# EDGAR Filing Document

**Accession Number:** 0001535955
**File Stem:** 0001493152-26-027923
**Filing Date:** 2026-6
**Character Count:** 19862
**Document Hash:** 94b606ee9c274b98c237ff58182844e5
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001493152-26-027923.hdr.sgml**: 20260622

**ACCESSION NUMBER**: 0001493152-26-027923

**CONFORMED SUBMISSION TYPE**: S-8

**PUBLIC DOCUMENT COUNT**: 13

**FILED AS OF DATE**: 20260609

**DATE AS OF CHANGE**: 20260609

**EFFECTIVENESS DATE**: 20260609

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Lipocine Inc.
- **CENTRAL INDEX KEY:** 0001535955
- **STANDARD INDUSTRIAL CLASSIFICATION:** PHARMACEUTICAL PREPARATIONS [2834]
- **ORGANIZATION NAME:** 03 Life Sciences
- **EIN:** 990370688
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** S-8
- **SEC ACT:** 1933 Act
- **SEC FILE NUMBER:** 333-296639
- **FILM NUMBER:** 261076093

**BUSINESS ADDRESS:**
- **STREET 1:** 675 ARAPEEN DRIVE, SUITE 202
- **CITY:** SALT LAKE CITY
- **STATE:** X1
- **ZIP:** 84108
- **BUSINESS PHONE:** 801 994 7383

**MAIL ADDRESS:**
- **STREET 1:** 675 ARAPEEN DRIVE, SUITE 202
- **CITY:** SALT LAKE CITY
- **STATE:** X1
- **ZIP:** 84108

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** MARATHON BAR CORP
- **DATE OF NAME CHANGE:** 20111130

Registration No. 333-____________

As filed with the Securities and Exchange Commission on June 9, 2026

**UNITED STATES**

**SECURITIES AND EXCHANGE COMMISSION**

**Washington, D.C. 20549**

**FORM S-8**

**REGISTRATION STATEMENT**

**UNDER**

**THE SECURITIES ACT OF 1933**

**LIPOCINE INC.**

(Exact name of registrant as specified in its charter)

---

| | |
|:---|:---|
| **Delaware** | **99-0370688** |
| (State or other jurisdiction | (I.R.S. Employer |
| of incorporation or organization) | Identification No.) |

---

**675 Arapeen Drive, Suite 202**

**Salt Lake City, Utah 84108**

(Address, including zip code,

of registrant's principal executive offices)

**Sixth Amended and Restated Lipocine Inc. 2014 Stock and Incentive Plan**

(Full title of the plan)

**Mahesh V. Patel**

**President and Chief Executive Officer**

**LIPOCINE INC.**

**675 Arapeen Drive, Suite 202**

**Salt Lake City, Utah 84108**

**(801) 994-7383**

(Name, address and telephone number,

including area code, of agent for service of process)

Copies to:

**Dan Lyman**

**Dorsey & Whitney LLP**

**111 South Main Street, Suite 2100**

**Salt Lake City, Utah 84111**

**(801) 933-7360**

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company or an emerging growth company. See definitions of "large accelerated filer," "accelerated filer," "smaller reporting company," and "emerging growth company" in Rule12b-2 of the Exchange Act.

Large accelerated filer ☐ Accelerated filer ☐ <br> Non-accelerated filer ☒ Smaller reporting company ☒ <br> Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 7(a)(2)(B) of the Securities Act. ☐

**EXPLANATORY NOTE**

Lipocine Inc. (the "Registrant") has prepared this registration statement on Form S-8 (the "Registration Statement") to register an additional 663,418 shares of the Registrant's common stock, par value $0.0001 per share, for issuance under the Sixth Amended and Restated Lipocine Inc. 2014 Stock and Incentive Plan (the "2014 Plan"). Accordingly, pursuant to General Instruction E to Form S-8, the contents of the earlier registration statements relating to the 2014 Plan (Registration No. 333-197421, Registration No. 333-214492, Registration No. 333- 226664, and Registration No. 333-240197 (collectively, the "Prior Registration Statements")) filed with the Securities and Exchange Commission on July 15, 2014, November 8, 2016, August 8, 2018, and July 30, 2020 respectively. This Registration Statement relates to securities of the same class as that to which the Prior Registration Statements relate and is filed in accordance with General Instruction E to Form S-8. Accordingly, pursuant to General Instruction E, the Company hereby incorporates by reference herein the contents of the Prior Registration Statements and hereby deems such contents to be a part hereof, except as otherwise updated or modified by this Registration Statement.

