Lipocine (LPCN) 10-K 6 Mar 19 2018 FY Annual report Financial data

Document And Entity Information

Document And Entity Information - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2018	Mar. 04, 2019	Jun. 30, 2018
Document Information [Line Items]
Document Type	10-K
Amendment Flag	false
Document Period End Date	Dec. 31, 2018
Document Fiscal Year Focus	2,018
Document Fiscal Period Focus	FY
Entity Registrant Name	Lipocine Inc.
Entity Central Index Key	1,535,955
Current Fiscal Year End Date	--12-31
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Filer Category	Non-accelerated Filer
Entity Public Float			$ 26
Trading Symbol	LPCN
Entity Common Stock, Shares Outstanding		23,878,948
Entity Shell Company	false
Entity Emerging Growth Company	false
Entity Small Business	true

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($)	Dec. 31, 2018	Dec. 31, 2017
Current assets:
Cash and cash equivalents	$ 8,077,539	$ 3,210,749
Restricted cash	5,000,000	0
Marketable investment securities	7,173,037	18,257,321
Accrued interest income	38,514	23,067
Litigation insurance recovery	0	3,319,927
Prepaid and other current assets	520,113	408,227
Total current assets	20,809,203	25,219,291
Property and equipment, net of accumulated depreciation of $1,124,700 and $1,121,080, respectively	18,997	75,070
Other assets	23,753	30,753
Total assets	20,851,953	25,325,114
Current liabilities:
Accounts payable	671,280	598,070
Litigation settlement payable	0	4,250,000
Accrued expenses	487,135	1,497,056
Debt - current portion	3,333,333	0
Total current liabilities	4,491,748	6,345,126
Debt - non-current portion	6,926,532	0
Total liabilities	11,418,280	6,345,126
Commitments and contingencies (notes 6, 9 and 12)
Stockholders' equity:
Preferred stock, par value $0.0001 per share, 10,000,000 shares authorized; zero issued and outstanding	0	0
Common stock, par value $0.0001 per share, 100,000,000 shares authorized; 21,737,196 and 21,270,249 issued and 21,731,486 and 21,264,539 outstanding	2,174	2,127
Additional paid-in capital	147,533,019	145,423,012
Treasury stock at cost, 5,710 shares	(40,712)	(40,712)
Accumulated other comprehensive loss	(963)	(4,616)
Accumulated deficit	(138,059,845)	(126,399,823)
Total stockholders' equity	9,433,673	18,979,988
Total liabilities and stockholders' equity	$ 20,851,953	$ 25,325,114

Consolidated Balance Sheets _Pa

Consolidated Balance Sheets [Parenthetical] - USD ($)	Dec. 31, 2018	Dec. 31, 2017
Accumulated Depreciation, Depletion and Amortization, Property, Plant, and Equipment (in dollars)	$ 1,124,700	$ 1,121,080
Preferred stock, par value (in dollars per share)	$ 0.0001	$ 0.0001
Preferred stock, shares authorized	10,000,000	10,000,000
Preferred stock, issued	0	0
Preferred stock, outstanding	0	0
Common stock, par value (in dollars per share)	$ 0.0001	$ 0.0001
Common stock, shares authorized	100,000,000	100,000,000
Common stock, shares issued	21,737,196	21,270,249
Common stock, shares outstanding	21,731,486	21,264,539
Treasury Stock, Shares	5,710	5,710

Consolidated Statements of Oper

Consolidated Statements of Operations and Comprehensive Loss - USD ($)	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Revenues:
License revenue	$ 428,031	$ 0	$ 0
Total revenues	428,031	0	0
Operating expenses:
Research and development	6,464,708	11,004,281	8,076,053
General and administrative	5,289,142	10,213,695	10,382,146
Restructuring costs	0	0	728,635
Total operating expenses	11,753,850	21,217,976	19,186,834
Operating loss	(11,325,819)	(21,217,976)	(19,186,834)
Other income (expense), net	(333,503)	235,816	216,078
Loss before income tax expense	(11,659,322)	(20,982,160)	(18,970,756)
Income tax expense	(700)	(700)	(752)
Net loss	$ (11,660,022)	$ (20,982,860)	$ (18,971,508)
Basic loss per share attributable to common stock	$ (0.55)	$ (1.05)	$ (1.04)
Weighted average common shares outstanding, basic	21,352,339	20,051,934	18,258,149
Diluted loss per share attributable to common stock	$ (0.55)	$ (1.05)	$ (1.04)
Weighted average common shares outstanding, diluted	21,352,339	20,051,934	18,258,149
Comprehensive loss:
Net loss	$ (11,660,022)	$ (20,982,860)	$ (18,971,508)
Unrealized net gain on available-for-sale securities	3,653	3,877	24,407
Comprehensive loss	$ (11,656,369)	$ (20,978,983)	$ (18,947,101)

Consolidated Statements of Chan

Consolidated Statements of Changes in Stockholders' Equity - USD ($)	Total	Common Stock [Member]	Treasury Stock [Member]	Additional Paid-in Capital [Member]	Accumulated Other Comprehensive Loss [Member]	Accumulated Deficit [Member]
Balances at Dec. 31, 2015	$ 41,985,417	$ 1,825	$ (40,712)	$ 128,502,659	$ (32,900)	$ (86,445,455)
Balances (in shares) at Dec. 31, 2015		18,244,746	5,710
Net loss	(18,971,508)	$ 0	$ 0	0	0	(18,971,508)
Unrealized net gain on marketable investment securities	24,407	0	0	0	24,407	0
Stock-based compensation	2,372,615	0	0	2,372,615	0	0
Option exercises	605,870	$ 21	0	605,849	0	0
Option exercises (in shares)		208,869
Vesting of restricted stock awards	0	$ 0	0	0	0	0
Vesting of restricted stock awards (in shares)		3,000
Balances at Dec. 31, 2016	26,016,801	$ 1,846	$ (40,712)	131,481,123	(8,493)	(105,416,963)
Balances (in shares) at Dec. 31, 2016		18,456,615	5,710
Net loss	(20,982,860)	$ 0	$ 0	0	0	(20,982,860)
Unrealized net gain on marketable investment securities	3,877	0	0	0	3,877	0
Stock-based compensation	2,716,142	0	0	2,716,142	0	0
Option exercises	581,145	$ 21	0	581,124	0	0
Option exercises (in shares)		206,813
Vesting of restricted stock units	0	$ 8	0	(8)	0	0
Vesting of restricted stock units (in shares)		83,002
Common stock sold through ATM offering	10,644,883	$ 252	0	10,644,631	0	0
Common stock sold through ATM offering (in shares)		2,518,109
Balances at Dec. 31, 2017	18,979,988	$ 2,127	$ (40,712)	145,423,012	(4,616)	(126,399,823)
Balances (in shares) at Dec. 31, 2017		21,264,539	5,710
Net loss	(11,660,022)	$ 0	$ 0	0	0	(11,660,022)
Unrealized net gain on marketable investment securities	3,653	0	0	0	3,653	0
Stock-based compensation	1,457,720	$ 0	0	1,457,720	0	0
Option exercises (in shares)		0
Common stock sold through ATM offering	652,334	$ 47	0	652,287	0	0
Common stock sold through ATM offering (in shares)		466,947
Balances at Dec. 31, 2018	$ 9,433,673	$ 2,174	$ (40,712)	$ 147,533,019	$ (963)	$ (138,059,845)
Balances (in shares) at Dec. 31, 2018		21,731,486	5,710

