Lipocine Management

Management criteria checks 3/4

Lipocine's CEO is Mahesh Patel, appointed in Jan 1997, has a tenure of 27.83 years. total yearly compensation is $860.34K, comprised of 61% salary and 39% bonuses, including company stock and options. directly owns 2.01% of the company’s shares, worth $626.25K. The average tenure of the management team and the board of directors is 7 years and 10.8 years respectively.

Key information

Mahesh Patel

Chief executive officer

US$860.3k

Total compensation

CEO salary percentage	61.0%
CEO tenure	27.8yrs
CEO ownership	2.0%
Management average tenure	7yrs
Board average tenure	10.8yrs

Recent management updates

Recent updates

Lipocine soars 9% on FDA greenlight for Phase 2 LPCN 1154 study in postpartum depression

Jun 14

Lipocine competitor prevails in patent infringement lawsuit for Jatenzo

May 26

When Will Lipocine Inc. (NASDAQ:LPCN) Turn A Profit?

May 11

Lipocine EPS beats by $0.01

May 06

Lipocine Inc. (NASDAQ:LPCN): Are Analysts Optimistic?

Jan 26

Lipocine announces positive results from phase 2biopsy-confirmed NASH study

Jan 12

FDA Ok's Lipocine's testosterone replacement therapy, tentatively

Dec 09

Lipocine (NASDAQ:LPCN) Has Debt But No Earnings; Should You Worry?

Dec 04

Lipocine EPS misses by $0.01

Nov 10

Lipocine: TLANDO Might Become A Potential TRT Option In Patients With COVID-19 Infection

Nov 06

CEO Compensation Analysis

How has Mahesh Patel's remuneration changed compared to Lipocine's earnings?
Date	Total Compensation	Salary	Company Earnings
Jun 30 2024	n/a	n/a	-US$8m
Mar 31 2024	n/a	n/a	-US$9m
Dec 31 2023	US$860k	US$525k	-US$16m
Sep 30 2023	n/a	n/a	-US$16m
Jun 30 2023	n/a	n/a	-US$12m
Mar 31 2023	n/a	n/a	-US$11m
Dec 31 2022	US$884k	US$494k	-US$11m
Sep 30 2022	n/a	n/a	US$4m
Jun 30 2022	n/a	n/a	US$3m
Mar 31 2022	n/a	n/a	-US$754k
Dec 31 2021	US$1m	US$471k	-US$634k
Sep 30 2021	n/a	n/a	-US$18m
Jun 30 2021	n/a	n/a	-US$19m
Mar 31 2021	n/a	n/a	-US$19m
Dec 31 2020	US$994k	US$457k	-US$21m
Sep 30 2020	n/a	n/a	-US$20m
Jun 30 2020	n/a	n/a	-US$18m
Mar 31 2020	n/a	n/a	-US$16m
Dec 31 2019	US$521k	US$457k	-US$13m
Sep 30 2019	n/a	n/a	-US$13m
Jun 30 2019	n/a	n/a	-US$12m
Mar 31 2019	n/a	n/a	-US$12m
Dec 31 2018	US$1m	US$439k	-US$12m
Sep 30 2018	n/a	n/a	-US$14m
Jun 30 2018	n/a	n/a	-US$16m
Mar 31 2018	n/a	n/a	-US$19m
Dec 31 2017	US$1m	US$435k	-US$21m

Compensation vs Market: Mahesh's total compensation ($USD860.34K) is above average for companies of similar size in the US market ($USD656.26K).

Compensation vs Earnings: Mahesh's compensation has been consistent with company performance over the past year.

CEO

Mahesh Patel (67 yo)

27.8yrs

Tenure

US$860,343

Compensation

Dr. Mahesh V. Patel, Ph D., co-founded Lipocine Inc. in 1997 and has also been its President and Chief Executive Officer since 1997 and serves as its Interim Principal Financial Officer since January 31, 2...

