Lipocine (LPCN) Research & Development (2012 - 2025)
Lipocine (LPCN) recorded Research & Development of $2.71 million in Q3 2025, up 70.8% from $1.59 million a year earlier and up 26.7% from the prior quarter.
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Analysis
Lipocine (LPCN) Research & Development (2012 - 2025) Analysis & Trends
On a TTM basis, Lipocine's Research & Development came in at $6.98 million as of Sep 30, 2025, down 12.3% year-over-year; for FY2024, it was $7.35 million, down 27.7% from FY2023.
- Annual Research & Development has a five-year compound annual growth rate of -0.3% (FY2019 to FY2024).
- Across earlier years, Research & Development came in at $10.18 million in FY2023 (+18.9%), $8.56 million in FY2022 (+11.6%), $7.67 million in FY2021 (-21.4%) and $9.75 million in FY2020 (+30.5%).
- The Q3 2025 figure is the highest quarterly Research & Development since Q1 2024.
- On a year-over-year basis, Research & Development rose in three of the last eight quarters, with an average decline of 11.6%.
- Peak year-over-year performance for Research & Development in the last five years was growth of 97.9% in Q2 2022, against a decline of 62.3% in Q1 2025 at the low end.
- Per Business Quant, the preceding three quarters came in at $2.14 million (Q2 2025), $1.06 million (Q1 2025) and $1.07 million (Q4 2024).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | R&D (Qtr) |
|---|---|---|---|---|---|
| 1 | Johnson & Johnson | 655.56 Bn | 574.09 Bn | 17.26 Bn | 3.65 Bn |
| 2 | AbbVie | 470.94 Bn | 444.10 Bn | 12.70 Bn | 2.34 Bn |
| 3 | Merck | 367.14 Bn | 321.57 Bn | 12.21 Bn | 9.74 Bn |
| 4 | Novartis Ag | 280.33 Bn | 236.20 Bn | 11.24 Bn | -2.85 Bn |
| 5 | Astrazeneca | 257.78 Bn | 231.34 Bn | 12.86 Bn | -4.05 Bn |
| 6 | Amgen | 226.04 Bn | 181.44 Bn | 7.24 Bn | 1.87 Bn |
| 7 | Gilead Sciences | 188.89 Bn | 163.01 Bn | 6.22 Bn | 1.76 Bn |
| 8 | Pfizer | 163.75 Bn | 110.70 Bn | 10.94 Bn | 2.81 Bn |
| 9 | Vertex Pharmaceuticals | 133.68 Bn | 105.69 Bn | 2.84 Bn | 993.80 Mn |
| 10 | Lipocine | 11.33 Mn | -56.39 Mn | - | - |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Sep 30, 2025 | 2.71 Mn |
| Jun 30, 2025 | 2.14 Mn |
| Mar 31, 2025 | 1.06 Mn |
| Dec 31, 2024 | 1.07 Mn |
| Sep 30, 2024 | 1.59 Mn |
| Jun 30, 2024 | 1.87 Mn |
| Mar 31, 2024 | 2.82 Mn |
| Dec 31, 2023 | 1.67 Mn |
| Sep 30, 2023 | 2.88 Mn |
| Jun 30, 2023 | 2.52 Mn |
| Mar 31, 2023 | 3.11 Mn |
| Dec 31, 2022 | 1.67 Mn |
| Sep 30, 2022 | 2.10 Mn |
| Jun 30, 2022 | 2.90 Mn |
| Mar 31, 2022 | 1.89 Mn |
| Dec 31, 2021 | 2.25 Mn |
| Sep 30, 2021 | 2.37 Mn |
| Jun 30, 2021 | 1.46 Mn |
| Mar 31, 2021 | 1.58 Mn |
| Dec 31, 2020 | 2.48 Mn |
API Access
Lipocine Research & Development 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=research-and-development&ticker=LPCN&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "research-and-development", "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=research-and-development&ticker=LPCN&period=max&api_key=YOUR_API_KEY");
const data = await res.json();