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($)	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Cash flows from operating activities:
Net loss	$ (11,660,022)	$ (20,982,860)	$ (18,971,508)
Adjustments to reconcile net loss to cash used in operating activities:
Depreciation expense	18,595	28,370	31,960
Stock-based compensation expense	1,457,720	2,716,142	2,372,615
Loss on disposition of property and equipment	37,478	0	0
Non-cash interest expense	259,865	0	0
Accretion (amortization) of premium/discount on marketable investment securities	(198,344)	(99,894)	224,482
Changes in operating assets and liabilities:
Accrued interest income	(15,447)	15,876	105,593
Litigation insurance recovery	3,319,927	(3,319,927)	0
Prepaid and other current assets	(111,886)	(78,679)	20,612
Accounts payable	73,210	352,155	(261,152)
Litigation settlement payable	(4,250,000)	4,250,000	0
Accrued expenses	(1,009,921)	416,802	(1,804,540)
Cash used in operating activities	(12,078,825)	(16,702,015)	(18,281,938)
Cash flows from investing activities:
Refund (payment) of rental deposit	7,000	0	(7,000)
Purchases or disposal of property and equipment	0	0	(59,650)
Purchases of marketable investment securities	(25,552,679)	(33,055,980)	(25,272,225)
Maturities of marketable investment securities	36,838,960	36,182,000	28,568,000
Cash provided by investing activities	11,293,281	3,126,020	3,229,125
Cash flows from financing activities:
Proceeds from debt	10,000,000	0	0
Proceeds from stock option exercises	0	581,145	605,870
Net proceeds from sale of common stock through ATM	652,334	10,644,883	0
Cash provided by financing activities	10,652,334	11,226,028	605,870
Net increase (decrease) in cash and cash equivalents	9,866,790	(2,349,967)	(14,446,943)
Cash, cash equivalents and restricted cash at beginning of period	3,210,749	5,560,716	20,007,659
Cash, cash equivalents and restricted cash at end of period	13,077,539	3,210,749	5,560,716
Supplemental disclosure of cash flow information:
Interest paid	533,542	0	0
Income taxes paid	700	700	752
Supplemental disclosure of non-cash investing and financing activities:
Unrealized net gain on marketable investment securities	3,653	3,877	24,407
Accrued final payment charge on debt	$ 259,865	$ 0	$ 0

Description of Business

Description of Business	12 Months Ended
	Dec. 31, 2018
Accounting Policies [Abstract]
Organization, Consolidation and Presentation of Financial Statements Disclosure [Text Block]	(1) Description of Business Lipocine Inc. (“Lipocine” or the “Company”) is engaged in research and development for the delivery of drugs using its proprietary delivery technology. The Company’s principal operation is to provide oral delivery solutions for existing drugs. Lipocine develops its own drug candidates or it develops drug candidates on behalf of or in collaboration with corporate partners. The Company has funded operating costs primarily through collaborative license, milestone and research arrangements, through federal grants and through the sale of equity securities. The Company is incorporated under the laws of the State of Delaware.

