This past week the biopharmaceutical company Lipocine Inc (NASDAQ:LPCN) was in focus among investors after it announced its financial results for the second fiscal quarter of 2021 that ended on June 30.
The financial results were announced this past Thursday but it was yesterday that the Lipocine stock moved and went up by 3%. In this situation, it could be a good idea for investors to take a closer look at the company’s financial results. In the second quarter, the company suffered a loss of as much as $6.8 million, which worked out to losses of $0.08 for each diluted share in Lipocine.
In the same quarter in 2020, the company had suffered a loss of $6.4 million and that worked out to losses of $0.13 per diluted share in Lipocine. On the other hand, the expenses towards research and development came in at $1.5 million for the quarter. In the prior year period, the same expenses stood at $2.3 million.
The drop in research and development costs was primarily brought about by the drop in expenses towards contract research organisations as well as costs incurred for hiring outside consultants. Investors could consider keeping an eye on this stock next week.