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Jan. 17, 2019, 9:10 a.m. EST

Lipocine's stock rockets on premarket leading volume after upbeat liver fat study results

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By Tomi Kilgore

Shares of Lipocine Inc. /zigman2/quotes/202742746/composite LPCN -10.27% rocketed 49% toward a one-year high in very active premarket trade Thursday, after the pharmaceutical company reported upbeat interim results of a study of its treatment for non-alcoholic steatohepatitis (NASH). Volume ballooned to 3.2 million shares, compared with the full-day average of about 88,500 shares, and enough to make the stock the most actively traded ahead of the open. The company said its LPCN 1144 NASH treatment showed an "absolute mean reduction" from baseline of 7.6% liver fat and deomonstrated a 38% relative mean liver fat reduction from baseline. The responder rate, in which at least a 4.1% absolute reduction in liver fat from baseline was experienced was 86%. The study showed that LPCN 1144 was well tolerated. "We are very encouraged by these results especially as the observed liver fat reductions are the largest of any well-tolerated oral product candidate within approximately eight weeks," said Chief Executive Mahesh Patel. The stock has run up 18% over the past three months through Wednesday, while the iShares Nasdaq Biotechnology ETF /zigman2/quotes/206189322/composite IBB -1.36% has lost 5.3% and the S&P 500 /zigman2/quotes/210599714/realtime SPX +0.19% has shed 6.9%.

/zigman2/quotes/202742746/composite
US : U.S.: Nasdaq
$ 0.63
-0.07 -10.27%
Volume: 1.06M
Aug. 16, 2022 4:00p
P/E Ratio
16.29
Dividend Yield
N/A
Market Cap
$62.33 million
Rev. per Employee
$1.28M
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/zigman2/quotes/206189322/composite
US : U.S.: Nasdaq
$ 132.99
-1.83 -1.36%
Volume: 1.45M
Aug. 16, 2022 4:00p
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/zigman2/quotes/210599714/realtime
US : S&P US
4,305.20
+8.06 +0.19%
Volume: 2.22B
Aug. 16, 2022 4:20p
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