Summary of Significant Accounti

Summary of Significant Accounting Policies	12 Months Ended
	Dec. 31, 2018
Accounting Policies [Abstract]
Significant Accounting Policies [Text Block]	(2) Summary of Significant Accounting Policies (a) Use of Estimates The preparation of financial statements in conformity with U.S. generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Significant items subject to such estimates and assumptions include those related to stock-based compensation; income tax uncertainties; and the useful lives of property and equipment. (b) Cash and Cash Equivalents The Company considers all highly liquid investments with original maturities to the Company of three months or less to be cash equivalents. Although the Company may deposit its cash and cash equivalents with multiple financial institutions, its deposits, at times, may exceed federally insured limits. Cash equivalents were $7.3 million and $2.2 million at December 31, 2018 and 2017. (c) Receivables Accounts receivable are recorded at the invoiced amount and do not bear interest. The Company maintains an allowance for doubtful accounts for estimated losses. In establishing the allowance, management considers historical losses adjusted to take into account current market conditions and their customers’ financial condition, the amount of receivables in dispute, and the current receivables aging and current payment patterns. The Company had no write-offs in 2018, 2017 and 2016 and the Company did not record an allowance for doubtful accounts as of December 31, 2018 and 2017 as there were no accounts receivable outstanding. The Company does not have any off-balance-sheet credit exposure related to its customers. (d) Revenue Recognition In May 2014, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2014-09, Revenue from Contracts with Customers (Topic 606) with amendments in 2015 (ASU 2015-14) and 2016 (ASU 2016-8, ASU 2016-10, ASU 2016-12 and ASU 2016-20) . The updated standard is a new comprehensive revenue recognition model that requires revenue to be recognized in a manner that depicts the transfer of goods or services to a customer at an amount that reflects the consideration expected to be received in exchange for those goods or services. The guidance also requires disclosures regarding the nature, amount, timing and uncertainty of revenue and cash flows arising from contracts with customers. The Company adopted this pronouncement effective January 1, 2017 and it did not have any effect on the Company's financial position or results of operations for the years ending December 31, 2017 and 2016 as no revenue was recognized during these years. (e) Property and Equipment Property and equipment are recorded at cost, less accumulated depreciation. Maintenance and repairs that do not extend the life or improve the asset are expensed in the year incurred. Depreciation is computed using the straight-line method over the estimated useful lives of the assets, which are five years for laboratory and office equipment, three years for computer equipment and software, and seven years for furniture and fixtures. (f) Accounting for Impairment of Long-Lived Assets Long-lived assets are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. Recoverability of assets held and used is measured by a comparison of the carrying amount of an asset to future net cash flows (undiscounted) expected to be generated by the asset. If such assets are considered to be impaired, the impairment to be recognized is measured as the amount by which the carrying amount of the assets exceeds the fair value of the assets. Assets held for sale are reported at the lower of the carrying amount, or fair value, less costs to sell. (g) Income Taxes Income taxes are accounted for under the asset and liability method. Deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases and operating loss and tax credit carryforwards. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date. A valuation allowance is provided against net deferred tax assets if, based upon the available evidence, it is more likely than not that some or all of the net deferred tax assets will not be realized. The Company recognizes the effect of income tax positions only if those positions are more likely than not of being sustained. Recognized income tax positions are measured at the largest amount that is greater than 50 percent likely of being realized. Changes in recognition or measurement are reflected in the period in which the change in judgment occurs. The Company records interest and penalties related to unrecognized tax benefits as a component of its income tax expense. (h) Share-Based Payments The Company recognizes stock-based compensation expense for grants of stock option awards, restricted stock units and restricted stock under the Company’s Incentive Plan to employees and nonemployee members of the Company’s board of directors based on the grant-date fair value of those awards. The grant-date fair value of an award is generally recognized as compensation expense over the award’s requisite service period. In addition, the Company has granted performance-based stock option awards and restricted stock units, which vest based upon the Company satisfying certain performance conditions. Potential compensation cost, measured on the grant date, related to these performance options will be recognized only if, and when, the Company estimates that these options or units will vest, which is based on whether the Company considers the performance conditions to be probable of attainment. The Company’s estimates of the number of performance-based options or units that will vest will be revised, if necessary, in subsequent periods. In addition, the Company grants stock options to nonemployee consultants from time to time in exchange for services performed for the Company. Equity instruments granted to nonemployees are valued based on the grant-date fair value of the awards. During July 2017, the Company modified 11,250 existing performance-vesting restricted stock units of a terminated employee by accelerating the vesting of these restricted stock units under the terms of the employee’s respective employment and severance agreement. Compensation expense of $46,000 was recorded as a result of the modification and recorded as general and administrative expense. Additionally, during August 2016 and in conjunction with the 2016 Restructuring Plan (see note 5), the Company modified 61,487 existing time-vested options of a terminated employee by extending the exercise period to three years from the date of modification under the terms of the employee’s respective employment and severance agreement. Compensation expense of $51,000 was recorded as a result of the modification and recorded as a restructuring charge. The Company uses the Black-Scholes model to compute the estimated fair value of stock option awards. Using this model, fair value is calculated based on assumptions with respect to (i) expected volatility of the Company’s Common Stock price, (ii) the periods of time over which employees and members of the board of directors are expected to hold their options prior to exercise (expected term), (iii) expected dividend yield on the Common Stock, and (iv) risk-free interest rates. Stock-based compensation expense also includes an estimate, which is made at the time of grant, of the number of awards that are expected to be forfeited. This estimate is revised, if necessary, in subsequent periods if actual forfeitures differ from those estimates. Stock-based compensation cost that has been expensed in the statements of operations amounted to $ 1.5 2.7 2.4 Year Ended 2018 2017 2016 Research and development $ 587,437 $ 794,367 $ 629,400 General and administrative 870,283 1,921,775 1,691,949 Restructuring costs - - 51,266 $ 1,457,720 $ 2,716,142 $ 2,372,615 The Company issued 423,000 stock options, 543,000 stock options and 990,000 stock options, respectively, during the years ended December 31, 2018, 2017 and 2016. Additionally, the Company issued 540,000 and 287,000 restricted stock units, respectively, during the Key assumptions used in the determination of the fair value of stock options granted are as follows: Expected Term : The expected term represents the period that the stock-based awards are expected to be outstanding. Due to limited historical experience of similar awards, the expected term was estimated using the simplified method in accordance with the provisions of Staff Accounting Bulletin (“SAB”) No. 107, Share-Based Payment, for awards with stated or implied service periods. The simplified method defines the expected term as the average of the contractual term and the vesting period of the stock option. For awards with performance conditions, and that have the contractual term to satisfy the performance condition, the contractual term was used. Risk-Free Interest Rate : The risk-free interest rate used was based on the implied yield currently available on U.S. Treasury issues with an equivalent remaining term. Expected Dividend : The expected dividend assumption is based on management’s current expectation about the Company’s anticipated dividend policy. The Company does not anticipate declaring dividends in the foreseeable future. Expected Volatility : Since the Company did not have sufficient trading history, the volatility factor was based on the average of similar public companies through August 2014. When selecting similar companies, the Company considered the industry, stage of life cycle, size, and financial leverage. Beginning in August 2014, the volatility factor is based on a combination of the Company's trading history since March 2014 and the average of similar public companies. Beginning in July 2017, the volatility factor is based solely on the Company’s trading history since March 2014. For options granted in 2018, 2017 and 2016, the Company calculated the fair value of each option grant on the respective dates of grant using the following weighted average assumptions: 2018 2017 2016 Expected term 5.78 years 5.85 years 5.84 years Risk-free interest rate 2.80 % 2.13 % 1.76 % Expected dividend yield — — — Expected volatility 83.56 % 80.54 % 84.26 % FASB Accounting Standards Codification (“ASC”) 718, Stock Compensation, requires the Company to recognize compensation expense for the portion of options that are expected to vest. Therefore, the Company applied estimated forfeiture rates that were derived from historical employee termination behavior. If the actual number of forfeitures differs from those estimated by management, additional adjustments to compensation expense may be required in future periods. As of December 31, 2018, there was $1.1 million of total unrecognized compensation cost related to unvested share-based compensation arrangements granted under the Company’s stock option plan. That cost is expected to be recognized over a weighted average period of 2.01 years and will be adjusted for subsequent changes in estimated forfeitures. The weighted average fair value of share-based compensation awards granted during the years ended December 31, 2018, 2017 and 2016 was approximately $1.01 per share, $2.45 per share and $6.06 per share, respectively. Additionally, as of December 31, 2018, there was $1.3 million of total unrecognized compensation cost related to unvested restricted stock units that have either time-based vesting or performance vesting. (i) Fair Value The Company utilizes valuation techniques that maximize the use of observable inputs and minimize the use of unobservable inputs to the extent possible. The Company determines fair value based on assumptions that market participants would use in pricing an asset or liability in the principal or most advantageous market. When considering market participant assumptions in fair value measurements, the following fair value hierarchy distinguishes between observable and unobservable inputs, which are categorized in one of the following levels: • Level 1 Inputs: Quoted prices for identical instruments in active markets. • Level 2 Inputs: Quoted prices for similar instruments in active markets, quoted prices for identical or similar instruments in markets that are not active, and model-derived valuation in which all significant inputs and significant value drivers are observable in active markets. • Level 3 Inputs: Valuations derived from valuation techniques in which one or more significant inputs or significant value drivers are unobservable. All of the Company’s financial instruments are valued using quoted prices in active markets or based on other observable inputs. For accrued interest income, prepaid and other current assets, accounts payable, and accrued expenses, the carrying amounts approximate fair value because of the short maturity of these instruments. The following table presents the placement in the fair value hierarchy of assets and liabilities that are measured at fair value on a recurring basis at December 31, 2018 and 2017: Fair value measurements at reporting date using December 31, 2018 Level 1 inputs Level 2 inputs Level 3 inputs Assets: Cash equivalents - money market funds and corporate bonds $ 7,331,005 $ 4,835,433 $ 2,495,572 $ - Government treasury bills 897,381 897,381 - - Corporate bonds, notes and commercial paper 6,275,656 - 6,275,656 - $ 14,504,042 $ 5,732,814 $ 8,771,228 $ - Fair value measurements at reporting date using December 31, 2017 Level 1 inputs Level 2 inputs Level 3 inputs Assets: Cash equivalents - money market funds $ 2,171,814 $ 2,171,814 $ - $ - Government bonds and notes 4,741,690 4,741,690 - - Corporate bonds, notes and commercial paper 13,515,631 - 13,515,631 - $ 20,429,135 $ 6,913,504 $ 13,515,631 $ - The following methods and assumptions were used to determine the fair value of each class of assets and liabilities recorded at fair value in the balance sheets: Cash equivalents: Cash equivalents primarily consist of highly-rated money market funds, commercial paper and treasury bills with original maturities to the Company of three months or less and are purchased daily at par value with specified yield rates. Cash equivalents related to money market funds and treasury bills are classified within Level 1 of the fair value hierarchy because they are valued using quoted market prices or broker or dealer quotations for similar assets. Cash equivalents related to commercial paper are classified within Level 2 of the fair value hierarchy because they are valued using broker/dealer quotes, bids and offers, benchmark yields and credit spreads and other observable inputs. Government bonds and notes: The Company uses a third-party pricing service to value these investments. United States Treasury bonds and notes are classified within Level 1 of the fair value hierarchy because they are valued using quoted market prices in active markets for identical assets and reportable trades. Other United States government agency bonds are classified within Level 2 of the fair value hierarchy because they are valued using broker/dealer quotes, bids and offers, benchmark yields and credit spreads and other observable inputs. Corporate bonds, notes, and commercial paper: The Company uses a third-party pricing service to value these investments. The pricing service utilizes broker/dealer quotes, bids and offers, benchmark yields and credit spreads and other observable inputs. The Company’s accounting policy is to recognize transfers between levels of the fair value hierarchy on the date of the event or change in circumstances that caused the transfer. There were no transfers into or out of Level 1 or Level 2 for the years ended December 31, 2018 and 2017. (j) Earnings (Loss) per Share Basic earnings (loss) per share is calculated by dividing net income (loss) available to common shareholders by the weighted average number of common shares outstanding during the period. Diluted earnings (loss) per share is based on the weighted average number of common shares outstanding plus, where applicable, the additional potential common shares that would have been outstanding related to dilutive options, warrants, and unvested restricted stock units to the extent such shares are dilutive. The following table sets forth the computation of basic and diluted earnings (loss) per share of common stock for the years ended December 31, 2018, 2017 and 2016. Year Ended December 31, 2018 2017 2016 Basic loss per share attributable to common stock: Numerator Net loss $ (11,660,022 ) $ (20,982,860 ) $ (18,971,508 ) Denominator Weighted avg. common shares outstanding 21,352,339 20,051,934 18,258,149 Basic loss per share attributable to common stock $ (0.55 ) $ (1.05 ) $ (1.04 ) Diluted loss per share attributable to common stock: Numerator Net loss $ (11,660,022 ) $ (20,982,860 ) $ (18,971,508 ) Denominator Weighted avg. common shares outstanding 21,352,339 20,051,934 18,258,149 Diluted loss per share attributable to common stock $ (0.55 ) $ (1.05 ) $ (1.04 ) The computation of diluted earnings per share for the years ended December 31, 2018, 2017 and 2016 does not include stock options and unvested restricted stock units to purchase shares in the computation of diluted earnings per share because these instruments were antidilutive: December 31, 2018 2017 2016 Stock options 2,424,617 2,374,449 2,225,850 Unvested restricted stock awards — — — Unvested restricted stock units 682,124 203,998 — (k) Segment Information The Company is a single reportable segment engaged in research and development for the delivery of drugs using its proprietary delivery technology. Operating segments are identified as components of an enterprise for which separate discrete financial information is available for evaluation by the chief operating decision maker in making decisions regarding resource allocation and assessing performance. The chief operating decision maker made such decisions and assessed performance at the company level, as one segment. (l) Principles of Consolidation The consolidated financial statements include the accounts of the Company and all subsidiaries. The Company eliminates all intercompany accounts and transactions in consolidation.

