Lipocine

Q2 FY2026 EarningsQ2 FY26 missed consensus on revenue and profitability as the company pivoted its CNS strategy following a failed Phase 3 trial. Revenue of $0.19M missed the $0.21M expectation by 10.75%, while GAAP Net Loss of $2.62M was narrower than the anticipated $3.26M loss due to lower-than-expected R&D spending. Diluted EPS of -$0.32 beat the -$0.40 consensus primarily due to a 53.5% YoY increase in weighted average shares outstanding from ATM offerings, masking the underlying operational cash burn.