Lipocine Balance Sheet

Financials in millions USD. Fiscal year is January - December.

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Sep '25 Sep 30, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021	Dec '20 Dec 31, 2020
Cash & Equivalents	3.9	6.21	4.77	3.15	2.95	19.22
Short-Term Investments	11.23	15.43	17.26	29.38	41.67	0.45
Cash & Short-Term Investments	15.13	21.63	22.04	32.53	44.62	19.67
Cash Growth	-23.67%	-1.82%	-32.26%	-27.09%	126.86%	39.80%
Accounts Receivable	-	-	-	0.58	-	-
Other Receivables	0.12	0.12	0.05	0.08	0.25	0
Receivables	0.12	0.12	0.05	0.66	0.25	0
Prepaid Expenses	0.68	0.57	0.77	0.95	1.51	0.66
Restricted Cash	-	-	-	-	-	5
Total Current Assets	15.93	22.32	22.86	34.14	46.38	25.33
Property, Plant & Equipment	0.12	0.17	0.12	0.13	0.01	-
Long-Term Investments	-	-	-	-	2.02	-
Long-Term Accounts Receivable	-	-	-	3.25	4.05	-
Other Long-Term Assets	0.02	0.02	0.02	0.02	0.02	0.02
Total Assets	16.07	22.51	23	37.54	52.48	25.35
Accounts Payable	0.86	0.27	1.4	0.6	1.29	1.6
Accrued Expenses	0.59	0.48	1.22	1.08	1.02	1.65
Current Portion of Long-Term Debt	-	-	-	-	2.31	3.33
Current Portion of Leases	0.16	0.44	-	-	-	-
Current Unearned Revenue	0.32	0.32	-	-	-	-
Other Current Liabilities	-	-	0.02	-	1	-
Total Current Liabilities	1.93	1.51	2.63	1.68	5.62	6.58
Long-Term Debt	-	-	-	-	-	2.26
Other Long-Term Liabilities	-	-	-	0.23	1.3	1.17
Total Liabilities	1.93	1.51	2.63	1.91	6.91	10.01
Common Stock	0.01	0.01	0.01	0.01	0.01	0.01
Additional Paid-In Capital	221.2	220.79	220.17	219.11	218.29	187.41
Retained Earnings	-207.03	-199.77	-199.78	-183.43	-172.67	-172.03
Treasury Stock	-0.04	-0.04	-0.04	-0.04	-0.04	-0.04
Comprehensive Income & Other	0	0.01	0.01	-0.02	-0.02	-
Shareholders' Equity	14.14	21	20.37	35.63	45.57	15.34
Total Liabilities & Equity	16.07	22.51	23	37.54	52.48	25.35
Total Debt	0.16	0.44	-	-	2.31	5.59
Net Cash (Debt)	14.97	21.19	22.04	32.53	44.33	14.08
Net Cash Growth	-23.88%	-3.82%	-32.26%	-26.62%	214.90%	103.40%
Net Cash Per Share	2.79	3.91	4.18	6.19	8.60	4.30
Filing Date Shares Outstanding	5.55	5.35	5.32	5.21	5.19	5.19
Total Common Shares Outstanding	5.42	5.35	5.32	5.21	5.19	4.12
Working Capital	14	20.81	20.23	32.46	40.76	18.75
Book Value Per Share	2.61	3.93	3.83	6.84	8.77	3.72
Tangible Book Value	14.14	21	20.37	35.63	45.57	15.34
Tangible Book Value Per Share	2.61	3.93	3.83	6.84	8.77	3.72
Machinery	-	1.39	1.3	1.29	1.15	1.14

Updated Sep 30, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.

SEC Filings: 10-K · 10-Q