Marketable Investment Securitie

Marketable Investment Securities	12 Months Ended
	Dec. 31, 2018
Investments, Debt and Equity Securities [Abstract]
Investments in Debt and Marketable Equity Securities (and Certain Trading Assets) Disclosure [Text Block]	(3) Marketable Investment Securities The Company has classified its marketable investment securities as available-for-sale securities, all of which are debt securities. Debt securities are carried at fair value with unrealized holding gains and losses, net of the related tax effect, included in accumulated other comprehensive loss in stockholders’ equity until realized. Gains and losses on investment security transactions are reported on the specific-identification method. Dividend income is recognized on the ex-dividend date and interest income is recognized on an accrual basis. December 31, 2018 Amortized Cost Gross unrealized holding gains Gross unrealized holding losses Aggregate fair value Government treasury bills $ 897,481 $ - $ (100 ) $ 897,381 Corporate bonds, notes and commercial paper 6,276,535 - (879 ) 6,275,656 $ 7,174,016 $ - $ (979 ) $ 7,173,037 December 31, 2017 Amortized Cost Gross unrealized holding gains Gross unrealized holding losses Aggregate fair value Government bonds and notes $ 4,744,566 $ - $ (2,876 ) $ 4,741,690 Corporate bonds, notes and commercial paper 13,517,371 - (1,740 ) 13,515,631 $ 18,261,937 $ - $ (4,616 ) $ 18,257,321 Maturities of debt securities classified as available-for-sale securities at December 31, 2018 are as follows: Amortized Cost Aggregate fair value Due within one year $ 7,174,016 $ 7,173,037 $ 7,174,016 $ 7,173,037 There were no sales of marketable investment securities during the years ended December 31, 2018, 2017 and 2016 and therefore no realized gains or losses. Additionally, $36.8 million, $36.2 million and $28.6 million of marketable investment securities matured during the years ended December 31, 2018, 2017 and 2016, respectively. The Company determined there were no other-than-temporary impairments for the years ended December 31, 2018, 2017 and 2016.

Contractual Agreements

Contractual Agreements	12 Months Ended
	Dec. 31, 2018
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Business and Contractual Arrangements for Prepaid Health Care Service Providers [Text Block]	(4) 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 during the years ended December 31, 2018, 2017 and 2016. (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, primarily clinical researchers, who serve as advisors to the Company. The Company incurred expenses of $4.1 million, $8.5 million and $5.5 million under these agreements in 2018, 2017 and 2016 and has recorded these expenses in research and development expenses.

Restructuring Charges

Restructuring Charges	12 Months Ended
	Dec. 31, 2018
Restructuring and Related Activities [Abstract]
Restructuring and Related Activities Disclosure [Text Block]	(5) Restructuring Charges Restructuring charges relate to our initiative to restructure operations which was approved by the board of directors on July 13, 2016. Under the July 2016 restructuring, the Company reduced its workforce by eight positions, constituting 33% of the Company’s workforce. The reduction in workforce involved all functional disciplines including general and administrative employees, sales and marketing and research and development personnel. Additionally, the Board approved a further restructuring in October 2016 whereby the Company reduced its workforce by an additional two positions in the sales and marketing functions. The restructurings that occurred in 2016 are jointly referred to as the 2016 Restructuring Plan. The charge related to the 2016 Restructuring Plan during the year ended December 31, 2016 was $729,000 and was comprised of $678,000 in severance related expenses and $51,000 for extending the exercise period of certain options under an existing employee severance agreement.

