	0	0	1	0	1	1	1
Assets Current	24	25	17	16	18	20	22	21	23	25	23	25
Property Plant And Equipment Net	0	0	0	0	0	0	0	0	0	0	0	0
Other Assets Noncurrent	0	0	0	0	0	0	0	0	0	0	0	0
Assets	24	25	17	16	19	20	23	21	23	25	23	25
Liabilities And Stockhold…
Liabilities Current
Accounts Payable Current	1	2	1	1	0	0	0	0	0	1	1	1
Accrued Liabilities Current	1	1	1	1	1	1	1	1	1	1	1	1
Warrants And Rights Outstanding	-	-	-	-	-	-	-	0	0	0	0	0
Deferred Revenue	0	0	0	0	0	0	0	-	-	-	-	-
Liabilities Current	2	3	3	2	1	1	2	2	2	1	3	2
Liabilities	2	3	3	2	1	1	2	2	2	1	3	2
Stockholders Equity
Common Stock Value	0	0	0	0	0	0	0	0	0	0	0	0
Additional Paid In Capital	238	236	224	221	221	221	221	221	221	220	220	220
Treasury Stock Value	-0	-0	-0	-0	-0	-0	-0	-0	-0	-0	-0	-0
Accumulated Other Comprehensive Income Loss Net Of…	-0	-0	0	0	-0	0	0	0	-0	-0	0	-0
Retained Earnings Accumulated Deficit	-216	-213	-209	-207	-204	-202	-200	-202	-199	-196	-200	-197
Stockholders Equity	22	23	14	14	17	19	21	19	21	24	20	22
Liabilities And Stockholders Equity	24	25	17	16	19	20	23	21	23	25	23	25
Accumulated Depreciation Depletion And Amortizatio…	1	1	1	1	1	1	1	1	1	1	1	1
Common Stock Par Or Stated Value Per Share	0	0	0	0	0	0	0	0	0	0	0	0
Common Stock Shares Authorized	75	75	75	75	200	200	75	200	200	200	200	200
Common Stock Shares Issued	8	7	6	5	5	5	5	5	5	5	5	5
Shares Outstanding	8	7	6	5	5	5	5	5	5	5	5	5
Treasury Stock Common Shares	0	0	0	0	0	0	0	0	-	0	0	0

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10‑Q10‑K

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10‑Q10‑K

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Earnings Market Reaction

10‑Q10‑K

Fiscal Year	Q1 1 Month	Q1 2 Month	Q1 3 Month	Q2 1 Month	Q2 2 Month	Q2 3 Month	Q3 1 Month	Q3 2 Month	Q3 3 Month	Q4 1 Month	Q4 2 Month	Q4 3 Month
2026	-5.86%	2.93%	-12.97%	-	-	-	-	-	-	-	-	-
2025	4.55%	1.76%	6.40%	-5.52%	-11.36%	-5.84%	30.30%	98.11%	313.26%	-74.72%	-71.27%	-72.26%
2024	32.06%	57.25%	5.15%	-16.40%	1.14%	31.44%	-18.78%	-14.85%	-16.10%	-8.79%	1.21%	2.42%
2023	-	-	-	-24.95%	-40.52%	-52.50%	5.62%	12.05%	56.22%	43.25%	32.18%	89.81%
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Performance and Valuation Metrics

