Second Drug Safety Monitoring Board (DSMB) meeting update planned for mid-January 2026 Topline results on track for the second quarter of 2026 SALT LAKE CITY, Dec. 16, 2025 /PRNewswire/ -- Lipocine Inc. (NASDAQ: LPCN), a biopharmaceutical company leveraging its proprietary technology platform to develop innovative products with effective oral delivery, today announced 80% completion of enrollment in the ongoing Phase 3 clinical trial evaluating LPCN 1154 (oral brexanolone) for the rapid relief treatment ...

Financial Data and Key Metrics Changes - The company reported a 3% revenue growth in Q3 2025 compared to Q3 2024, driven by strong commercial execution [47] - Launch products generated $257 million in revenue, representing a 67% year-over-year growth [47] - Non-GAAP diluted EPS grew by 18% for the quarter [50] Business Line Data and Key Metrics Changes - The MS business showed resilient performance, positively impacted by gross-to-net adjustments and strong demand for VUMERITY, despite generic erosion of TECFIDERA in Europe [48][52] - LEKEMBY achieved global revenues growing 82% compared to Q3 2024, with a prescriber base growth of 14% quarter-over-quarter [38] - Skyclaris saw a 30% year-over-year revenue growth, now available in 34 countries [42] - ZERZUVEY experienced a 19% revenue growth compared to the previous quarter, with 80% of prescriptions written as first-line therapy [45] Market Data and Key Metrics Changes - The anti-amyloid market grew approximately 15% this quarter, indicating a positive trend in the market dynamics [41] - Blood-based biomarker testing is expected to reach up to 350,000 tests this year, a 75% increase compared to the previous year [41] Company Strategy and Development Direction - The company is focused on expanding its early-stage pipeline while maintaining a robust late-stage pipeline with 10 Phase III or Phase III-ready programs [18][28] - Strategic acquisitions, such as Alcion Therapeutics, are aimed at enhancing the company's capabilities in treating various diseases [15] - The company aims to deliver $1 billion in gross savings and $800 million in net savings under the Fit for Growth initiative by 2025 [62] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the strong business trends observed in Q3, leading to an improved revenue outlook [50] - The company anticipates increased competitive pressures on the ex-U.S. MS business, particularly for TECFIDERA in Europe [61] - Management remains optimistic about the potential of LEKEMBY in the presymptomatic Alzheimer's disease population [35] Other Important Information - The company generated approximately $1.2 billion of free cash flow in the quarter, exiting with $4 billion in cash and marketable securities [58] - The company is actively working on securing reimbursement in European markets for Skyclaris and expanding its geographic reach [55] Q&A Session Summary Question: Impact of EVOQUE trial on Lykkembe franchise - Management indicated that the results of the EVOQUE trial will determine the impact on the Lykkembe franchise and the need for a broader portfolio [66][68] Question: Growth potential in immunology - Management highlighted the company's historical presence in immunology and the potential for growth in rare immunology and overlapping areas with existing experience [72][74] Question: Confidence in late-stage pipeline - Management expressed confidence in the late-stage pipeline, citing compelling Phase II data and a thoughtful progression in derisking the pipeline [79][81] Question: Early experience with LAKEMBY subcutaneous maintenance - Management reported positive feedback from payers and healthcare providers regarding the subcutaneous maintenance option, anticipating gradual uptake [88][90] Question: Commercial implications of prevention studies - Management acknowledged the potential commercial implications of positive trial results but emphasized the need for improved capacity and referral quality in the healthcare system [96][98]

Core Viewpoint - Biogen Inc. has received marketing authorization from the European Commission for ZURZUVAE® (zuranolone), the first and only treatment indicated for postpartum depression (PPD) in the European Union, representing a significant advancement in maternal health care [1][2][7]. Group 1: Product Information - ZURZUVAE is a once-daily, oral treatment for PPD, administered over a 14-day period, and can show symptom improvement as early as day 3 [2][6]. - The approval is based on the SKYLARK study, which demonstrated a significant mean reduction in depression severity as measured by the Hamilton Rating Scale for Depression (HAMD-17) at day 15 compared to placebo, with all key secondary endpoints also met [4][7]. - The most common side effects reported in patients treated with ZURZUVAE 50 mg include somnolence, dizziness, and sedation, occurring in 5% or more of patients [4]. Group 2: Market Context - Up to 20% of women in Europe experience symptoms of PPD, which is often underdiagnosed and undertreated due to varying clinical guidelines across countries [3][7]. - PPD is a leading cause of maternal mortality in Europe, highlighting the critical need for effective treatment options [3][7]. Group 3: Regulatory and Development Background - ZURZUVAE was previously approved by the U.S. Food and Drug Administration in August 2023 and received regulatory approval in the U.K. in August 2025 [5][8]. - Biogen entered into a collaboration with Sage Therapeutics in 2020 to develop and commercialize ZURZUVAE, with Supernus Pharmaceuticals completing the acquisition of Sage Therapeutics in July 2025 [7][8].

Core Insights - Lipocine Inc. has initiated a pivotal Phase 3 clinical trial for LPCN 1154, an oral treatment for postpartum depression (PPD), with the first patient dosed [1][3] - The trial aims to support a New Drug Application (NDA) submission in mid-2026, following FDA feedback that allows for an outpatient study without medical monitoring [2][5] - LPCN 1154 is designed to provide rapid relief for PPD, addressing a significant unmet medical need in the treatment landscape [5][6] Company Overview - Lipocine is a biopharmaceutical company focused on developing innovative products with effective oral delivery, targeting large markets with significant unmet medical needs [9][10] - The company has multiple drug candidates in development, including LPCN 2101 for refractory epilepsy and LPCN 2203 for essential tremor, alongside LPCN 1154 for PPD [10] Clinical Trial Details - The Phase 3 trial is a two-arm, randomized, blinded study involving women aged 15 and older with severe PPD, assessing the efficacy of LPCN 1154 compared to a placebo [3][4] - The primary endpoint is the change in the Hamilton Depression Rating Scale (HAM-D), with secondary endpoints including the Montgomery-Åsberg Depression Rating Scale (MADRS) and Hamilton Anxiety Rating Scale (HAM-A) [4] Market Context - Postpartum depression is a major depressive disorder that can affect 20-40% of obstetric patients, with traditional antidepressants having slow onset and side effects [7] - LPCN 1154 aims to offer a differentiated treatment option with a 48-hour dosing regimen, potentially becoming the standard of care for PPD [5][6]