Loan and Security Agreement

Loan and Security Agreement	12 Months Ended
	Dec. 31, 2018
Debt Disclosure [Abstract]
Debt Disclosure [Text Block]	(6) Loan and Security Agreement On January 5, 2018, the Company entered into a Loan and Security Agreement (the “Loan and Security Agreement”) with Silicon Valley Bank (“SVB”) pursuant to which SVB agreed to lend the Company $10.0 million. The principal borrowed under the Loan and Security Agreement bears interest at a rate equal to the Prime Rate, as reported in the money rates section of The Wall Street Journal or any successor publication representing the rate of interest per annum then in effect, plus one percent per annum (6.5% as of December 31, 2018), which interest is payable monthly. The loan matures on December 1, 2021. The Company is only required to make monthly interest payments until December 31, 2018, following which the Company will be required to also make equal monthly payments of principal and interest for the remainder of the term. The Company will also be required to pay an additional final payment at maturity equal to $650,000 (the “Final Payment Charge”). The Final Payment Charge will be due on the scheduled maturity date and is being recognized as an increase to the principal balance with a corresponding charge to interest expense over the term of the facility using the effective interest method. At its option, the Company may prepay all amounts owed under the Loan and Security Agreement (including all accrued and unpaid interest and the Final Payment Charge), subject to a prepayment charge if the loan has been outstanding for less than two years, which prepayment charge is determined based on the date the loan is prepaid. In connection with the Loan and Security Agreement, the Company granted to SVB a security interest in substantially all of the Company’s assets now owned or hereafter acquired, excluding intellectual property and certain other assets. In addition, as TLANDO was not approved by the FDA prior to May 31, 2018, the Company maintains $5.0 million of cash collateral at SVB as required under the Loan and Security Agreement until such time as TLANDO is approved by the FDA. While any amounts are outstanding under the Loan and Security Agreement, the Company is subject to a number of affirmative and negative covenants, including covenants regarding dispositions of property, business combinations or acquisitions, incurrence of additional indebtedness and transactions with affiliates, among other customary covenants. The credit facility also includes events of default, the occurrence and continuation of which could cause interest to be charged at the rate that is otherwise applicable plus 5.0% and would provide SVB, as collateral agent, with the right to exercise remedies against the Company and the collateral securing the credit facility, including foreclosure against the property securing the credit facilities, including its cash. These events of default include, among other things, any failure by the Company to pay principal or interest due under the credit facility, a breach of certain covenants under the credit facility, the Company’s insolvency, a material adverse change, and one or more judgments against the Company in an amount greater than $100,000 individually or in the aggregate. Principal payments on debt at December 31, 2018, are as follows: Years Ending December 31, Amount (in thousands) 2019 $ 3,333 2020 3,333 2021 3,334 Thereafter — $ 10,000 The following table provides a reconciliation of cash, cash equivalents, and restricted cash reported within the consolidated balance sheet that sum to the total of the same such amounts shown in the statement of cash flows. December 31, 2018 Cash and cash equivalents $ 8,077,539 Restricted cash 5,000,000 Cash, cash equivalents, and retricted cash shown in the statement of cash flows $ 13,077,539 Amounts included in restricted cash represent those required to be set aside by the Loan and Security Agreement. The restriction will lapse if and when TLANDO is approved by the FDA.

Property and Equipment

Property and Equipment	12 Months Ended
	Dec. 31, 2018
Property, Plant and Equipment [Abstract]
Property, Plant, and Equipment and Intangible Assets [Text Block]	(7) Property and Equipment Property and equipment consisted of the following: December 31, 2018 December 31, 2017 Computer equipment and software $ 43,361 $ 43,361 Lab and office equipment 1,048,932 1,048,932 Furniture and fixtures 51,404 103,857 1,143,697 1,196,150 Less accumulated depreciation (1,124,700 ) (1,121,080 ) $ 18,997 $ 75,070 Depreciation expense for the years ended December 31, 2018, 2017 and 2016 was $19,000, $28,000 and $32,000.

Income Taxes

Income Taxes	12 Months Ended
	Dec. 31, 2018
Income Tax Disclosure [Abstract]
Income Tax Disclosure [Text Block]	(8) Income Taxes (a) Income Tax Expense Income tax expense consists of: December 31, 2018 2017 2016 U.S. federal $ - $ - $ - State and local 700 700 752 Deferred - - - Total $ 700 $ 700 $ 752 (b) Tax Rate Reconciliation Income tax expense was $700, $700 and $752, respectively, for the years ended December 31, 2018, 2017 and 2016 and differed from the amounts computed by applying the U.S. federal income tax rate of 21%, 34%, and 34% for 2018, 2017, and 2016, respectively, to pretax income from continuing operations as a result of the following: December 31, 2018 2017 2016 Computed "expected" tax expense (benefit) $ (2,448,457 ) $ (7,133,934 ) $ (6,450,075 ) Increase (reduction) in income taxes resulting from: Change in valuation allowance 2,671,563 (6,173,708 ) 6,709,591 Difference associated with federal rate change - 13,240,342 - State and local income taxes, net of federal income tax benefit 553 462 496 Stock expense 136,903 684,854 200,002 Research and development tax credits (266,163 ) (394,470 ) (337,968 ) Orphan drug tax credit (95,822 ) (227,109 ) (127,641 ) Other, net 2,123 4,263 6,347 $ 700 $ 700 $ 752 (c) Significant Components of Deferred Taxes The tax effects of temporary differences that give rise to significant portions of the deferred tax assets and deferred tax liabilities at December 31, 2018 and 2017 are presented below. December 31, 2018 2017 Deferred tax assets: Stock-based compensation $ 1,540,215 $ 1,330,706 Net operating loss carryforwards 27,397,503 25,395,518 Employee benefits 48,294 54,729 Research and development tax credits 3,362,473 3,012,081 Orphan drug tax credits 1,144,583 1,023,290 Plant and equipment 234 - Other deductible tempory differences 378 104 Total gross deferred tax assets 33,493,680 30,816,428 Less valuation allowance (33,493,680 ) (30,813,270 ) Net deferred tax assets - 3,158 Deferred tax liabilities: Plant and equipment - (3,158 ) Total gross deferred tax liabilities - (3,158 ) Net deferred tax liabilities $ - $ - On December 22, 2017, the Tax Cuts and Jobs Act of 2017 (“Tax Act”) was signed into law. The new law includes, among other items, a permanent reduction to the U.S. corporate income tax rate from 34% to 21% effective January 1, 2018. As a result, at December 31, 2017, we recognized a tax expense of $13.2 million from revaluing U.S net deferred tax assets which was offset by a corresponding change in the Company’s valuation allowance. The valuation allowance for deferred tax assets as of December 31, 2018 and 2017 was $33.5 million and $30.8 million. The net change in the valuation allowance was an increase of $2.7 million in 2018 and a decrease of $5.1 million in 2017. A valuation allowance has been provided for the full amount of the Company’s net deferred tax assets as the Company believes it is more likely than not that these benefits will not be realized. In assessing the realizability of deferred tax assets, management considers whether it is more likely than not that some portion or all of the deferred tax assets will not be realized. The ultimate realization of deferred tax assets is dependent upon the generation of future taxable income during the periods in which those temporary differences become deductible. Management considers the scheduled reversal of deferred tax liabilities (including the impact of available carryback and carryforward periods), projected future taxable income, and tax planning strategies in making this assessment. During the year ended December 31, 2013, the Company experienced a change in ownership, as defined by the Internal Revenue Code, as amended (the “Code”) under Section 382. A change of ownership occurs when ownership of a company increases by more than 50 percentage points over a three-year testing period of certain stockholders. As a result of this ownership change, we determined that our annual limitation on the utilization of our federal net operating loss (“NOL”) and credit carryforwards is approximately $1.1 million per year. We will only be able to utilize $20.2 million of our pre-ownership change NOL carryforwards and will forgo utilizing $5.5 million of our pre-ownership change NOL carryforwards and $1.2 million of our pre-change credit carryforwards as a result of this ownership change. We do not account for forgone NOL and credit carryovers in our deferred tax assets and only account for the NOL and credit carryforwards that will not expire unutilized as a result of the restrictions of Code Section 382. As of December 31, 2018, we had NOL and research and development credit carryforwards for U.S. federal income tax reporting purposes of approximately $106.6 million and $2.3 million, respectively. Approximately $25.7 million of the NOL will expire between 2023 and 2033 and $70.8 million of the NOL will expire 2034 through 2037. Pursuant to the Tax Cuts and Jobs Act of 2017, NOL’s generated in 2018 and subsequent years have an unlimited carryforward therefore the 2018 NOL of $10.1 million can be carried forward indefinitely. The research and development credits will begin to expire in 2033 through 2038. We have orphan drug credit carry forwards of approximately $1.1 million which will expire if unused through 2038. We also have state NOL and research and development credit carry-forwards of approximately $100.2 million and $1.1 million, respectively. Approximately $194,000 of the Company's state NOL expires in 2019, $37.5 million expires between 2020 and 2029, and $62.4 million will expire in 2030 through 2033. The state research and development credits expire in 2023 through 2032. The Company's federal and state income tax returns for December 31, 2015 through 2018 are open tax years. A reconciliation of the beginning and ending amount of total unrecognized tax contingencies, excluding interest and penalties, for the years ended December 31, 2018 and 2017 are as follows: December 31, 2018 2017 Balance, beginning of year $ - $ - Balance, end of year $ - $ -

