Lipocine Inc.
Close on Oct 19, 2026
- Market cap
- $12.57M
- P/E (TTM)
- –
- Dividend yield
- –
About Lipocine
Pharmaceutical Preparations, SIC 2834
Lipocine Inc. is a biopharmaceutical company focused on developing oral formulations of poorly bioavailable drugs using its proprietary lipidic delivery technology platform. Its primary development programs target neurological and psychiatric central nervous system disorders, liver disease, and hormone supplementation. The company's approved product is TLANDO, an oral testosterone replacement therapy for adult males with hypogonadism. It also develops pipeline candidates such as LPCN 1154 for postpartum depression, alongside programs for major depressive disorder, essential tremor, epilepsy, and obesity management. Its customers and commercial partners include pharmaceutical companies that license and distribute its products.
The company operates in the United States and has licensing and distribution partnerships spanning the United States, Canada, South Korea, Brazil, and the Gulf Cooperation Council countries. Lipocine maintains its principal executive offices in Salt Lake City, Utah.
Summary of the business section of Lipocine's latest annual report, written by StockData.
Company profile
Company
- Legal name
- Lipocine Inc.
- Headquarters
- Salt Lake City, X1
- Address
- 675 Arapeen Drive, Suite 202 84108
- Phone
- (801) 994-7383
- Employees
- 14, Dec 31, 2025
- Industry
- Pharmaceutical Preparations
- Incorporated in
- Delaware
- Fiscal year ends
- December 31
- Auditor
- Tanner LLP, Salt Lake City, Utah
Stock & identifiers
- Ticker
- LPCN
- Exchange
- Nasdaq
- IPO date
- Nov 27, 2013
- Shares outstanding
- 8M, Aug 3, 2026
- Public float
- $16.40M, Jun 30, 2025
- Filer category
- Non-accelerated filer<br>Smaller reporting company
- Stock splits
- 1-for-17 reverse, Aug 10, 2023; 1-for-17 reverse, May 12, 2023
- SEC CIK
- 1535955
- CUSIP
- 53630X203
- ISIN
- US53630X2036
- LEI
- 549300RXPEQXOJXVBI10
- EIN
- 99-0370688
Executives and directors
Officers and directors who filed ownership reports (Forms 3, 4, 5) in the last two years
| Name | Position | Shares owned |
|---|---|---|
| Mahesh V. Patel | Chief Executive Officer, Director | 349,391 |
| Krista Fogarty | Principal Accounting Officer | 1,727 |
| John W. Higuchi | Director | 274,836 |
| Michael Grissinger | Director | – |
| Jill M. Jene | Director | – |
| Richard Dana Ono | Director | 14,125 |
| Spyros Papapetropoulos | Director | 21,739 |
| Jeffrey Arvin Fink | Director | 6,562 |
CEO pay and shareholder return
Pay versus performance table from the proxy statement
| Fiscal year | CEO total pay | CEO pay actually paid | Other executives (avg) | Value of $100 invested | Peer group |
|---|---|---|---|---|---|
| FY2025 Mahesh Patel | $986.34K | $1.05M | $488.43K | $119 | – |
| FY2024 Mahesh Patel | $761.77K | $754.74K | $377.19K | $72 | – |
| FY2023 Mahesh Patel | $860.34K | $720.11K | $353.39K | $41 | – |
| FY2022 Mahesh Patel | $883.85K | $538.78K | $324.99K | $40 | – |
“Actually paid” adjusts reported pay for changes in the value of equity awards. Shareholder return assumes $100 invested at the start of the measurement period, as disclosed by the company.
Employees
Headcount reported in annual reports
“of December 31, 2025, we had 14 full-time employees, and we also utilize the services of consultants on a regular basis.”
Corporate history
Events identified from SEC filings
| Date | Event | Details |
|---|---|---|
| Dec 7, 2022 | Listing notice | Notice of delisting or failure to satisfy a listing rule (8-K Item 3.01) |
| Jun 10, 2022 | Listing notice | Notice of delisting or failure to satisfy a listing rule (8-K Item 3.01) |
| Jan 14, 2022 | Listing notice | Notice of delisting or failure to satisfy a listing rule (8-K Item 3.01) |
| Dec 27, 2019 | Listing notice | Notice of delisting or failure to satisfy a listing rule (8-K Item 3.01) |
| Jun 29, 2018 | Auditor change | Change in certifying accountant (8-K Item 4.01) |
| Mar 18, 2014 | Listing | Registration of securities on an exchange (Form 8-A) |
| Nov 27, 2013 | IPO | Initial public offering priced (424B4 prospectus) |
| Sep 5, 2013 | Acquisition / sale | Completion of acquisition or disposition of assets (8-K Item 2.01) |
| Jul 31, 2013 | Auditor change | Change in certifying accountant (8-K Item 4.01) |
| Jul 25, 2013 | Acquisition / sale | Completion of acquisition or disposition of assets (8-K Item 2.01) |
| Jul 9, 2013 | Name change | Name changed from MARATHON BAR CORP to Lipocine Inc. |