The investigation concerns whether Lipocine gave misleading information to the public and violated federal securities laws.
Lipocine Complete Response Letter (CPL)
On Monday November 11, 2019, Lipocine said it received a CRL (Complete Response Letter) from the Food and Drug Administration regarding its new drug application for TLANDO, a candidate for testosterone replacement treatment.
The company stated that the CRL “identified one deficiency stating the efficacy trial did not meet the three secondary endpoints for maximal testosterone concentrations.” That means the drug can’t be approved in its current form. Due to that news, Lipocine’s stock price fell 67%.
Lipocine said it is disappointed by the FDA’s decision and wants to find “a potential path forward for the approval of TLANDO.” The company’s stock was up 110% from the beginning of the year through the Friday before the CRL announcement.
Lipocine Public Offerings
Lipocine held its initial public offering in 2013 with an underwritten public offering of 1,492,000 shares that grossed the company $12.3 million. Ladenburg Thalmann & Co. Inc. was sole book-running manager for the offering, and National Securities Corporation was lead manager.
The company held another public offering in 2015 that raised more than $30 million. Joint book-running managers for that offering were Cannacord Genuity Inc and Ladenburg Thalmann, with Roth Capital Partners as co-manager.
Recovering Money Lost With Lipocine (LPCN) Stock
If you suffered losses with Lipocine, we’d like to hear from you. Contact us to discuss your legal rights and potential options to recover your losses.
Silver Law Group represents the interests of investors who have been the victims of investment fraud. Our attorneys represent investors in class actions against issuers in state or federal court and investors in securities arbitration claims against Wall Street firms for stockbroker misconduct. Scott Silver is the chairman of the Securities and Financial Fraud Group of the American Association of Justice and represents investors nationwide in securities investment fraud cases. Please contact Scott Silver of the Silver Law Group for a free consultation at ssilver@silverlaw.com or toll free at (800) 975-4345.