Full Press Release Details
LIPOCINE ANNOUNCES LAUNCH OF PUBLIC OFFERING
CITY (January 25, 2021) - Lipocine Inc. (NASDAQ:LPCN), a clinical-stage biopharmaceutical company focused on
metabolic and endocrine disorders, today announced that it intends to offer shares of its common stock for sale in an
underwritten public offering. In addition, the Company expects to grant the underwriters a 30-day option to purchase up to an
additional 15% of the shares of common stock offered in the public offering solely to cover over-allotments, if any. The
offering is subject to market conditions and there can be no assurance as to whether or when the offering may be completed,
or as to the actual size or terms of the offering. All of the shares in the proposed offering are to be sold by Lipocine.
the net proceeds from this offering for general corporate purposes. General corporate purposes may include additions to working
capital and capital expenditures.
& Associates, Inc. is acting as the sole manager for the public offering.
is being made pursuant to an effective shelf registration statement on Form S-3 (No. 333-250072) previously filed with the U.S.
Securities and Exchange Commission (the "SEC") and declared effective by the SEC on November 23, 2020. A preliminary
prospectus supplement and accompanying prospectus describing the terms of the proposed offering will be filed with the SEC and
will be available on the SEC's website located at http://www.sec.gov. When available, copies of the preliminary prospectus
supplement and accompanying prospectus may also be obtained from Raymond James & Associates, Inc., Attention: Equity Syndicate,
880 Carillon Parkway, St. Petersburg, Florida 33716, by telephone at (800) 248-8863 or by e-mail at prospectus@raymondjames.com.
Before investing in this offering, interested parties should read in their entirety the preliminary prospectus supplement and
the accompanying prospectus and the other documents that the Company has filed with the SEC that are incorporated by reference
in such prospectus supplement and the accompanying prospectus, which provide more information about the Company and such offering.
This press release shall not constitute an offer to sell or
the solicitation of an offer to buy nor shall there be any sale of these securities in any state or jurisdiction in which such
offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state
("Lipocine") is a clinical-stage biopharmaceutical company focused on metabolic and endocrine disorders using its
proprietary drug delivery technologies. Lipocine's clinical development pipeline includes: TLANDO, LPCN 1144, TLANDO XR, LPCN
1148 and LPCN 1107. TLANDO, a novel oral prodrug of testosterone containing testosterone undecanoate, has received tentative
approval from the U.S. Food and Drug Administration (the "FDA") for conditions associated with a deficiency of
endogenous testosterone, also known as hypogonadism, in adult males. LPCN 1144, an oral prodrug of bioidentical
testosterone, recently completed a proof-of-concept clinical study demonstrating the potential utility in the treatment of
non-cirrhotic NASH. LPCN 1144 is currently being studied in a Phase 2 clinical study. TLANDO XR, a novel oral
prodrug of testosterone, originated and is being developed by Lipocine as a next-generation oral testosterone product with
potential for once-daily dosing. In a Phase 2 clinical evaluation when administered once daily or twice daily TLANDO XR met
the typical primary and secondary end points. LPCN 1148 is an oral prodrug of bioidentical testosterone targeted for the
treatment of cirrhosis. LPCN 1107 is potentially the first oral hydroxyprogesterone caproate product candidate indicated for
the prevention of recurrent preterm birth and has been granted orphan drug designation by the FDA. For more information,
please visit www.lipocine.com.
Forward-Looking Statements
This release contains
"forward-looking statements" that are made pursuant to the safe harbor provisions of the Private Securities Litigation
Reform Act of 1995 and include statements that are not historical facts, including statements regarding Lipocine's announced offering
of securities, expected proceeds from such offering, its intended use of proceeds and other statements that are not historical
facts. Investors are cautioned that all such forward-looking statements involve risks and uncertainties, including, without limitation,
the risks that the offering of common stock may not close, the funds raised are uncertain, the funds raised, if any, may not meet
our needs and the terms may not be advantageous to us, risks that the FDA will not approve any of our products, risks related
to our products, expected product benefits not being realized, clinical and regulatory expectations and plans not being realized,
new regulatory developments and requirements, risks related to the FDA approval process including the receipt of regulatory approvals,
the results and timing of clinical trials, patient acceptance of Lipocine's products, the manufacturing and commercialization
of Lipocine's products, and other risks detailed in Lipocine's filings with the SEC, including, without limitation, its Form 10-K
and other reports on Forms 8-K and 10-Q, all of which can be obtained on the SEC website at www.sec.gov.
Lipocine assumes no obligation to update or revise publicly any forward-looking statements contained in this release, except as
Executive Vice President & Chief Financial Officer
Phone: (801) 994-7383
Phone: (617) 535-7743