Quick Answer
Lipocine Inc. reported R&D Expense of $8.58 million for fiscal year 2025.
Lipocine Inc. R&D Expense — Annual History
| Fiscal Year | R&D Expense | YoY Change |
|---|---|---|
| 2025 | $8.58M | +16.8% |
| 2024 | $7.35M | -27.7% |
| 2023 | $10.18M | +18.9% |
| 2022 | $8.56M | +11.6% |
| 2021 | $7.67M | -21.4% |
| 2020 | $9.75M | +30.5% |
| 2019 | $7.47M | +15.5% |
| 2018 | $6.46M | -41.3% |
| 2017 | $11.00M | +36.3% |
| 2016 | $8.08M | -35.8% |
| 2015 | $12.58M | -18.7% |
| 2014 | $15.48M | +202.2% |
| 2013 | $5.12M | +124.6% |
| 2012 | $2.28M | — |
Quarterly R&D Expense
| Quarter Ending | R&D Expense | YoY | QoQ |
|---|---|---|---|
| September 30, 2025 | $2.71M | +70.8% | +26.7% |
| June 30, 2025 | $2.14M | +14.0% | +101.3% |
| March 31, 2025 | $1.06M | -62.3% | -33.0% |
| September 30, 2024 | $1.59M | -44.9% | -15.4% |
| June 30, 2024 | $1.87M | -25.5% | -33.5% |
| March 31, 2024 | $2.82M | -9.3% | -2.1% |
| September 30, 2023 | $2.88M | +37.1% | +14.5% |
| June 30, 2023 | $2.52M | -13.2% | -19.0% |
- Lipocine Inc. showed an increase of +16.8% in R&D Expense compared to the prior fiscal year.
- Over the 2012–2025 period, Lipocine Inc.’s r&d expense has grown by 276.3% (from $2.28 million to $8.58 million).
- The most recent figure is from Lipocine Inc.’s fiscal year 2025 report (Form 10-K), filed with the SEC on March 10, 2026.
- All figures are sourced from SEC EDGAR XBRL filings, last verified June 17, 2026.
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