Lipocine rises on plans to cut spend on some drugs

Lipocine

26/09/2022 14:01

** Drug developer Lipocine Inc's shares  LPCN.O  rise 4.7%
to $0.52 before the bell
    ** Co says it intends to focus on treatments for central
nervous system (CNS) disorders and does not plan any significant
investments in any of its other treatments  urn:newsml:reuters.com:*:nPnb7yrh1a
    ** Instead, co will develop those treatments, including
liver disease drug LPCN 1144, through partnerships
    ** LPCN had $37.4 mln in cash and equivalents, as of June
30, which it expects will be sufficient to support operations
until Sept. 30, 2023 
    ** Up to Friday's close, stock had fallen ~50% YTD
 (Reporting by Khushi Mandowara)
 ((Khushi.Mandowara@thomsonreuters.com;))