Lipocine (LPCN)
Develops oral therapies and licenses approved testosterone product TLANDO to commercialization partners.
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Develops oral drug formulations and earns approved-product economics through licenses, supply, and distribution arrangements, with TLANDO providing its approved testosterone therapy. The single-segment business depends on partners for commercial execution while it advances a broader therapeutic pipeline.
Develops lipid-based oral formulations that aim to make established or biologically validated active ingredients available as patient-friendly therapies. The company commercializes approved testosterone therapy TLANDO through licensing and related supply or distribution arrangements rather than a broad direct-sales infrastructure.
Its development portfolio spans postpartum depression, major depressive disorder, epilepsy, essential tremor, liver cirrhosis, obesity management, and prevention of preterm birth. This creates exposure to neuropsychiatric, endocrine and metabolic, liver-disease, and women’s-health markets while oral delivery remains the operating focus.
TLANDO’s U.S. commercial execution depends on Verity Pharma; other territories rely on separate arrangements, and candidates require clinical, regulatory, manufacturing, vendor, partner, and financing support. The company operates as a single biopharmaceutical development and licensing business.
Company facts
Target rangeAs of Sep 22, 2026
Latest analyst notes
| Date | Firm | Action | Prior | Current |
|---|---|---|---|---|
| Sep 22, 2026 | H.C. Wainwright | Target | Target: $15 | Target: $4 |
| Apr 13, 2026 | Industrial Alliance Securities | Target | Target: $10 | Target: $6 |
| Apr 6, 2026 | HC Wainwright & Co. | Downgrade | ||
| Jan 21, 2026 | H.C. Wainwright | Target | Target: — | Target: $15 |
EPSReportedEstimate
RevenueReportedEstimate
Balance sheet, Jun 30, 2026Cash & short-term investments $23.3M · Total debt $0 · Total assets $23.8M · Shareholders' equity $21.8M
- Revenue
- $190.1K
- Operating income
- −$2.8M
- Net income
- −$2.6M
No dividends on record.
| Institutions | 36.15% | 2.98M shares | |
|---|---|---|---|
| 36 holders · as of Jun 30, 2026 | |||
| Insiders | 4.42% | 364.5K shares | |
| 2 holders · as of Apr 7, 2026 | |||
| Other | 59.43% | 4.90M shares | |
| remainder | |||
8.24M company shares as of Sep 23, 2026 · institutions as of Jun 30, 2026 · holders as of their latest filing
Top shareholders13F · 13D/G · Form 4
| Holder | Stake | Shares | Date |
|---|---|---|---|
Squadron Capital Management LLCInstitution | 9.83% | 810,000 | as of Jun 30, 2026 |
Ikarian Capital, LLCInstitution | 6.17% | 508,556 | as of Jun 30, 2026 |
Squadron Master Fund LPInstitution | 5.46% | 450,000 | filed May 15, 2026 |
Eversept Partners, LPInstitution | 3.58% | 294,989 | as of Jun 30, 2026 |
Vanguard Capital Management LLCInstitution | 2.80% | 230,823 | as of Jun 30, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Apr 7, 2026 | John W. Higuchi | director | +40,000 | $2.03 |
| Apr 6, 2026 | Mahesh V. Patel | director, officer: Chief Executive Officer | +25,000 | $2.03 |
| Apr 6, 2026 | John W. Higuchi | director | +123,000 | $2.05 |
| Apr 2, 2026 | Mahesh V. Patel | director, officer: Chief Executive Officer | +25,000 | $2.02 |
- Biogen
Approved oral therapy in postpartum depression.
- Halozyme Therapeutics
Marketed injectable testosterone alternative for hypogonadism.
- Pfizer
Injectable testosterone replacement for the same adult patients.
- Teva (ADR)
Generic topical testosterone competes for treated hypogonadism patients.
Compare
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Lipocine | $2.15 | −0.46% | $17.8M | — | — | 11.3 | −69.5% |
| Biogen | $223.00 | −1.05% | $33.30B | 39.9 | 16.8 | 3.3 | +3.4% |
| Halozyme Therapeutics | $112.40 | −2.37% | $13.66B | 34.4 | 11.8 | 8.2 | +47.7% |
| Pfizer | $27.93 | −0.02% | $159.19B | 36.9 | 10.0 | 2.5 | +2.6% |
| Teva (ADR) | $38.97 | −1.39% | $46.03B | 65.9 | 13.9 | 2.7 | −0.8% |
| Median | 38.4 | 12.8 | 3.0 | +3.0% |