**PART II**

**INFORMATION REQUIRED IN THE REGISTRATION STATEMENT**

**Item 3. Incorporation of Documents by Reference.**

The following documents, which have been filed with the Commission by the Registrant, are incorporated by reference in this Registration Statement, as of their respective dates:

&nbsp;&nbsp;&nbsp;&nbsp;(a) the
 Registrant's Annual Report on Form 10-K for the fiscal year ended [December 31, 2025](https://www.sec.gov/Archives/edgar/data/1535955/000149315226009411/form10-k.htm) ;

(b) the
 Registrant's Quarterly Report on Form 10-Q for the quarter ended [March 31, 2026](https://www.sec.gov/Archives/edgar/data/1535955/000149315226021637/form10-q.htm) ;

(c) the
 Registrant's Current Reports on Form 8-K filed on [January 12, 2026](https://www.sec.gov/Archives/edgar/data/1535955/000149315226001864/form8-k.htm) , [January 20, 2026](https://www.sec.gov/Archives/edgar/data/1535955/000149315226002785/form8-k.htm) , [February 18, 2026](https://www.sec.gov/Archives/edgar/data/1535955/000149315226007288/form8-k.htm) , [March 4, 2026](https://www.sec.gov/Archives/edgar/data/1535955/000149315226008852/form8-k.htm) , [March 10, 2026](https://www.sec.gov/Archives/edgar/data/1535955/000149315226009428/form8-k.htm) , [April 2, 2026](https://www.sec.gov/Archives/edgar/data/1535955/000149315226014835/form8-k.htm) , [April 21, 2026](https://www.sec.gov/Archives/edgar/data/1535955/000149315226018299/form8-k.htm) , [May 7, 2026](https://www.sec.gov/Archives/edgar/data/1535955/000149315226021712/form8-k.htm) , [May 18, 2026](https://www.sec.gov/Archives/edgar/data/1535955/000149315226024097/form8-k.htm) , [May 19, 2026](https://www.sec.gov/Archives/edgar/data/1535955/000149315226024365/form8-k.htm) , and [May 26, 2026](https://www.sec.gov/Archives/edgar/data/1535955/000149315226025270/form8-k.htm) ; and

(d) the
 description of the Registrant's Common Stock, par value $0.0001 per share, as contained in the Registration Statement on [Form S-3](https://www.sec.gov/Archives/edgar/data/1535955/000149315223042500/forms-3.htm) filed on November 22, 2023, as updated by the description of the Registrant's Common Stock contained in [Exhibit 4.6](https://www.sec.gov/Archives/edgar/data/1535955/000149315222006353/ex4-6.htm) of
 the Annual Report on Form 10-K for the fiscal year ended December 31, 2025, including any amendment or report filed for the purpose
 of updating such description.

All documents filed by the Registrant pursuant to Sections 13(a), 13(c), 14 and 15(d) of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), subsequent to the date hereof and prior to the filing of a post-effective amendment which indicates that all securities offered hereby have been sold or which deregisters all securities remaining unsold shall be deemed to be incorporated by reference herein and to be a part hereof from the respective dates of filing of such documents.