Leases

Leases	12 Months Ended
	Dec. 31, 2018
Leases [Abstract]
Leases of Lessee Disclosure [Text Block]	(9) Leases On August 6, 2004, the Company assumed a non-cancelable operating lease for office space and laboratory facilities in Salt Lake City, Utah. On May 6, 2014, the Company modified and extended the lease through February 28, 2018, on February 8, 2018, the Company extended the lease through February 28, 2019 and on January 2, 2019, the Company extended the lease through February 28, 2020. Additionally, on December 28, 2015, the Company entered into an operating lease for office space in Lawrenceville, New Jersey through January 31, 2018. The Company vacated the Lawrenceville, New Jersey office on January 31, 2018. Future minimum lease payments under non-cancelable operating leases as of December 31, 2018 are: Operating leases Year ending December 31: 2019 53,460 Total minimum lease payments $ 53,460 The Company’s rent expense was $323,000, $379,000 and $374,000 for the years ended December 31, 2018, 2017 and 2016.

Stockholders' Equity

Stockholders' Equity	12 Months Ended
	Dec. 31, 2018
Stockholders' Equity Note [Abstract]
Stockholders' Equity Note Disclosure [Text Block]	(10) Stockholders’ Equity (a) Issuance of Common Stock In March 2017, the Company entered into a Controlled Equity Offering Sales Agreement (the “Sales Agreement”) with Cantor Fitzgerald & Co. (“Cantor”), to sell shares of our common stock, with aggregate gross sales proceeds of up to $20.0 million, from time to time, through an “at the market” (“ATM”), equity offering program, under which Cantor acts as sales agent. The shares of common stock to be sold under the Sales Agreement were originally sold and issued pursuant to the Company’s Registration Statement on Form S-3 (File No. 333-199093) (the “Prior Form S-3”), which was previously declared effective by the Securities and Exchange Commission, and the related prospectus and one or more prospectus supplements. On October 13, 2017, the Company filed a Form S-3 (File No. 333-220942) (the “New Form S-3”) to replace the Existing Form S-3. The New Form S-3 has been declared effective by the Securities and Exchange Commission, and the Prior Form S-3 has been terminated. The New Form S-3 registered the sale of up to $150.0 million of any combination of common stock, preferred stock, debt securities, warrants and units pursuant to a shelf registration statement. The New Form S-3 also contains a prospectus pursuant to which we may sell, from time to time, shares of our common stock having an aggregate offering price of up to $25.0 million through Cantor as our sales agent, pursuant to the Sales Agreement. On September 20, 2018, the Company filed a prospectus supplement in which the Company disclosed that as a result of the limitations of General Instruction I.B.6. of Form S-3, and in accordance with the terms of the Sales Agreement, the amount of shares of our common stock available for sale under the New Form S-3 is now limited to $10.8 million over any rolling 12-month period. As of December 31, 2018, we had sold an aggregate of 2,985,056 shares at a weighted-average sales price of $3.94 per share under the ATM for aggregate gross proceeds of $11.8 million and net proceeds of $11.3 million, after deducting sales agent commission and discounts and our other offering costs. During the year ended December 31, 2018, the Company sold an aggregate of 466,947 shares at a weighted-average sales price of $1.45 per share under the ATM for aggregate gross proceeds of $678,000 and $652,000 in net proceeds. During the year ended December 31, 2017, the Company sold an aggregate of 2,518,109 shares at a weighted-average sales price of $4.40 per share under the ATM for aggregate gross proceeds of $11.1 million and $10.6 (b) Rights Agreement On November 13, 2015, the Company and American Stock Transfer & Trust Company, LLC, as Rights Agent, entered into a Rights Agreement. Also on November 12, 2015, the board of directors of the Company authorized and the Company declared a dividend of one preferred stock purchase right (each a “Right” and collectively, the “Rights”) for each outstanding share of common stock of the Company. The dividend was payable to stockholders of record as of the close of business on November 30, 2015 and entitles the registered holder to purchase from the Company one one-thousandth of a fully paid non-assessable share of Series A Junior Participating Preferred Stock of the Company at a price of $63.96 per one-thousandth share (the “Purchase Price”). The Rights will generally become exercisable upon the earlier to occur of (i) 10 business days following a public announcement that a person or group of affiliated or associated persons has become an Acquiring Person (as defined below) or (ii) 10 business days (or such later date as may be determined by action of the board of directors prior to such time as any person or group of affiliated or associated persons becomes an Acquiring Person) following the commencement of, or announcement of an intention to make, a tender offer or exchange offer the consummation of which would result in the beneficial ownership by a person or group of 15% or more of the outstanding common stock of the Company. Except in certain situations, a person or group of affiliated or associated persons becomes an “Acquiring Person” upon acquiring beneficial ownership of 15% or more of the outstanding shares of common stock of the Company. In general, in the event a person becomes an Acquiring Person, then each Right not owned by such Acquiring Person will entitle its holder to purchase from the Company, at the Right’s then current exercise price, in lieu of shares of Series A Junior Participating Preferred Stock, common stock of the Company with a market value of twice the Purchase Price. In addition, if after any person has become an Acquiring Person, (a) the Company is acquired in a merger or other business combination, or (b) 50% or more of the Company’s assets, or assets accounting for 50% or more of its earning power, are sold, leased, exchanged or otherwise transferred (in one or more transactions), proper provision shall be made so that each holder of a Right (other than the Acquiring Person, its affiliates and associates and certain transferees thereof, whose Rights became void) shall thereafter have the right to purchase from the acquiring corporation, for the Purchase Price, that number of shares of common stock of the acquiring corporation which at the time of such transaction would have a market value of twice the Purchase Price. The Company will be entitled to redeem the Rights at $0.001 per Right at any time prior to the time an Acquiring Person becomes such. The terms of the Rights are set forth in the Rights Agreement, which is summarized in the Company's Current Report on Form 8-K dated November 13, 2015. The rights plan was originally set to expire on November 12, 2018; however, on November 5, 2018 our Board of Directors approved an Amended and Restated Rights Agreement pursuant to which the expiration date was extended to November 5, 2021, unless the rights are earlier redeemed or exchanged by the Company. (c) Stock Option Plan In April 2014, the board of directors adopted the 2014 Stock and Incentive Plan ("2014 Plan") subject to shareholder approval which was received in June 2014. The 2014 Plan provides for the granting of nonqualified and incentive stock options, stock appreciation rights, restricted stock units, restricted stock and dividend equivalents. An aggregate of 1,000,000 shares are authorized for issuance under the 2014 Plan. Additionally, 271,906 remaining authorized shares under the 2011 Equity Incentive Plan ("2011 Plan") were issuable under the 2014 Plan at the time of the 2014 Plan adoption. Upon receiving shareholder approval in June 2016, the 2014 Plan was amended and restated to increase the authorized number of shares of common stock of the Company issuable under all awards granted under the 2014 Plan from 1,271,906 to 2,471,906. Additionally, upon receiving shareholder approval in June 2018, the 2014 Plan was further amended and restated to increase the authorized number of shares of common stock of the Company issuable under all awards granted under the 2014 Plan from 2,471,906 to 3,221,906. The board of directors, on an option-by-option basis, determines the number of shares, exercise price, term, and vesting period. Options granted generally have a ten-year contractual life. The Company issues shares of common stock upon the exercise of options with the source of those shares of common stock being either newly issued shares or shares held in treasury. An aggregate of 3,221,906 shares are authorized for issuance under the 2014 Plan, with 794,814 shares remaining available for grant as of December 31, 2018. A summary of stock option activity is as follows: Outstanding stock options Number of shares Weighted average exercise price Balance at December 31, 2017 2,374,449 $ 5.64 Options granted 423,000 1.42 Options exercised - - Options forfeited (259,913 ) 4.05 Options cancelled (112,919 ) 7.15 Balance at December 31, 2018 2,424,617 5.00 Options exercisable at December 31, 2018 1,693,892 6.12 The following table summarizes information about stock options outstanding and exercisable at December 31, 2018: Options outstanding Options exercisable Number outstanding Weighted average remaining contractual life (Years) Weighted average exercise price Aggregate intrinsic value Number exerciseable Weighted average remaining contractual life (Years) Weighted average exercise price Aggregate intrinsic value 2,424,617 6.54 $ 5.00 $ 15,350 1,693,892 5.33 $ 6.12 $ - The intrinsic value for stock options is defined as the difference between the current market value and the exercise price. The total intrinsic value of stock options exercised during the years ended December 31, 2017 and 2016 was $223,000 and $216,000. There were zero, 206,813 and 208,869 stock options exercised during the years ended December 31, 2018, 2017 and 2016. (d) Restricted Stock Units A summary of restricted stock unit activity is as follows: Number of unvested restricted stock units Balance at December 31, 2017 203,998 Granted 540,000 Vested - Cancelled (61,874 ) Balance at December 31, 2018 682,124

