LPCN · XBRL financial data
Lipocine financial statements, every fiscal year
The same tables from 6 filings, lined up. Matched by XBRL tag: renamed lines keep their history.
How these numbers work
- Every number comes from the company's XBRL financial data filed with the SEC, and each one links to its filing.
- Lines are matched by XBRL tag, so a line renamed between filings keeps its history.
- * marks a quarter worked out from the filing totals: the 10-K year minus the first three quarters, or a year-to-date total minus the earlier one. Fourth-quarter earnings per share is fourth-quarter net income over the fourth-quarter weighted shares.
- 0 means a filing states zero; a dash (—) means no filing states that number.
- “year only” means the 10-K gives the full year but not the quarters needed to work out the fourth. A worked-out quarter of revenue, cost of revenue or operating cash flow more than twice the company's largest quarter of the two years before is shown this way too.
- Gross profit is shown as the company reports it; a worked-out quarter must equal revenue less cost of revenue for that quarter, or it is a dash.
- Operating income can be above gross profit when the company books other operating income between the two, shown on its own line.
- Shares outstanding come from each filing's cover page, as of the date printed there.
- Quarters are fiscal: Q2 FY27 is the second quarter of the company's fiscal 2027.
Income statement
CSVFiscal years (LPCN's year ends in late December)
| In thousands of dollars | Dec 31, 2020 | Dec 31, 2021 | Dec 31, 2022 | †Dec 31, 2023 | Dec 31, 2024 | Dec 31, 2025 |
|---|---|---|---|---|---|---|
| Revenue | 0 | 16,141 | 500 | (2,851) | 11,198 | 1,977 |
| Revenue from contracts with customers | — | 16,141 | 500 | — | — | — |
| Research and development | 9,748 | 7,666 | 8,557 | 10,175 | 7,352 | 8,584 |
| General and administrative | 8,248 | 5,330 | 4,062 | 4,905 | 5,001 | 3,764 |
| Total operating expenses | 17,996 | 12,995 | 12,619 | 15,080 | 12,353 | 12,348 |
| Operating income (loss) | (17,996) | 3,146 | (12,119) | (17,931) | (1,155) | (10,371) |
| Interest income | 76 | 68 | 573 | 1,367 | 1,147 | 744 |
| Interest expense | 387 | 203 | 27 | — | — | — |
| Other income (expense) | (2,968) | (3,780) | 1,361 | — | — | — |
| Income tax expense (benefit) | 0 | 0 | 1 | 1 | 1 | 0 |
| Net income (loss) | (20,965) | (634) | (10,759) | (16,352) | 8 | (9,628) |
| Earnings per share, basic USD per share | (0.38) | (0.01) | (0.12) | (3.10) | — | (1.77) |
| Earnings per share, diluted USD per share | (0.38) | (0.01) | (0.13) | (3.14) | — | (1.69) |
| Weighted average shares, basic thousands of shares | 55,688 | 86,935 | 88,457 | 5,270 | 5,339 | 5,449 |
| Weighted average shares, diluted thousands of shares | 55,688 | 86,935 | 88,876 | 5,270 | 5,423 | 5,708 |
- † Share count changed about 1/17 in the period ending 2023-12-31, likely a stock split with no split ratio in the XBRL data; figures before that column are not adjusted.
Balance sheet
CSVFiscal years (LPCN's year ends in late December)
| In thousands of dollars | Dec 31, 2020 | Dec 31, 2021 | Dec 31, 2022 | †Dec 31, 2023 | Dec 31, 2024 | Dec 31, 2025 |
|---|---|---|---|---|---|---|
| Cash and cash equivalents | 19,217 | 2,951 | 3,148 | 4,772 | 6,206 | 5,206 |
| Marketable securities | 450 | 41,667 | 29,381 | 17,264 | 15,427 | 9,725 |
| Marketable securities, non-current | — | 2,022 | — | — | — | — |
| Prepaid and other current assets | 661 | 1,514 | 945 | 773 | 568 | 788 |
| Total current assets | 25,329 | 46,380 | 34,135 | 22,861 | 22,322 | 16,878 |
| Property and equipment, net | — | 7 | 132 | 116 | 165 | 104 |
| Total assets | 25,353 | 52,482 | 37,543 | 23,001 | 22,511 | 17,006 |
| Accounts payable | 1,597 | 1,289 | 600 | 1,396 | 272 | 972 |
| Accrued liabilities | 1,653 | 1,016 | 1,078 | 1,218 | 921 | 1,236 |
| Total current liabilities | 6,584 | 5,617 | 1,678 | 2,632 | 1,513 | 2,528 |
| Long-term debt | 2,257 | — | — | — | — | — |
| Total liabilities | 10,011 | 6,912 | 1,908 | 2,632 | 1,513 | 2,528 |
| Accumulated deficit | (172,032) | (172,666) | (183,425) | (199,777) | (199,769) | (209,396) |
| Total stockholders' equity | 15,342 | 45,570 | 35,635 | 20,369 | 20,998 | 14,477 |
| Total liabilities and equity | 25,353 | 52,482 | 37,543 | 23,001 | 22,511 | 17,006 |
| Common shares outstanding (cover page) thousands of shares | 88,291 | 88,291 | 88,511 | 5,316 | 5,350 | 7,300 |
- † Share count changed about 1/17 in the period ending 2023-12-31, likely a stock split with no split ratio in the XBRL data; figures before that column are not adjusted.