Leadership Team

Name	Position	Tenure	Compensation	Ownership
Mahesh Patel	Co-Founder	27.8yrs	US$860.34k	2.01% $ 626.2k
Krista Fogarty	Principal Accounting Officer & Corporate Controller	6.1yrs	US$321.07k	0.014% $ 4.3k
Nachiappan Chidambaram	Senior Vice President of Research & Development	1.9yrs	US$385.71k	0.074% $ 23.0k
Logan Morse	Vice President of Sales	7.6yrs	US$633.01k	no data
Anthony DelConte	Chief Medical Director	7yrs	no data	no data

7.0yrs

Average Tenure

56yo

Average Age

Experienced Management: LPCN's management team is seasoned and experienced (7 years average tenure).

Board Members

Name	Position	Tenure	Compensation	Ownership
Mahesh Patel	Co-Founder	27.8yrs	US$860.34k	2.01% $ 626.2k
Richard Ono	Independent Director	10.8yrs	US$75.03k	0.016% $ 4.8k
Leslie Benet	Member of Scientific Advisory Board	no data	no data	no data
Ronald Borchardt	Member of Scientific Advisory Board	no data	no data	no data
Jeffrey Fink	Independent Director	10.8yrs	US$79.66k	0.0072% $ 2.3k
George Zografi	Member of Scientific Advisory Board	no data	no data	no data
Tsuneji Nagai	Member of Scientific Advisory Board	no data	no data	no data
Alan Hofmann	Member of Scientific Advisory Board	no data	no data	no data
Norman Ho	Member of Scientific Advisory Board	no data	no data	no data
Rex Hjelm	Member of Scientific Advisory Board	no data	no data	no data
John Higuchi	Director	21.8yrs	US$62.28k	0.76% $ 237.8k
Spyridon Papapetropoulos	Lead Independent Director & Chairman of the Board	2.6yrs	US$91.91k	0.024% $ 7.5k

10.8yrs

Average Tenure

66.5yo

Average Age

Experienced Board: LPCN's board of directors are seasoned and experienced ( 10.8 years average tenure).

Lipocine Management

Management criteria checks 3/4

Key information

Recent management updates

Lipocine Inc., Annual General Meeting, Jun 05, 2024

Lipocine Inc. Announces Senior Leadership Appointments to Advance Its CNS-Focused Pipeline

Insufficient new directors

Lipocine Inc., Annual General Meeting, Jun 08, 2022

Lipocine Inc. Announces Board Appointments

Co-Founder exercised options and sold US$68k worth of stock

Recent updates

Lipocine Inc. Announces Positive Oral Brexanolone Quantitative EEG Results

Price target decreased by 35% to US$21.50

New major risk - Revenue and earnings growth

Lipocine Announces LPCN 1154 Meets Bioequivalence with IV Brexanolone in Pivotal Study

Lipocine Inc. Presents 52 Week Results from LPCN 1148 Phase 2 Study in Late-Breaking Session at EASL Congress 2024

First quarter 2024 earnings released: EPS: US$0.66 (vs US$0.74 loss in 1Q 2023)

Lipocine Announces Completion of Dosing in Pivotal Study of Postpartum Depression Candidate, LPCN 1154

Lipocine Inc., Annual General Meeting, Jun 05, 2024

Lipocine Inc. Announces Positive LPCN 2401 Clinical Results Showing Improved Body Composition in Participants with Obesity

Lipocine Inc. Announces Positive Week 52 Results from LPCN 1148 Phase 2 Study in Patients with Cirrhosis

Lipocine Announces First Cohort Dosed in Pivotal Study of LPCN 1154

Price target decreased by 13% to US$33.00

Lipocine Announces Confirmation of Dosing Regimen for Pivotal Study of LPCN 1154

New minor risk - Share price stability

Consensus EPS estimates fall by 27%

New major risk - Revenue and earnings growth

Lipocine Inc. Completes Successful Meeting with FDA on LPCN 1154 in Postpartum Depression

