Lipocine Inc (NASDAQ:LPCN) is taking a double digit hit in the pre-market session after the news.
Market Action
As of 7:53, LPCN stock fell $0.18 or 13.14% to $1.19 on moderate volume of 113K shares. The stock has lost almost 405 from its 52-week high of $2.42. Potential turning points in LPCN are 1.40 and 1.43 above and 1.35 and 1.33 below.
Clarus Wins Patent Infringement Lawsuit Brought By Lipocine On JATENZO
- US District Court for the District of Delaware has granted Clarus Therapeutics’ motion for summary judgment against remaining patents in patent infringement case brought by Lipocine Inc. (LPCN) regarding Clarus’s oral testosterone replacement product JATENZO.
- Federal Circuit Judge William Bryson, a Senior Circuit Judge of the U.S. Court of Appeals for the Federal Circuit, sitting by designation in the U.S. District Court for the District of Delaware found all of the asserted Lipocine patent claims invalid.
- Clarus’s defense of inequitable conduct, to be tried before Judge Bryson, remains pending, and its disposition is expected to be addressed by Clarus and the Court at a future date. The action for patent infringement was brought by Lipocine against Clarus on April 2, 2019, arising out of Clarus’s marketing of JATENZO, an oral testosterone replacement product approved by the FDA in March of 2019, and launched in March of 2020.
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