Lipocine falls on approval of reverse stock split, wider Q1 loss

Lipocine

12/05/2023 20:12

** Shares of drug developer Lipocine  LPCN.O  fall 12.1% to
$4.26
    ** Co says board has approved reverse stock split of
1-for-17 of its common stock
    ** Co's shares will begin trading on split-adjusted basis on
Nasdaq on May 12
    ** Co has 88.51 mln shares outstanding- Refinitiv  
    ** Co posts wider Q1 adj. loss of 4 cents per share vs
analysts' estimates of 2 cents loss per share 
    ** Including session's losses, stock has fallen 37.15% YTD

 (Reporting by Sruthi Narasimha Chari in Bengaluru)
 ((Sruthinarasimha.chari@thomsonreuters.com))