LPCN · CIK 0001535955 · FY2025 live · 2025-12-31
Lipocine Inc.
View as
Model
Classic Z
FY2025
−14.69
Zone
Distress
Prior
—
Market DD
—
1y PD
—
Meridian Rank
6.64
0–100 · Classic Z tape · not a PD
Book standing
5
Year change
—
Market PD
—
O-score
11
Events on this name
Same published rows as Today. Not a live recompute.
Market PD unavailable
watch · 41
−14.69
Z″ −32.69
Score −14.69 · distress below 1.80, grey to 2.99, safe at 3.00 and above.
Classic Z factor contributions
X1 Working capital / assets
Short-term liquidity versus the size of the balance sheet.
0.841.2 × = 1.01X2 Retained earnings / assets
Cushion from years of profits. Share buybacks can push this negative at otherwise healthy firms.
−12.311.4 × = −17.24X3 EBIT / assets
Operating return on assets. Highest weight in the original model.
−0.613.3 × = −2.01X4 Book equity / liabilities
Book equity versus the liability stack. Mega-caps often look greyer here than they would if X4 used market cap.
5.730.6 × = 3.44X5 Sales / assets
Asset turnover — how much revenue the asset base supports.
0.121 × = 0.12
Five-year path
Need two annual 10-Ks to draw a path. The desk will pull this issuer’s filings rather than invent a series.
Overview
rule-v1
Lipocine Inc. is on classic Z at −14.69 (distress) for FY2025, from an SEC 10-K. Retained earnings / assets is the line that sets the print. This is the first live year on the desk. No market tape loaded. Classic Z was fit on manufacturers; buybacks can send retained earnings negative at otherwise healthy issuers, and X4 is book equity, not market cap.
Book screen Distress; market PD —. Tape not priced — not a single default call.
Market DD · naive Merton
No market tape yet.
Pull a year of closes (Yahoo, Nasdaq if Yahoo is limited) and size equity from Nasdaq cap or EDGAR shares. Distance-to-default and 1-year PD stay blank until then.
Sector peers
Closest Classic Z scores · 10th percentile in Healthcare.
- ECORDistresselectroCore, Inc.−14.71
- AGENDistressAGENUS INC−14.60
- TOVXDistressTheriva Biologics, Inc.−14.57
- LXRXDistressLEXICON PHARMACEUTICALS, INC.−14.51
- DCOYDistressDecoy Therapeutics Inc.−14.41
- XAIRDistressBeyond Air, Inc.−14.39
- GOSSDistressGossamer Bio, Inc.−14.21
- ICUDistressSeaStar Medical Holding Corp−15.25
KPI widgets
Current assets
$17M
Total assets
$17M
Current liabilities
$3M
Total liabilities
$3M
Working capital
$14M
Retained earnings
−$209M
EBIT
−$10M
Total sales
$2M
Book equity
$14M
Accession 0001493152-26-009411. Live rank is the latest 10-K on EDGAR (FY2025, period 2025-12-31). Classic Z is the live score. View as does not rewrite the live rank. X4 is book equity. Pulled 13 Sept 2026.