Lipocine Seeks Injunction Against the Marketing of Clarus Therapeutics' Jatenzo for Testosterone Replacement Therapy

Lipocine Seeks Injunction Against the

Marketing of Clarus Therapeutics' Jatenzo for Testosterone Replacement Therapy

SALT LAKE CITY, UT, April 3, 2019 - Lipocine

Inc. (NASDAQ: LPCN), a clinical-stage biopharmaceutical company focused on metabolic and endocrine disorders, today

announced that it has filed suit against Clarus Therapeutics, Inc. ("Clarus") in the United States District Court

("Delaware") alleging that Clarus's JATENZO product infringes six of Lipocine's U.S. patents: 9,034,858;

9,205,057; 9,480,690; 9,757,390; 6,569,463; and 6,923,988.

"We have invested significant resources in developing

innovations that have led to our importantly held strong intellectual property rights. We will defend those rights when infringed

upon," said Dr. Mahesh Patel, Chairman, President and Chief Executive Officer of Lipocine.

Lipocine Inc. is a clinical-stage biopharmaceutical company

focused on metabolic and endocrine disorders using its proprietary drug delivery technologies. Lipocine's clinical development

pipeline includes four development programs TLANDO, LPCN 1144, LPCN 1111 and LPCN 1107. TLANDO, a novel oral prodrug of testosterone

containing testosterone undecanoate, is designed to help restore normal testosterone levels in hypogonadal men. LPCN 1144, an oral

product of bioidentical testosterone, recently completed a proof-of-concept clinical study demonstrating the potential utility

the in treatment of NASH. LPCN 1111, 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 and is currently in Phase 2 testing. 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. An End of Phase 2 meeting with the FDA has been completed. 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 regarding Lipocine's product candidates and related clinical trials, the timing

of completion of clinical trials, the potential uses and benefits of our product candidates, and our product development efforts.

Investors are cautioned that all such forward-looking statements involve risks and uncertainties, including, without limitation,

the 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 required by law.

Executive Vice President & Chief

Phone: (801) 994-7383

Phone: (617) 535-7743