Lipocine (LPCN) Operating Expenses (2011 - 2025)
Lipocine's (LPCN) quarterly Operating Expenses came in at $3.5 million in Q3 2025, up 32.13% YoY from $2.6 million in Q3 2024, and up 14.81% on a QoQ basis from $3.0 million in Q2 2025.
Lipocine (LPCN) Operating Expenses (2011 - 2025) Analysis & Trends
Lipocine (LPCN) has 15 years of Operating Expenses data on file, last reported at $3.5 million in Q3 2025.
- Quarterly Operating Expenses rose 32.13% year-over-year to $3.5 million in Q3 2025, while the trailing twelve-month figure through Dec 2025 was $8.7 million (down 29.68% YoY) and the FY2024 annual result came in at $12.4 million, down 18.08% from the prior year.
- Operating Expenses advanced to $3.5 million in Q3 2025, from $3.0 million in the prior quarter.
- In the past five years, Operating Expenses ranged from a high of $4.4 million in Q1 2024 to a low of $1.9 million in Q4 2024.
- A 5-year average of $3.2 million and a median of $3.1 million in 2022 frame the typical range for Operating Expenses.
- Annual changes were most pronounced in 2023 — Operating Expenses jumped 40.3% — and 2025, when it sank 50.3%.
- Tracing LPCN's Operating Expenses over 5 years: stood at $3.3 million in 2021, then declined by 22.44% to $2.6 million in 2022, then increased by 9.71% to $2.8 million in 2023, then slumped by 30.74% to $1.9 million in 2024, then surged by 78.61% to $3.5 million in 2025.
- The last three Operating Expenses figures came in at $3.5 million (Q3 2025), $3.0 million (Q2 2025), and $2.2 million (Q1 2025), per Business Quant data.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Opex (Qtr) |
|---|---|---|---|---|---|
| 1 | Vertex Pharmaceuticals | 139.76 Bn | 131.91 Bn | 2.84 Bn | 2.09 Bn |
| 2 | Regeneron Pharmaceuticals | 86.51 Bn | 78.51 Bn | 3.93 Bn | 3.00 Bn |
| 3 | Argenx Se | 65.74 Bn | 60.56 Bn | 1.37 Bn | 2.89 Bn |
| 4 | Moderna | 59.39 Bn | 54.26 Bn | 52.00 Mn | 960.00 Mn |
| 5 | BeOne Medicines | 42.24 Bn | 37.15 Bn | 1.53 Bn | 1.21 Bn |
| 6 | Alnylam Pharmaceuticals | 31.78 Bn | 28.47 Bn | 992.69 Mn | 1.06 Bn |
| 7 | BioNTech SE | 28.65 Bn | 10.26 Bn | 668.28 Mn | -784.57 Mn |
| 8 | Insmed | 27.58 Bn | 26.42 Bn | 358.27 Mn | 427.03 Mn |
| 9 | Royalty Pharma | 27.22 Bn | 26.39 Bn | - | 541.02 Mn |
| 10 | Lipocine | 11.21 Mn | -12.70 Mn | - | - |
Historic Data
Download Data| Date | Value |
|---|---|
| Sep 30, 2025 | 3.48 Mn |
| Jun 30, 2025 | 3.03 Mn |
| Mar 31, 2025 | 2.18 Mn |
| Dec 31, 2024 | 1.95 Mn |
| Sep 30, 2024 | 2.63 Mn |
| Jun 30, 2024 | 3.38 Mn |
| Mar 31, 2024 | 4.39 Mn |
| Dec 31, 2023 | 2.81 Mn |
| Sep 30, 2023 | 3.92 Mn |
| Jun 30, 2023 | 3.96 Mn |
| Mar 31, 2023 | 4.39 Mn |
| Dec 31, 2022 | 2.56 Mn |
| Sep 30, 2022 | 2.90 Mn |
| Jun 30, 2022 | 4.03 Mn |
| Mar 31, 2022 | 3.13 Mn |
| Dec 31, 2021 | 3.30 Mn |
| Sep 30, 2021 | 3.59 Mn |
| Jun 30, 2021 | 2.99 Mn |
| Mar 31, 2021 | 3.11 Mn |
| Dec 31, 2020 | 4.80 Mn |