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Metrics	2026-06-30	2026-03-31	2025-12-31	2025-09-30	2025-06-30	2025-03-31	2024-12-31	2024-09-30	2024-06-30	2024-03-31	2023-12-31	2023-09-30
Liquidity Ratios
Current Ratio	11.48	9.99	6.68	8.25	12.71	15.64	14.75	12.97	12.56	16.99	8.69	10.98
Quick Ratio	11.39	9.87	6.36	7.90	12.46	15.31	14.44	12.59	12.40	16.60	8.39	10.72
Working Capital	21.67M	22.72M	14.35M	14.00M	16.97M	19.03M	20.81M	18.92M	21.09M	23.83M	20.23M	22.37M
Leverage & Debt
Debt to Equity	0.10	0.11	0.17	0.14	0.08	0.07	0.07	0.08	0.09	0.06	0.13	0.10
Interest Coverage TTM	-	-	-	-	-	-	-	-	-	-	-	-660.53
Debt Ratio	0.09	0.10	0.15	0.12	0.08	0.06	0.07	0.08	0.08	0.06	0.11	0.09
Efficiency & Turnover
Asset Turnover TTM	0.07	0.09	0.10	-0.18	0.20	0.16	0.49	0.69	0.18	0.16	-0.09	-0.11
Per Share Metrics
Diluted EPS TTM	-1.44	-1.68	-1.69	-1.01	-0.84	-1.00	0.00	-0.76	-1.59	-1.67	-3.10	-3.08
Free Cash Flow Per Share TTM	-1.36	-1.48	-1.79	-0.95	-0.95	-1.06	-0.25	-0.94	-0.88	-1.04	-2.25	-2.23
Dividend Per Share TTM	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Margin Metrics
Operating Profit Margin TTM	-800.82%	-605.86%	-524.69%	186.47%	-132.59%	-176.00%	-10.31%	-33.75%	-202.18%	-220.10%	628.98%	494.16%
Net Profit Margin TTM	-755.13%	-571.10%	-487.06%	161.80%	-107.11%	-146.13%	0.07%	-25.86%	-176.80%	-190.35%	573.60%	450.02%
Growth Metrics
Net Revenue Growth (1Y)	-62.70%	-45.52%	-82.35%	-121.58%	-12.35%	-22.00%	-492.80%	-533.04%	8,630.55%	748.91%	-670.16%	-121.20%
Net Income Growth (1Y)	162.94%	112.93%	-115,371.85%	34.99%	-46.90%	-40.12%	-100.05%	-75.12%	-29.61%	-19.50%	51.99%	-498.01%
EPS Growth (1Y)	71.26%	67.60%	-113,046.60%	33.36%	-46.98%	-40.49%	-100.05%	-75.38%	-31.04%	-20.73%	50.90%	-493.69%
Valuation Metrics
P/E TTM	-1.77	-4.75	-4.54	-2.82	-3.75	-3.17	3,119.51	-5.92	-5.19	-3.08	-0.90	-0.97
P/B TTM	0.97	2.38	3.02	1.09	0.99	0.89	1.24	1.26	2.08	1.15	0.72	0.70
P/S TTM	13.40	27.12	22.14	-4.56	4.02	4.63	2.33	1.53	9.17	5.87	-5.16	-4.35
Market Cap	21.04M	54.29M	43.75M	15.43M	16.91M	17.01M	26.05M	24.01M	44.03M	27.64M	14.70M	15.77M
Enterprise Value	16.06M	49.28M	38.55M	11.53M	10.87M	13.65M	19.85M	20.27M	38.48M	24.56M	9.93M	11.70M
Calculated Values
Free Cash Flow TTM	-11.19M	-10.05M	-9.76M	-5.15M	-5.08M	-5.69M	-1.31M	-5.03M	-4.73M	-5.54M	-11.88M	-11.78M
Net Debt	-4.98M	-5.02M	-5.21M	-3.90M	-6.04M	-3.35M	-6.21M	-3.74M	-5.55M	-3.08M	-4.77M	-4.07M
Per-Share and Margin
EPS TTM
Adjusted EPS TTM
Cash Flow Per Share TTM
Pretax Margin TTM
Stock Comp to Revenue TTM
Turnover Ratios and Averages
Average Assets
Average Equity
Average Inventory
Average Receivables
Average Accounts Payables
Inventory Turnover TTM
Payables Turnover TTM
Days Inventory Outstanding TTM
Days Payables Outstanding TTM
Cash Conversion Cycle TTM
Working Capital to Revenue
Deferred Revenue to Revenue
Growth Rates
Total Assets Growth (1Y)
Total Assets Growth (3Y)
Total Assets Growth (5Y)
Dividends Paid Growth (1Y)
Dividends Paid Growth (3Y)
Dividends Paid Growth (5Y)
EPS Growth (3Y)
EPS Growth (5Y)
Net Income Growth (3Y)
Net Income Growth (5Y)
Net Profit Margin Growth (1Y)
Net Profit Margin Growth (3Y)
Net Profit Margin Growth (5Y)
Net Revenue Growth (3Y)
Net Revenue Growth (5Y)
Deferred Revenue Growth (1Y)
Retained Earnings Growth (1Y)
Credit, Liquidity, Returns, Payout
Cash Ratio
Net Working Capital
Debt to EBITDA TTM
Net Debt to EBITDA TTM
Net Debt to Equity
Altman A
Altman B
Altman C
Altman D
Altman E
Altman Z-Score
ROA TTM
ROE TTM
NOPAT TTM
ROIC TTM
Effective Tax Rate TTM
Payout Ratio TTM
Dilution Ratio
Retained Earnings to Equity
Treasury Stock to Equity
Treasury Stock Change (1Y)
Accrued to Current Liabilities
NCAV
NCAV Per Share TTM
Valuation Ratios
P/CF TTM
PEG Ratio
Dividend Yield TTM
Free Cash Flow Yield TTM
EV EBITDA TTM
EV EBIT TTM
EV Revenue TTM
EV FCF TTM
Stock Compensation TTM
Adjusted Net Income TTM
Billings TTM
Total Debt
Invested Capital

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Insider Transactions

2026-04-07Purchase

Owner: Higuchi, John W.

Title: -

Shares: 40,000

Price/Share: $2.03

Value: $81,200.00

Shares Owned: 203,797

Relationship: Director

Ownership: Direct

2026-04-06Purchase

Owner: Higuchi, John W.

Title: -

Shares: 123,000

Price/Share: $2.05

Value: $252,150.00

Shares Owned: 163,797

Relationship: Director

Ownership: Direct

2026-04-06Purchase

Owner: Patel, Mahesh V.

