| Cash Flow | 2025-09-30 | 2025-06-30 |
|---|---|---|
| Non-cash loss on change in fair value of warrant liability | - | 0 |
| Net loss | -7,257,421 | -4,070,589 |
| Depreciation expense | 45,801 | 31,678 |
| Stock-based compensation expense | 189,463 | 136,207 |
| Amortization of discounts on marketable investment securities | 126,533 | 92,625 |
| Accrued interest income | -5,175 | 1,285 |
| Prepaid and other current assets | 115,882 | -205,286 |
| Accounts payable | 589,756 | 171,298 |
| Accrued expenses | -171,573 | -235,461 |
| Cash used in operating activities | -6,841,214 | -3,855,491 |
| Purchases of marketable investment securities | 10,280,624 | 5,082,073 |
| Maturities of marketable investment securities | 14,600,000 | 8,700,000 |
| Net cash provided by investing activities | 4,319,376 | 3,617,927 |
| Net proceeds from sale of common stock through atm | 216,952 | 75,618 |
| Cash provided by financing activities | 216,952 | 75,618 |
| Net decrease in cash and cash equivalents | -2,304,886 | -161,946 |
| Cash and cash equivalents at beginning of period | 6,205,926 | - |
| Cash and cash equivalents at end of period | 3,901,040 | - |
Lipocine Inc. (LPCN)
Lipocine Inc. (LPCN)