Lipocine Reports Encouraging Progress Post Second Interim Safety Review in Phase 3 Trial of LPCN 1154 in Postpartum Depression (PPD) Company on track to report topline results early in the second quarter of 2026 Second p

Reports Encouraging Progress Post Second Interim Safety Review in Phase 3 Trial of LPCN 1154 in Postpartum Depression (PPD)

LAKE CITY, UT, January 12, 2026/PR NEWSWIRE/ - Lipocine Inc. (NASDAQ: LPCN), a biopharmaceutical company leveraging its proprietary

technology platform to develop innovative products with effective oral delivery, today announced the completion of a scheduled independent

Data Safety Monitoring Board review of its ongoing Phase 3 clinical trial evaluating LPCN 1154 (oral brexanolone) for the rapid relief

treatment of PPD. This was the second of two DSMB reviews planned during the study. The DSMB recommended that the trial continue as planned

without modification.

DSMB recommendation was based on assessment of available safety data collected from 82 randomized participants, of which 74 had completed

dosing. There have been no treatment discontinuations or reports of drug-related serious adverse events. No cases of excessive sedation

or loss of consciousness have been reported to date. The one reported case of a dose reduction was due to an adverse event.

study is no longer screening new participants, however the company continues to enroll the additional participants who have met the eligibility

criteria. The company is on track to report topline safety and efficacy results early in the second quarter of 2026.

data generated to date reinforces our confidence in the safety profile of LPCN 1154," said Mahesh Patel, CEO of Lipocine. "We

believe LPCN 1154's target profile, including superior tolerability, rapid therapeutic benefit, and a short 48-hour treatment course,

has the potential to establish a new and improved treatment paradigm for PPD. We look forward to sharing results from our Phase 3 study

in the second quarter of 2026."

pivotal, randomized, double-blind study is evaluating LPCN 1154 compared to placebo in women aged 15 years and older diagnosed with severe

PPD. Following constructive feedback from the U.S. Food and Drug Administration (FDA), the trial is being conducted entirely in an outpatient

setting and administration of LPCN 1154 does not require medical monitoring by a healthcare provider. Data from this Phase 3 trial are

expected to support a 505(b)(2) NDA submission for LPCN 1154 in 2026. For more information, refer to clinicaltrials.gov: NCT06979544.

1154 is an oral formulation of brexanolone being developed to provide rapid relief of postpartum depression in a convenient, at-home

treatment. It has potential to be the first line treatment choice for women with PPD while presenting no significant risk of adverse

reactions to breastfed infants from exposure to brexanolone. It also has characteristics that could be particularly beneficial to patients

with severe PPD (including those with elevated suicide risk) for whom rapid improvement is a priority.

Postpartum Depression and Unmet Needs

is a major depressive disorder with onset either during pregnancy or within four weeks of delivery, with symptoms persisting up to 12

months after childbirth. Hormonal changes leading to GABA dysfunction are common in depression and pregnancy. Symptoms of PPD include

hallmarks of major depression, including, but not limited to, sadness, depressed mood, loss of interest, change in appetite, insomnia,

sleeping too much, fatigue, difficulty thinking/concentrating, excessive crying, fear of harming the baby/oneself, and/or thoughts of

death or suicide. Results from a recent survey (Truist Securities Research, January 2024) show that obstetricians believe approximately

20-40% of their patients may suffer from PPD. Further, obstetricians are comfortable making a diagnosis and prescribing antidepressants

for PPD. Traditional antidepressants, not approved for PPD, have slow onset of action, side effects such as weight gain, and do not demonstrate

is a biopharmaceutical company leveraging its proprietary technology platform to develop innovative products with effective oral delivery.

Lipocine has drug candidates in development as well as drug candidates for which we are exploring partnerships. Our drug candidates represent

enablement of differentiated patient friendly oral delivery options for favorable benefit to risk profile which target large addressable

markets with significant unmet medical needs.

development pipeline includes: LPCN 1154 for the treatment of postpartum depression, LPCN 2201 for major depressive disorder, LPCN 2202

for treatment resistant depression, LPCN 2101 for the treatment of epilepsy, LPCN 2203 targeted for the management of essential tremor,

LPCN 2401 as an aid for improved body composition in obesity management, LPCN 1148 targeted for the management of symptoms associated

with liver cirrhosis, and LPCN 1107 our candidate for prevention of preterm birth. TLANDO, a novel oral prodrug of testosterone containing

testosterone undecanoate developed by Lipocine, is approved by the FDA for conditions associated with a deficiency of endogenous testosterone,

also known as hypogonadism, in adult males. For more information, please visit www.lipocine.com.

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 regarding our product candidates and related clinical

trials, our development of our product candidates and related efforts with the FDA, including with respect to LPCN 1154, our Phase 3

safety and efficacy study relating to LPCN 1154, including the timing and potential results of the study, and the potential uses and

benefits of our product candidates, including the impact of LPCN 1154 on the treatment of PPD. Investors are cautioned that all such

forward-looking statements involve risks and uncertainties, including, without limitation, the risks that we may not be successful in

developing product candidates, we may not have sufficient capital to complete the development processes for our product candidates or

we may decide to allocate our available capital to other product candidates, we may not be able to enter into partnerships or other strategic

relationships to monetize our assets, safety and efficacy studies, including those relating to LPCN 1154, may not be successful or may

not provide results that would support the submission of a NDA, the FDA may 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 and our ability to utilize

a streamlined approval pathway for LPCN 1154, 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 required by law.

further information:

Phone: (801) 994-7383

Phone: (617) 430-7579