Lipocine Announces Settlement of Securities Class Action Lawsuit

SALT LAKE CITY, Feb. 16, 2018

The memorandum of understanding contemplates that the parties will enter into a settlement agreement, which, if entered into, will be subject to customary conditions including court approval following notice to the stockholders of the Company, and a hearing at which time the court will consider the fairness, reasonableness and adequacy of the settlement.  If a settlement is finally approved by the court, it will resolve all of the claims that were or could have been brought in the action being settled.

The defendants continue to deny the allegations made in the purported securities fraud class action litigation and have agreed to enter into the memorandum of understanding in order to avoid the burden and expense of further litigation.   

About Lipocine

Lipocine Inc. is a specialty pharmaceutical company developing innovative pharmaceutical products for use in men's and women's health using its proprietary drug delivery technologies. Lipocine's clinical development pipeline includes three development programs TLANDO, 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. TLANDO was well tolerated and met the primary efficacy end-points in Phase 3 testing with twice daily dosing and is currently under FDA review.  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, is currently in Phase 2 testing and has been granted orphan drug designation by the FDA. For more information, please visit www.lipocine.com.

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