401(k) Plan

401(k) Plan	12 Months Ended
	Dec. 31, 2018
Retirement Benefits [Abstract]
Compensation and Employee Benefit Plans [Text Block]	(11) 401(k) Plan On January 1, 2002, the Company adopted a tax qualified employee savings and retirement plan (the “401(k) Plan”) covering eligible employees. Pursuant to the 401(k) Plan, employees may elect to reduce current compensation by a percentage of eligible compensation, not to exceed legal limits, and contribute the amount of such reduction to the 401(k) Plan. Beginning April 1, 2014, the 401(k) Plan was amended to require matching contributions to the 401(k) Plan by the Company on behalf of the participants of 100 percent Company match on up to four percent of an employee's compensation computed on a per pay period basis. The Company contributed $84,000, $82,000 and $128,000, respectively, to the 401(k) Plan during the years ended December 31, 2018, 2017 and 2016.

Commitments and Contingencies

Commitments and Contingencies	12 Months Ended
	Dec. 31, 2018
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies Disclosure [Text Block]	(12) Commitments and Contingencies Litigation The Company is involved in various lawsuits, claims and other legal matters from time to time that arise in the ordinary course of conducting business. The Company records a liability when a particular contingency is probable and estimable. On July 2, 2018 the court signed a final order approving the parties’ agreement to settle the purported securities class action litigation captioned In re Lipocine Inc. Securities Litigation, 2:17CV00182 DB (D. Utah) which was originally filed against the Company on July 1, 2016. The final order issued by the court specifically finds that the settlement set forth in the parties’ stipulation is fair, reasonable, adequate, and in the best interests of the Class, and resolves all of the claims that were or could have been brought in the action being settled. The Company maintains insurance for claims of this nature. When the Company signed the memorandum of understanding to settle the purported securities class action litigation, the potential liability became probable and estimable. The Company recorded a litigation settlement liability for $4.3 million as of December 31, 2017. Additionally, the Company recorded a litigation insurance settlement recovery receivable of $3.3 million as of December 31, 2017 which represented the estimated insurance claims proceeds from our insurance carrier in excess of the Company’s retention. As of December 31, 2018, the Company and the insurance carrier have remitted the full balance of the litigation settlement and, as such, the litigation settlement liability and litigation insurance receivable have zero balances. On February 15, 2019, a purported shareholder filed a shareholder derivative complaint in the Court of Chancery of the State of Delaware, John Wajda, derivatively on behalf of Lipocine Inc. v. Mahesh Patel, et al., Beyond In re Lipocine Inc. Securities Litigation, 2:17CV00182 DB (D. Utah) , management does not currently believe that any other matter, individually or in the aggregate, will have a material adverse effect on our financial condition, liquidity or results of operations. Guarantees and Indemnifications In the ordinary course of business, the Company enters into agreements, such as lease agreements, licensing agreements, clinical trial agreements, and certain services agreements, containing standard guarantee and / or indemnifications provisions. Additionally, the Company has indemnified its directors and officers to the maximum extent permitted under the laws of the State of Delaware.

Agreement with Spriaso, LLC

Agreement with Spriaso, LLC	12 Months Ended
	Dec. 31, 2018
Agreement With Spriaso LLC [Abstract]
Agreement With Spriaso LLC [Text Block]	(13) Agreement with Spriaso, LLC On July 23, 2013, the Company entered into an assignment/license and a services agreement with Spriaso, a related-party that is majority-owned by certain current and former directors of Lipocine Inc. and their affiliates. Under the license agreement, the Company assigned and transferred to Spriaso all of the Company’s rights, title and interest in its intellectual property to develop products for the cough and cold field. In addition, Spriaso received all rights and obligations under the Company’s product development agreement with a third-party. In exchange, the Company will receive a royalty of 20 percent of the net proceeds received by Spriaso, up to a maximum of $10.0 million. Spriaso also granted back to the Company an exclusive license to such intellectual property to develop products outside of the cough and cold field. Under the service agreement, the Company provided facilities and up to 10 percent of the services of certain employees to Spriaso for a period of 18 months which expired January 23, 2015. Effective January 23, 2015, the Company entered into an amended services agreement with Spriaso in which the Company agreed to continue providing up to 10 percent of the services of certain employees to Spriaso at a rate of $230/hour for a period of six months. The agreement was further amended on July 23, 2015, on January 23, 2016, on July 23, 2016, on January 23, 2017, on July 23, 2017 on January 23, 2018, July 23, 2018 and again on January 23, 2019 to extend the term of the agreement for an additional six months. The agreement may be extended upon written agreement of Spriaso and the Company. The Company received reimbursements of $5,000, $31,000 and $3,000 for the years ended December 31, 2018, 2017 and 2016, respectively. Additionally, during the years ended December 31, 2018, 2017 and 2016, the Company received $428,000, zero and zero, respectively, in royalty payments from Spriaso. Spriaso filed its first NDA and as an affiliated entity of the Company, it used up the one-time waiver for user fees for a small business submitting its first human drug application to the FDA. Spriaso is considered a variable interest entity under the FASB ASC Topic 810-10, Consolidations , however the Company is not the primary beneficiary and has therefore not consolidated Spriaso.

