Lipocine Q2 net loss narrows to $2.2M; Phase 3 PPD study underway

Lipocine Inc.

2025-Q2 EPS reported -$0.76 revenue$716,713

Net loss of $2.2M ($0.41/diluted share) vs $3.1M loss year ago; cash $17.9M at quarter end.
LPCN 1154 Phase 3 pivotal trial for postpartum depression dosing patients; topline Q2 2026, NDA mid-2026.
LPCN 2401 Phase 2 proof-of-concept study in obesity planned, first patient dosing target Q3 2025.
TLANDO NDS filed in Canada by Verity Pharma in June; Brazil license deal with Aché in April.
Total revenue $623K (Q2) vs $90K year ago, including $500K license revenue.

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