**Item 8. Exhibits.**

---

| | |
|:---|:---|
| **Exhibit Number** | **Description** |
| 4.1 | [Amended and Restated Certificate of Incorporation (incorporated by reference to Exhibit 3.2 to the Registrant's Current Report on Form 8-K filed on July 25, 2013).](https://www.sec.gov/Archives/edgar/data/1535955/000119312513301353/d562293dex31.htm) |
| 4.2 | [Certificate of Amendment to the Amended and Restated Certificate of Incorporation of Lipocine Inc. (incorporated by reference to Exhibit 3.4 to the Registrant's Current Report on Form 8-K filed on June 28, 2022).](https://www.sec.gov/Archives/edgar/data/1535955/000149315222017959/ex3-4.htm) |
| 4.3 | [Certificate of Amendment to the Amended and Restated Certificated of Incorporation of Lipocine Inc. (incorporated by reference to Exhibit 3.2 to the Registrant's Current Report on Form 8-K filed on May 11, 2023).](https://www.sec.gov/Archives/edgar/data/1535955/000149315223016326/ex3-2.htm) |
| 4.4 | [Certificate of Amendment to the Amended and Restated Certificate of Incorporation of Lipocine Inc. (incorporated by reference to Exhibit 3.4 to the Registrant's Current Report on Form 8-K filed on June 4, 2025).](https://www.sec.gov/Archives/edgar/data/1535955/000164117225013603/ex3-4.htm) |
| 4.5 | [Amended and Restated Bylaws (incorporated by reference to Exhibit 3.3 to the Registrant's Form 8-K filed on July 25, 2013).](https://www.sec.gov/Archives/edgar/data/1535955/000119312513301353/d562293dex33.htm) |
| 4.6 | [Amendment to the Amended and Restated Bylaws of Lipocine Inc. (incorporated by reference to Exhibit 3.1 to the Registrant's Form 8-K filed on March 10, 2023).](https://www.sec.gov/Archives/edgar/data/1535955/000149315223007176/ex3-1.htm) |
| 5.1 | [Opinion of Dorsey & Whitney LLP.\*](ex5-1.htm) |
| 23.1 | [Consent of Tanner LLP, independent registered public accounting firm.\*](ex23-1.htm) |
| 23.2 | [Consent of Dorsey & Whitney LLP (included in Exhibit 5.1 to this Registration Statement).\*](ex5-1.htm) |
| 24.1 | [Power of Attorney (included with the signatures in Part II of this Registration Statement).\*](#POA_001) |
| 99.1 | [Sixth Amended and Restated Lipocine Inc. 2014 Stock and Incentive Plan (incorporated by reference to Exhibit 10.1 to the Registrant's Form 8-K filed on June 4, 2026).](https://www.sec.gov/Archives/edgar/data/1535955/000149315226027266/ex10-1.htm) |
| 107 | [Filing Fee Table.\*](ex107.htm) |

---

\* Filed herewith.

**SIGNATURES**

Pursuant to the requirements of the Securities Act of 1933, the registrant certifies that it has reasonable grounds to believe that it meets all of the requirements for filing on Form S-8 and has duly caused this registration statement to be signed on its behalf by the undersigned, thereunto duly authorized, in the City of Salt Lake City, State of Utah, on June 9, 2026.

---

| | |
|:---|:---|
| **LIPOCINE INC.** | **LIPOCINE INC.** |
| By | */s/ Mahesh V Patel* |
| Name: | Mahesh V. Patel |
| Title: | President and Chief Executive Officer |

---

**POWER OF ATTORNEY**

KNOW ALL MEN BY THESE PRESENTS, that each person whose signature appears below hereby constitutes and appoints Mahesh V. Patel and Morgan R. Brown, and each of them, his or her true and lawful attorneys-in-fact and agents, with full power of substitution and resubstitution, for him or her and in his or her name, place and stead, in any and all capacities, to sign any and all amendments to the registration statement, and to file the same, with all exhibits thereto, and other documents in connection therewith, with the Securities and Exchange Commission, granting each of said attorneys-in-fact and agents full power and authority to do and perform each and every act and thing requisite and necessary to be done in and about the premises, as full to all intents and purposes as he or she might or could do in person, hereby ratifying and confirming all that said attorneys-in-fact and agents or any of them, or their substitute, may lawfully do or cause to be done by virtue hereof.

Pursuant to the requirements of the Securities Act of 1933, this registration statement has been signed by the following persons in the capacities indicated and on the dates indicated.

---

| | | |
|:---|:---|:---|
| **Signature** | **Title** | **Date** |
| */s/ Mahesh V. Patel* | Chief Executive Officer (principal executive and principal financial officer) | June 9, 2026 |
| Mahesh V. Patel |  |  |
| */s/ Krista Fogarty* | Principal Accounting Officer and Corporate Controller | June 9, 2026 |
| Krista Fogarty | Officer *(principal financial and accounting officer)* |  |
| */s/ John W. Higuchi* | Director | June 9, 2026 |
| John W. Higuchi |  |  |
| */s/ Jill Jene* | Director | June 9, 2026 |
| Jill Jene |  |  |
| */s/ R. Dana Ono* | Director | June 9, 2026 |
| R. Dana Ono |  |  |

---

## Exhibit 5.1

**Exhibit 5.1**

**OPINION AND CONSENT OF DORSEY & WHITNEY LLP**

June 9, 2026

Lipocine Inc.

