Last week, the biopharmaceutical company Lipocine Inc (NASDAQ: LPCN) was the focus of investors after it announced its financial results for the second fiscal quarter of 2021 ending June 30th.
Financial results were announced last Thursday, but Lipocine stock moved yesterday, up 3%. In this situation, it may be useful for investors to take a closer look at the company’s financial results. In the second quarter, the company suffered a loss of up to $ 6.8 million, a loss of $ 0.08 for each diluted share of Lipocine.
In the same quarter of 2020, the company suffered a loss of $ 6.4 million, equivalent to a loss of $ 0.13 per diluted Lipocine share. On the other hand, research and development expenses for the quarter were $ 1.5 million. For the same period last year, the same spend was $ 2.3 million.
The decrease in research and development costs is mainly due to the decrease in expenses for contract research institutes as well as costs for hiring external consultants. Investors might consider keeping an eye on this stock next week.