Lipocine Pops And Drops After LPCN 1021 Meets Primary Endpoint

Lipocine Inc LPCN shares are trading higher by 22 cents (4.4 percent) at $4.24 in Tuesday's session.

After Monday's close, the company announced that LPCN 1021 had met its primary endpoint. The drug "is a novel oral product candidate of Testosterone (T) containing Testosterone Undecanoate (TU) that is designed to help restore normal T levels in males for conditions associated with a deficiency or absence of endogenous testosterone."

After a much higher open, Lipocine immediately peaked at $5.14 and reversed course as profit-takes swarmed the stock. That marks the first time it has been over $5.00 since October 12, 2016, when it peaked at $5.42, but weakened to end that session at $4.60.

At this time, the retreat is attempting to find support near the top of Monday's range ($4.12) as $4.16 stands as the current low for the session.