Lipocine Inc.
Financial highlights
| Metric | FY December 31, 2025 | FY December 31, 2024 | FY December 31, 2023 | FY December 31, 2022 | FY December 31, 2021 |
|---|---|---|---|---|---|
| Revenue | $2.0M | $11.2M | -$2.9M | $500,000 | $16.1M |
| Operating income | -$10.4M | -$1.2M | -$17.9M | -$12.1M | $3.1M |
| Operating expenses | $12.3M | $12.4M | $15.1M | $12.6M | $13.0M |
| Cash from operations | -$9.8M | -$1.2M | -$11.9M | -$12.0M | -$4.4M |
| Capital expenditure | — | $90,086 | $13,167 | $133,831 | $7,591 |
| Free cash flow | — | -$1.3M | -$11.9M | -$12.1M | -$4.4M |
| Total assets | $17.0M | $22.5M | $23.0M | $37.5M | $52.5M |
| Total liabilities | $2.5M | $1.5M | $2.6M | $1.9M | $6.9M |
Shares outstanding 8.2M · Free float 84.4%
Annual filing data through FY ended December 31, 2025; float as of June 27, 2026.