Cash flows
CSVFiscal years (LPCN's year ends in late December)
| In thousands of dollars | Dec 31, 2020 | Dec 31, 2021 | Dec 31, 2022 | †Dec 31, 2023 | Dec 31, 2024 | Dec 31, 2025 |
|---|---|---|---|---|---|---|
| Net income (loss) | (20,965) | (634) | (10,759) | (16,352) | 8 | (9,628) |
| Stock-based compensation | 1,373 | 604 | 636 | 654 | 409 | 242 |
| Net cash from operating activities | (15,303) | (4,411) | (11,969) | (11,866) | (1,221) | (9,761) |
| Purchases of property and equipment | — | 8 | 134 | 13 | 90 | — |
| Net cash from investing activities | 3,893 | (43,780) | 14,294 | 13,085 | 2,446 | 5,891 |
| Proceeds from issuing common stock | 5,653 | 26,840 | (22) | 405 | 209 | 2,870 |
| Net cash from financing activities | 20,899 | 26,925 | (2,127) | 405 | 209 | 2,870 |
| Net change in cash | 9,489 | (21,267) | 198 | 1,623 | 1,434 | (1,000) |
- † Share count changed about 1/17 in the period ending 2023-12-31, likely a stock split with no split ratio in the XBRL data; figures before that column are not adjusted.
Compare with peers
SIC 2834 and related industry codes, similar size. Each row is the latest quarter reported.
How peers are chosen
- SIC 2834 and related industry codes with public float (or, where float is missing, quarterly revenue) between 0.2x and 5x the company's.
- Each row is the latest quarter the company has reported, named in the Quarter column; when that filing is a 10-K, it is the fourth quarter, never the full year.
- Runway shows only for companies burning cash with under $10B of public float.
- * marks a quarter worked out from the filing totals: for a 10-K, the year less the first three quarters; for a 10-Q, the year-to-date total less the earlier one.
- A cell reading “not reported” means the filings give no figure for that quarter alone.
| Company | Cash ($K) | Revenue, quarter ($K) | Operating cash flow, quarter ($K) | Shares outstanding | Runway | Quarter |
|---|---|---|---|---|---|---|
| Lipocine | 4,979 | 190 | (3,028)* | 8.2M | 7.7 quarters | 10-QJun 30, 2026 |
| CalciMedica | 18,617 | not reported | (4,620)* | 34.1M | 4.0 quarters | 10-QJun 30, 2026 |
| Marker Therapeutics | 11,331 | not reported | (3,716)* | 16.7M | 3.0 quarters | 10-QJun 30, 2026 |
| Clearside Biomedical | 6,801 | 201 | (5,480)* | 5.2M | 1.2 quarters | 10-QSep 30, 2025 |
| Ernexa Therapeutics | 5,028 | not reported | (4,152)* | 1.6M | 1.2 quarters | 10-QJun 30, 2026 |
| Pluri | 3,529 | 335* | (4,443)* | 12.3M | 0.8 quarters | 10-KJun 30, 2026 |
| ProPhase Labs | 20 | 1,011 | (78)* | 15.6M | 0.3 quarters | 10-QJun 30, 2026 |
| Charlie's Holdings | 527 | not reported | (383)* | 280.6M | 1.4 quarters | 10-QJun 30, 2026 |
| Akari Therapeutics | 7,694 | not reported | (3,109)* | 155.8B | 2.5 quarters | 10-QJun 30, 2026 |
Not investment advice. Not affiliated with the U.S. SEC.