XML 24 R13.htm IDEA: XBRL DOCUMENT
v3.21.2

Contractual Agreements | 6 Months Ended
--- | ---
Jun. 30, 2021
Health Care Organizations [Abstract] |
Contractual Agreements | (7) Contractual Agreements (a) Abbott Products, Inc. On March 29, 2012, the Company terminated its collaborative agreement with Solvay Pharmaceuticals, Inc. (later acquired by Abbott Products, Inc.) for TLANDO. As part of the termination, the Company reacquired the rights to the intellectual property from Abbott. All obligations under the prior license agreement have been completed except that Lipocine will owe Abbott a perpetual 1% royalty on net sales. Such royalties are limited to $1.0 million in the first two calendar years following product launch, after which period there is not a cap on royalties and no maximum aggregate amount. If generic versions of any such product are introduced, then royalties are reduced by 50%. The Company did not incur any royalties expense during the three and six months ended June 30, 2021 and 2020. (b) Contract Research and Development The Company has entered into agreements with various contract organizations that conduct preclinical, clinical, analytical and manufacturing development work on behalf of the Company as well as a number of independent contractors and primarily clinical researchers who serve as advisors to the Company. The Company incurred expenses of $786,000 and $1.2 million, respectively, for the three months ended June 30, 2021 and 2020 and $1.7 million and $2.9 million, respectively, for the six months ended June 30, 2021 and 2020 under these agreements and has recorded these expenses in research and development expenses.

X
- Definition The entire disclosure for prepaid health care service provider's significant business and contractual arrangements with hospitals, physicians, or other associated entities. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 954 -SubTopic 405 -URI http://asc.fasb.org/subtopic&trid=2289226 + Details
Name: | us-gaap_BusinessAndContractualArrangementsDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_HealthCareOrganizationsAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration