Lipocine Inc. (LPCN) Stock Score, Valuation & Financial Research

Lipocine Inc. is in the Healthcare sector and Biotechnology industry. It is reviewed using Wall Street Score's company-strength, valuation, growth and financial-health framework. A complete Wall Street Score is not currently available.

Quick answer for LPCN

Lipocine Inc. does not currently have a complete Wall Street Score. The stored market price is USD 2.10. These figures are a research snapshot, not a buy or sell recommendation.

What Lipocine Inc. does

Lipocine Inc. is a biopharmaceutical firm currently in the clinical development phase, concentrating its efforts on creating medicinal products to address a range of neuroendocrine and metabolic conditions. A core aspect of the company's research and development involves formulating oral delivery methods for pharmaceutical compounds that typically suffer from low bioavailability. Its foremost investigational therapy is TLANDO, an oral solution for testosterone replacement. The company's development pipeline also encompasses several other promising candidates: LPCN 1144: An orally administered prodrug derived from bioidentical testosterone, which has successfully completed Phase II clinical trials for the treatment of non-cirrhotic non-alcoholic steatohepatitis. LPCN 1111: An oral prodrug of testosterone tridecanoate, engineered for once-daily administration, and having also concluded Phase II clinical studies in men experiencing hypogonadism. LPCN 1148: A novel prodrug combining testosterone and testosterone laurate, designed for the management of decompensated cirrhosis. LPCN 1154: An investigational new drug application has been submitted to initiate a Phase 2 study targeting Postpartum Depression. LPCN 2101: A compound intended for women with epilepsy, which has progressed beyond its pre-clinical study phase. LPCN 1107: An oral hydroxyprogesterone caproate product, which has completed its dose-finding Phase II clinical trial aimed at preventing recurrent preterm birth. The corporate headquarters for Lipocine Inc. are located in Salt Lake City, Utah.

Company business and revenue

Research reporting period: 2025-12-31. A research update is not a new financial filing.

How the company makes money

Lipocine is a biopharmaceutical company that generates revenue primarily through licensing its proprietary oral drug delivery technology and receiving royalty payments from commercialized products. The company focuses on developing and commercializing novel oral therapeutics, relying on contractual arrangements with partners to bring its pipeline candidates to market.

Products and services

Lipocine develops a pipeline of oral therapeutics including LPCN 1154 for postpartum depression, LPCN 2201 for major depressive disorder, LPCN 2101 for epilepsy, LPCN 2203 for essential tremor, and LPCN 2401 for obesity management.

Customer types

Pharmaceutical companies.

Suppliers, materials and equipment

Contract Manufacturing Organizations — The company relies on third-party contract manufacturing organizations for the production of its clinical and commercial drug supplies; specific supplier names are not disclosed. Source

Business strengths to evaluate

Proprietary oral drug delivery technology platform Source

Business risks and research considerations

Dependence on third-party manufacturers and clinical trial partners Source
History of operating losses and potential need for additional capital Source
Regulatory approval and clinical trial success uncertainties Source

Sources: Company research source

Company research refreshed 2026-10-13. This is saved research, not a live check of company relationships. Check the reporting period and source disclosures. Financial figures and scores follow their separate update schedules.

LPCN financial snapshot

Statement amounts: USD. Quote amounts: USD. No exchange-rate conversion is performed in this snapshot. Market-capitalization currency is not supplied by this projection.

Wall Street Score:: Not currently available
Stored price:: USD 2.10
Market capitalization:: 17.31M (currency not supplied)
Revenue:: USD 1.57M
Net income:: USD -11.85M
Free cash flow:: USD -9.76M
Cash:: USD 4.98M
Total debt:: USD 449.59K
EPS:: USD -1.87

What stands out

Reported year-over-year revenue growth is -20.6%.
Free cash flow is USD -9.76M, negative for the stored period.
The balance sheet shows USD 4.98M of cash versus USD 449.59K of total debt, an excess of cash over debt on these two reported measures.
The current research record carries a fundamental change risk warning, which should be reviewed alongside the score.

Company-specific financial comparisons

The following are calculated from saved company data, not forecasts or statements about future performance. Differences in reporting dates or units can make a ratio misleading; verify the original filings.

Free cash flow is -621.9% of stored revenue. This is a simple cross-field ratio, not a verified same-period cash conversion margin; confirm reporting periods before comparison.
Net income equals -755.1% of stored revenue. This is an indicative ratio only; accounting periods and units should be verified in filings.
Cash exceeds debt by USD 4.53M using the stored balance-sheet values. This does not include other obligations or restricted cash.

Questions worth answering for LPCN

Use these questions to check the stored figures against the latest company filings. They identify issues to investigate; they are not findings about management's plans or future results.

What is driving LPCN's revenue decline, and does the latest filing suggest the weakness is temporary or structural?
How long can LPCN fund negative free cash flow using its current cash position before it may need more debt or new shares?
How is LPCN likely to use its cash advantage: reinvestment, acquisitions, debt reduction, dividends or buybacks?
What specifically needs to improve for LPCN to reach sustainable profitability?
What does the current fundamental change risk warning mean for the reliability or interpretation of LPCN's score?

What the numbers mean

A complete valuation score is not currently available, so valuation should be checked using the available earnings, cash-flow and price data.

A complete financial score is not currently available, so investors should review cash, debt, earnings and cash flow directly.

A strong company and an attractive stock price are not always the same thing. Revenue, earnings, free cash flow, debt, management quality, competitive advantage and valuation should be considered together. Wall Street Score organizes these inputs into a consistent research framework so investors can identify what deserves deeper review.

Data freshness: Financial data last refreshed 2026-10-01.

Research-input completeness: 82% of the scoring inputs required for this public page are currently available.

How to research LPCN

Start by understanding how the company makes money. Then compare revenue and earnings trends, cash generation, debt, liquidity and valuation. Review the company's latest filings and earnings reports before acting on any score or model estimate.

Learn how to analyze a stock · Read the Wall Street Score methodology · Browse other stocks

Data may change as company filings and market prices update. Educational research only; not a buy or sell recommendation.