Lipocine (LPCN) Operating Expenses (2011 - 2025)
Lipocine (LPCN) reported Operating Expenses of $3.48 million for Q3 2025, up 32.1% from $2.63 million a year earlier and up 14.8% from the prior quarter.
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Analysis
Lipocine (LPCN) Operating Expenses (2011 - 2025) Analysis & Trends
Over the twelve months ended Sep 30, 2025, Lipocine's Operating Expenses came in at $10.63 million, down 19.6% year-over-year; for FY2024, it was $12.35 million, down 18.1% from FY2023.
- Operating Expenses has a five-year compound annual growth rate of -1.1% (FY2019 to FY2024).
- By year, Operating Expenses came in at $15.08 million in FY2023 (+19.5%), $12.62 million in FY2022 (-2.9%), $13 million in FY2021 (-27.8%) and $18 million in FY2020 (+37.7%).
- The Q3 2025 figure ranks as the highest quarterly Operating Expenses since Q1 2024.
- Year over year, Operating Expenses gained in two of the last eight quarters, with an average decline of 12.1%.
- The high point for year-over-year Operating Expenses in five years was Q1 2023 (growth of 40.3%); the low point was Q1 2025 (a decline of 50.3%).
- Per Business Quant data, the three quarters before Q3 2025 came in at $3.03 million (Q2 2025), $2.18 million (Q1 2025) and $1.95 million (Q4 2024).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Opex (Qtr) |
|---|---|---|---|---|---|
| 1 | Eli Lilly | 1,130.22 Bn | 1,098.81 Bn | 19.71 Bn | 7.95 Bn |
| 2 | Johnson & Johnson | 613.62 Bn | 532.15 Bn | 17.26 Bn | 10.12 Bn |
| 3 | AbbVie | 501.46 Bn | 474.57 Bn | 12.70 Bn | 10.56 Bn |
| 4 | Merck | 366.84 Bn | 321.22 Bn | 12.21 Bn | 12.80 Bn |
| 5 | Novartis Ag | 297.85 Bn | 261.84 Bn | 11.24 Bn | 6.09 Bn |
| 6 | Astrazeneca | 261.66 Bn | 235.34 Bn | 12.86 Bn | 9.70 Bn |
| 7 | Amgen | 235.39 Bn | 190.79 Bn | 7.24 Bn | 6.54 Bn |
| 8 | Gilead Sciences | 190.66 Bn | 164.86 Bn | 6.22 Bn | 18.20 Bn |
| 9 | Pfizer | 169.57 Bn | 116.22 Bn | 10.94 Bn | 6.68 Bn |
| 10 | Lipocine | 8.82 Mn | -58.89 Mn | - | - |
Historic Data
Download Data
Historic 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 |
API Access
Lipocine Operating Expenses API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=operating-expenses&ticker=LPCN&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "operating-expenses", "ticker": "LPCN", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=operating-expenses&ticker=LPCN&period=max&api_key=YOUR_API_KEY");
const data = await res.json();