Shares of biopharmaceutical company Lipocine Inc. (NASDAQ: LPCN) have been up trending in early hours trading today. As of 07:17 a.m. EST, the stock was up +9.79% to $1.57 with 1.16M shares changed hands.
What’s driving the stock?
Biopharmaceutical company Lipocine Inc. focuses on the development of pharmaceutical products for metabolic disorders and endocrinological disorders. Primarily, it is focused on developing oral delivery systems for pharmaceuticals with poor bioavailability. A portfolio of product candidates provided by the company aims to produce pharmacokinetics that produces lower dosing requirements, circumvent first-pass metabolic pathways in certain places, reduce side effects, and decrease the negative effects following gastro-intestinal interaction.
There are five clinical development pipeline products for Lipocine. They are ORLANDO, LPCN 1144, ORLANDO XR, LPCN 1148, and LPCN 1107. The novel oral testosterone prodrug ORLANDO contains testosterone undecanoate. The FDA has tentatively approved the prodrug for conditions associated with a deficiency of endogenous testosterone in male adults, also referred to as hypogonadism.
Lipocine is scheduled to present the clinical data for ORLANDO at the ENDO 2021 Conference, to take place March 20-23, 2021, the company announced recently.
A public offering of shares of Lipocine’s common stock was closed by Lipocine during the last month offering 16,428,571 shares. Upon the public offering of the common stock, the underwriters exercised in full their option to purchase 2,142,857 additional shares of common stock at the public offering price. Before deducting underwriting discounts and commissions or other expenses payable by Lipocine, the gross proceeds to the company were approximately $28.7 million.