New minor risk - Shareholder dilution

Lipocine Inc. Announces Positive Topline Results from A Phase 2 Clinical Study of LPCN 1148

Consensus revenue estimates fall by 60%

Consensus revenue estimates fall by 20%

Lipocine Inc. Completes Enrollment of LPCN 1148 Phase 2 Study for Decompensated Cirrhosis

Lipocine Receives Non-Compliance Letter from Nasdaq Regarding an Additional 180-Day Grace Period

Price target increased to US$3.83

Price target increased to US$3.83

Lipocine Inc. Announces Senior Leadership Appointments to Advance Its CNS-Focused Pipeline

Lipocine Announces Strategic Realignment and Forward Focus on Treating CNS Disorders

Lipocine announces plans to focus on treating CNS disorders, shares rise ~5%

Lipocine Announces Favorable Regulatory Pathway on Oral LPCN 1154 for Post-Partum Depression (PPD)

Price target decreased to US$3.33

Lipocine Inc. Announces U.S. Food and Drug Administration Accept Its Investigational New Drug Application

Lipocine Receives Non-Compliance Letter from Nasdaq

Consensus revenue estimates fall by 67%

Lipocine Inc. Announces Positive LPCN 1144 Nash Open Label Extension Study Results

Price target decreased to US$3.83

Insufficient new directors

Lipocine Inc., Annual General Meeting, Jun 08, 2022

Lipocine Inc. Announces Board Appointments

Lipocine Inc. Announces Its Partner Received FDA Approval of TLANDO™

Consensus forecasts updated

Lipocine Inc. Announces Regulatory Guidance on LPCN 1144 in Non-Cirrhotic Nash

Does Lipocine (NASDAQ:LPCN) Have A Healthy Balance Sheet?

Lipocine Inc. Announces Peer-Reviewed Publication of Positive Phase 3 Study Results for TLANDO

Lipocine Inc. Announces Patient Dosed in its Phase 2 Study with LPCN 1148 for Management of Liver Cirrhosis

No longer forecast to breakeven

Price target decreased to US$3.75

Lipocine Inc. Announces FDA Affirmation of Class 1 NDA Resubmission for Tlando®

Is Lipocine (NASDAQ:LPCN) Using Debt Sensibly?

Lipocine Inc. Announces Positive Topline 36-Week Results from Phase 2 Proof of Concept Lift

No longer forecast to breakeven

Consensus forecasts updated

Lipocine Inc. Enters into Global Settlement and License Agreement with Clarus Therapeutics Inc. to Resolve All Outstanding Claims in On-Going Intellectual Property Litigation and Interference Proceeding

Price target decreased to US$4.50

Lipocine Inc. Announces U.S. Food and Drug Administration Clears Investigational New Drug Application to Initiate A Phase 2 Study to Evaluate the Therapeutic Potential of LPCN 1154

Lead Independent Director Stephen Hill has left the company

Lipocine soars 9% on FDA greenlight for Phase 2 LPCN 1154 study in postpartum depression

Clarus Therapeutics Defeats Lipocine's Patent Infringement Lawsuit On Summary Judgment

Lipocine competitor prevails in patent infringement lawsuit for Jatenzo

When Will Lipocine Inc. (NASDAQ:LPCN) Turn A Profit?

Lipocine EPS beats by $0.01

Lipocine Inc. (NASDAQ:LPCN): Are Analysts Optimistic?

New 90-day high: US$1.76

Lipocine Inc. Announces USPTO Declaration Of Interference Between Lipocine And Clarus Patent Applications

Lipocine Inc. Announces Positive Topline Phase 2 Results from LPCN 1144 Ongoing LiFT Study in Biopsy-Confirmed Nash Subjects

Lipocine announces positive results from phase 2biopsy-confirmed NASH study

Lipocine Announces Open Label Extension to Ongoing LPCN 1144 LiFT Study

Price target raised to US$5.33

Lipocine Announces Tentative Approval of Tlando™

FDA Ok's Lipocine's testosterone replacement therapy, tentatively