Lipocine, Antares Ink Licensing Pact For Testosterone Replacement Therapy In US

Lipocine Inc LPCN has entered into an exclusive licensing agreement with Antares Pharma Inc ATRS to commercialize Tlando in the U.S.
Tlando is an oral testosterone product for testosterone replacement therapy in adult males indicated for conditions associated with a deficiency or absence of endogenous testosterone.
Under the terms of the agreement, Lipocine will receive an immediate upfront cash payment of $11.0 million and, an additional $5.0 million in January 2025, and another $5.0 million in January 2026.
Lipocine will also be entitled to receive sales-based commercial milestone payments of up to $160.0 million.
Lipocine grants Antares Pharma an option to license Tlando XR for development and commercialization in the U.S.
Upon exercise of the option, Lipocine to receive an additional $4.0 million in license fees, clinical and regulatory milestone payments of up to $35.0 million, and tiered royalties on net sales from mid-teens up to 20%.
Price Action: LPCN shares are up 0.44% at $1.14 during the market session on the last check Monday.