675 Arapeen Drive, Suite 202

Salt Lake City, UT 84108

Re: <u>Registration Statement on Form S-8</u>

Ladies and Gentlemen:

We have acted as counsel to Lipocine Inc., a Delaware corporation (the "Company"), in connection with a Registration Statement on Form S-8 (the "Registration Statement") filed by the Company with the Securities and Exchange Commission (the "Commission") under the Securities Act of 1933, as amended (the "Securities Act"), relating to the registration of 663,418 shares of common stock, par value $0.0001 per share, of the Company (the "Shares") that may be issued pursuant to the Sixth Amended and Restated Lipocine Inc. 2014 Stock and Incentive Plan (the "2014 Plan").

We have examined such documents and have reviewed such questions of law as we have considered necessary or appropriate for the purposes of our opinions set forth below. In rendering our opinions set forth below, we have assumed the authenticity of all documents submitted to us as originals, the genuineness of all signatures and the conformity to authentic originals of all documents submitted to us as copies. We have also assumed the legal capacity for all purposes relevant hereto of all natural persons. As to questions of fact material to our opinions, we have relied upon certificates or comparable documents of officers and other representatives of the Company and of public officials.

Based on the foregoing, we are of the opinion that the Shares, when issued and delivered in accordance with the terms of the 2014 Plan, will be validly issued, fully paid and non-assessable.

Our opinions expressed above are limited to the Delaware General Corporation Law.

We hereby consent to the filing of this opinion as an exhibit to the Registration Statement. In giving this consent, we do not admit that we are within the category of persons whose consent is required under Section 7 of the Securities Act or the rules and regulations of the Commission thereunder.

---

| |
|:---|
| Very truly yours, |
| /s/ Dorsey & Whitney LLP |

---

## Exhibit 23.1

**Exhibit 23.1**

**Consent of Independent Registered Public Accounting Firm**

The Board of Directors

Lipocine Inc.

We consent to the incorporation by reference in the Registration Statement on Form S-8 of our report dated March 9, 2026, on the audited consolidated financial statements of Lipocine Inc., which include the consolidated balance sheets as of December 31, 2025 and 2024, and the related consolidated statements of operations and comprehensive income (loss), changes in stockholders' equity, and cash flows for the years ended December 31, 2025 and 2024, and the related notes, which report appears in the December 31, 2025 annual report on Form 10-K of Lipocine Inc.

/s/ Tanner LLP

Salt Lake City, Utah

June 9, 2026

## Ex-Filing

?xml version='1.0' encoding='ASCII'? EX-FILING FEES

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|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Calculation of Filing Fee Tables**  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **S-8**  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Lipocine Inc.**  |

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| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Security Type**  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Security Class Title**  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Fee Calculation Rule**  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Amount Registered**  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Proposed Maximum Offering Price Per Unit**  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Maximum Aggregate Offering Price**  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Fee Rate**  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Amount of Registration Fee**  |
| 1 | Equity | Common Stock, $0.0001 par value per share, to be issued under the Lipocine Inc. Sixth Amended and Restated Stock and Incentive Plan | Other | 663418 | $2.25 | $1492690.50 | 0.0001381 | $206.14 |
| Total Offering Amounts: | Total Offering Amounts: | Total Offering Amounts: | Total Offering Amounts: | Total Offering Amounts: |  | $1492690.50  |  | $206.14  |
| Total Fee Offsets:  | Total Fee Offsets:  | Total Fee Offsets:  | Total Fee Offsets:  | Total Fee Offsets:  |  |  |  | $0.00  |
| Net Fee Due:  | Net Fee Due:  | Net Fee Due:  | Net Fee Due:  | Net Fee Due:  |  |  |  | $206.14  |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Offering Note** <br>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <sup>1</sup> Pursuant to Rule 416(a), this registration statement covers, in addition to the number of shares of Lipocine Inc., a Delaware corporation (the "Company" or the "Registrant"), common stock, par value $0.0001 per share (the "Common Stock"), stated above, options and other rights to purchase or acquire the shares of Common Stock covered by this registration statement and, pursuant to Rule 416 under the Securities Act of 1933, as amended (the "Securities Act"), any shares of Common Stock that become issuable under the Lipocine Inc. Sixth Amended and Restated 2014 Stock and Incentive Plan (the "Plan") by reason of any stock dividend, stock split, recapitalization or other similar transaction that results in an increase in the number of the Registrant's outstanding shares of Common Stock. Pursuant to Securities Act Rule 457(h), the maximum offering price, per share and in the aggregate, and the registration fee were calculated based upon the average of the high and low prices of the Common Stock on June 2, 2026, as quoted on The Nasdaq Capital Market.

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| |
|:---|
| |
| **Rule 457(p)** |
| Fee Offset Claims |
| Fee Offset Sources |

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