Lipocine Inc. (NASDAQ:LPCN) Stock is All Set To Gap-Up: How to Trade Now?
Lipocine Inc. (NASDAQ:LPCN) jumped 9% pre-market after the clinical-stage biopharmaceutical company announced a global license and settlement agreement with Clarus Therapeutics Inc.
The agreement will see the companies solve unresolved claims regarding the ion-going IP lawsuit between the companies and the continuing interference proceedings between them. Additionally, according to the settlement agreement terms, the companies agreed to dismiss their case Lipcine Inc. v Clarus Theraputics Inc., No19-cv-622 (WCB), currently pending at the District of Delaware’s US District Court.
In addition, the companies have entered an agreement regarding interference proceedings titled Clarus Therapeutics Inc. V. Lipocine., interference no. 106,128 currently pending at the US Patent and Trademark Office. Interestingly, the settlement agreement terms are still confidential. Lipocine’s drug candidates include TLANDO, a proprietary testosterone prodrug that contains testosterone undecanoate. In addition, the FDA gave tentative approval for endogenous testosterone deficiency-associated conditions often called hypogonadism in males. So in the coming weeks, LPCN is stock to watch.
Market Reaction:
On Wednesday, LPCN stock fell 2.27% at $1.29 with more than 4.60 million shares, compared to its average volume of 1.01 million shares. The stock had moved within a range of $1.2600 – 1.3500 after opening the trade at $1.32. Over the past 52-week, the stock has been trading within a range of $1.0900 – 2.4200.