Title: Chief Executive Officer

Shares: 25,000

Price/Share: $2.03

Value: $50,750.00

Shares Owned: 160,679

Relationship: Director,Officer

Ownership: Direct

2026-04-02Purchase

Owner: Patel, Mahesh V.

Title: Chief Executive Officer

Shares: 25,000

Price/Share: $2.02

Value: $50,500.00

Shares Owned: 135,679

Relationship: Director,Officer

Ownership: Direct

2023-05-25Purchase

Owner: Patel, Mahesh V.

Title: CEO and President

Shares: 8,706

Price/Share: $5.03

Value: $43,791.18

Shares Owned: 107,418

Relationship: Director,Officer

Ownership: Direct

Filed Date	Owner	Relationship	Title	Ownership	Purchase/Sale	No. Shares	Price Per Share	Value	Shares Owned	Document Type
2026-04-07	Higuchi, John W.	Director	-	Direct	Purchase	40,000	2.03	$81,200.00	203,797	4
2026-04-06	Higuchi, John W.	Director	-	Direct	Purchase	123,000	2.05	$252,150.00	163,797	4
2026-04-06	Patel, Mahesh V.	Director,Officer	Chief Executive Officer	Direct	Purchase	25,000	2.03	$50,750.00	160,679	4
2026-04-02	Patel, Mahesh V.	Director,Officer	Chief Executive Officer	Direct	Purchase	25,000	2.02	$50,500.00	135,679	4
2023-05-25	Patel, Mahesh V.	Director,Officer	CEO and President	Direct	Purchase	8,706	5.03	$43,791.18	107,418	4
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Institutional Ownership

No data available for chart

2026-03-31

45.89%

Inst. Shares: 3,118,014

Shares Outstanding: 6,795,002

2025-12-31

29.91%

Inst. Shares: 1,629,982

Shares Outstanding: 5,448,871

2025-09-30

9.78%

Inst. Shares: 529,307

Shares Outstanding: 5,413,149

2025-06-30

9.70%

Inst. Shares: 518,953

Shares Outstanding: 5,351,957

2025-03-31

9.68%

Inst. Shares: 517,473

Shares Outstanding: 5,348,557

Date	Institutional Shares Owned	Shares Outstanding	Institutional Ownership %
2026-03-31	3,118,014	6,795,002	45.89%
2025-12-31	1,629,982	5,448,871	29.91%
2025-09-30	529,307	5,413,149	9.78%
2025-06-30	518,953	5,351,957	9.70%
2025-03-31	517,473	5,348,557	9.68%
2024-12-31	486,671	5,338,957	9.12%
2024-09-30	544,524	5,347,940	10.18%
2024-06-30	531,604	5,343,922	9.95%
2024-03-31	452,789	5,315,830	8.52%
2023-12-31	465,019	5,269,671	8.82%
2023-09-30	483,465	5,292,058	9.14%
2023-06-30	466,221	5,234,830	8.91%
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Lipocine Inc. (LPCN) — SEC Financial Statements & Analysis

Lipocine Inc. (LPCN) is a pharmaceutical preparations company, incorporated in DE. Lipocine Inc. trades on Nasdaq as: LPCN. Based on its latest SEC filing (Form 10-Q, period ending 2026-06-30), Lipocine Inc. reported a -62.70% year-over-year revenue growth, a Debt-to-Equity ratio of 0.10x, a Price-to-Sales (P/S) ratio of 13.40x (TTM), a Price-to-Book (P/B) ratio of 0.97x (TTM), at a market cap of $21.04M. Figures below are sourced from SEC EDGAR, as-filed.

Net Revenue TTM Growth 1Y: -62.70%
Debt To Equity: 0.10x
P/S TTM: 13.40x
P/B TTM: 0.97x
Market Cap: $21.04M

Data as of 2026-06-30 · Source: SEC EDGAR

Frequently Asked Questions

What industry is Lipocine Inc. in?

Lipocine Inc. (LPCN) operates in the Pharmaceutical Preparations industry.

What is LPCN's market cap?

Lipocine Inc. (LPCN) has a market capitalization of $21.04M as of 2026-06-30.

What exchange does LPCN trade on?

Lipocine Inc. (LPCN) trades on the Nasdaq.

Where is Lipocine Inc. incorporated?

Lipocine Inc. is incorporated in DE.

Lipocine Inc.

Financial Statements

Custom Table

Interactive Financial Visualizations

Earnings Market Reaction

Performance and Valuation Metrics

Insider Transactions

Institutional Ownership

Lipocine Inc. (LPCN) — SEC Financial Statements & Analysis

Frequently Asked Questions

Companies in Pharmaceutical Preparations

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Lipocine Inc. (LPCN) — SEC Financial Statements & Analysis

Frequently Asked Questions

Companies in Pharmaceutical Preparations

Wall Street's data.Main Street's price.

Wall Street's data.
Main Street's price.