Lipocine rises on licensing deal for testosterone therapy in US, Canada
** Shares of drug developer Lipocine LPCN.O rise 6.5% to $4.1 premarket
** Co enters into license agreement with Verity Pharma to market its testosterone replacement therapy, Tlando, in the United States and Canada
** Under terms of the deal, co to receive a license fee of $11 million
** Co to also receive up to $259 mln in development and commercial sales milestones
** Under the agreement, Verity Pharma will be responsible for regulatory and marketing obligations in the U.S. and Canada, and all further development of the therapy
** LPCN will retain all rights to the Tlando franchise for territories outside the U.S. and Canada
** Tlando was approved by the U.S. FDA in 2022 as an oral testosterone replacement therapy in adult males for conditions associated with a deficiency or absence of endogenous testosterone
** Stock fell 58.1% in the last 12 months
Reporting by Sneha S K
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