Policy & Regulation
Lipocine incurs higher net loss of USD21.0m for fiscal 2017
13 March 2018 -

Pharmaceutical company Lipocine Inc (NASDAQ:LPCN) stated on Monday that it recorded a net loss of USD21.0m (USD1.05 per diluted share) for the year ended 31 December 2017.

This marks a decline in earnings when compared with a net loss of USD19.0m (USD1.04 per diluted share) for the year ended 31 December 2016.

Research and development expenses of USD11.0m were recorded during the year ended 31 December 2017, a rise over R&D of USD8.1m during the year ended 31 December 2016. The increase in research and development expenses was due to increased contract research organisation and consultant costs , contract manufacturing costs as well as outside services expenses.

As of 31 December 2017, the company reported cash, cash equivalents and marketable securities of USD21.5m, from cash, cash equivalents and marketable securities of USD26.8m at 31 December 2016.

There were no revenue collections in fiscal 2017 and 2016, respectively.

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