Lipocine rises on licensing deal for testosterone therapy in US, Canada – XM

BUZZ-Lipocine rises on licensing deal for testosterone therapy in US, Canada

** Shares of drug developer Lipocine LPCN.O rise 6.5% to $4.1 premarket

** Co enters into license agreement with Verity Pharma to market its testosterone replacement therapy, Tlando, in the United States and Canada

** Under terms of the deal, co to receive a license fee of $11 million

** Co to also receive up to $259 mln in development and commercial sales milestones

** Under the agreement, Verity Pharma will be responsible for regulatory and marketing obligations in the U.S. and Canada, and all further development of the therapy

** LPCN will retain all rights to the Tlando franchise for territories outside the U.S. and Canada

** Tlando was approved by the U.S. FDA in 2022 as an oral testosterone replacement therapy in adult males for conditions associated with a deficiency or absence of endogenous testosterone

** Stock fell 58.1% in the last 12 months

Reporting by Sneha S K

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Lipocine rises on licensing deal for testosterone therapy in US, Canada - XM