Accounting Pronouncements Issue

Accounting Pronouncements Issued Not Yet Adopted	12 Months Ended
	Dec. 31, 2018
New Accounting Pronouncements and Changes in Accounting Principles [Abstract]
New Accounting Pronouncements and Changes in Accounting Principles [Text Block]	(14) Accounting Pronouncements Issued Not Yet Adopted In June 2016, the FASB issued ASU 2016-13, Financial Instruments - Credit Losses . The new standard amends guidance on reporting credit losses for assets held at amortized cost basis and available-for-sale debt securities. ASU 2016-13 is effective for interim and annual reporting periods beginning after December 15, 2019; early adoption is permitted for interim and annual reporting periods beginning after December 15, 2018. Entities will apply the standard’s provisions as a cumulative-effect adjustment to retained earnings as of the beginning of the first reporting period in which the guidance is effective (i.e., modified retrospective approach). The Company plans to adopt this pronouncement effective January 1, 2019 and does not believe it will have a material effect on the Company's financial position or results of operations. In February 2016, FASB issued ASU 2016-02 , Leases, which provides new guidance for lease accounting including recognizing most leases on-balance sheet. The standard becomes effective for annual and interim periods in fiscal years beginning after December 15, 2018. ASU 2016-02 mandates a modified retrospective transition method for all entities. The Company does not have any lease that extends beyond December 31, 2018 other than its facility lease that was extended in January 2019 for a period of one-year until February 28, 2020. The Company plans to adopt this pronouncement effective January 1, 2019 and does not believe it will have a material effect on the Company's financial position or results of operations.

Selected Quarterly Financial In

Selected Quarterly Financial Information	12 Months Ended
	Dec. 31, 2018
Quarterly Financial Information Disclosure [Abstract]
Quarterly Financial Information [Text Block]	(15) Selected Quarterly Financial Information (Unaudited) The following table provides a summary of selected financial results of operations by quarter for the years ended December 31, 2018 and 2017: 2018 First Second Third Fourth Total revenues $ 428,031 $ - $ - $ - Operating loss (2,636,986 ) (3,164,410 ) (2,353,056 ) (3,171,367 ) Net loss (2,719,971 ) (3,255,501 ) (2,459,072 ) (3,225,478 ) Basic loss per share attributable to common stock (0.13 ) (0.15 ) (0.12 ) (0.15 ) Diluted loss per share attributable to common stock (0.13 ) (0.15 ) (0.12 ) (0.15 ) 2017 First Second Third Fourth Operating loss $ (4,908,915 ) $ (6,140,618 ) $ (4,766,059 ) $ (5,402,384 ) Net loss (4,861,260 ) (6,089,766 ) (4,700,248 ) (5,331,586 ) Basic loss per share attributable to common stock (0.26 ) (0.31 ) (0.22 ) (0.25 ) Diluted loss per share attributable to common stock (0.26 ) (0.31 ) (0.22 ) (0.25 )

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2018
Accounting Policies [Abstract]
Use of Estimates, Policy [Policy Text Block]	(a) Use of Estimates The preparation of financial statements in conformity with U.S. generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Significant items subject to such estimates and assumptions include those related to stock-based compensation; income tax uncertainties; and the useful lives of property and equipment.
Cash and Cash Equivalents, Policy [Policy Text Block]	(b) Cash and Cash Equivalents The Company considers all highly liquid investments with original maturities to the Company of three months or less to be cash equivalents. Although the Company may deposit its cash and cash equivalents with multiple financial institutions, its deposits, at times, may exceed federally insured limits. Cash equivalents were $7.3 million and $2.2 million at December 31, 2018 and 2017.
Receivables, Policy [Policy Text Block]	(c) Receivables Accounts receivable are recorded at the invoiced amount and do not bear interest. The Company maintains an allowance for doubtful accounts for estimated losses. In establishing the allowance, management considers historical losses adjusted to take into account current market conditions and their customers’ financial condition, the amount of receivables in dispute, and the current receivables aging and current payment patterns. The Company had no write-offs in 2018, 2017 and 2016 and the Company did not record an allowance for doubtful accounts as of December 31, 2018 and 2017 as there were no accounts receivable outstanding. The Company does not have any off-balance-sheet credit exposure related to its customers.
Revenue Recognition, Policy [Policy Text Block]	(d) Revenue Recognition In May 2014, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2014-09, Revenue from Contracts with Customers (Topic 606) with amendments in 2015 (ASU 2015-14) and 2016 (ASU 2016-8, ASU 2016-10, ASU 2016-12 and ASU 2016-20) . The updated standard is a new comprehensive revenue recognition model that requires revenue to be recognized in a manner that depicts the transfer of goods or services to a customer at an amount that reflects the consideration expected to be received in exchange for those goods or services. The guidance also requires disclosures regarding the nature, amount, timing and uncertainty of revenue and cash flows arising from contracts with customers. The Company adopted this pronouncement effective January 1, 2017 and it did not have any effect on the Company's financial position or results of operations for the years ending December 31, 2017 and 2016 as no revenue was recognized during these years.
Property, Plant and Equipment, Policy [Policy Text Block]	(e) Property and Equipment Property and equipment are recorded at cost, less accumulated depreciation. Maintenance and repairs that do not extend the life or improve the asset are expensed in the year incurred. Depreciation is computed using the straight-line method over the estimated useful lives of the assets, which are five years for laboratory and office equipment, three years for computer equipment and software, and seven years for furniture and fixtures.
Impairment or Disposal of Long-Lived Assets, Policy [Policy Text Block]	(f) Accounting for Impairment of Long-Lived Assets Long-lived assets are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. Recoverability of assets held and used is measured by a comparison of the carrying amount of an asset to future net cash flows (undiscounted) expected to be generated by the asset. If such assets are considered to be impaired, the impairment to be recognized is measured as the amount by which the carrying amount of the assets exceeds the fair value of the assets. Assets held for sale are reported at the lower of the carrying amount, or fair value, less costs to sell.
Income Tax, Policy [Policy Text Block]	(g) Income Taxes Income taxes are accounted for under the asset and liability method. Deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases and operating loss and tax credit carryforwards. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date. A valuation allowance is provided against net deferred tax assets if, based upon the available evidence, it is more likely than not that some or all of the net deferred tax assets will not be realized. The Company recognizes the effect of income tax positions only if those positions are more likely than not of being sustained. Recognized income tax positions are measured at the largest amount that is greater than 50 percent likely of being realized. Changes in recognition or measurement are reflected in the period in which the change in judgment occurs. The Company records interest and penalties related to unrecognized tax benefits as a component of its income tax expense.
Compensation Related Costs, Policy [Policy Text Block]	(h) Share-Based Payments The Company recognizes stock-based compensation expense for grants of stock option awards, restricted stock units and restricted stock under the Company’s Incentive Plan to employees and nonemployee members of the Company’s board of directors based on the grant-date fair value of those awards. The grant-date fair value of an award is generally recognized as compensation expense over the award’s requisite service period. In addition, the Company has granted performance-based stock option awards and restricted stock units, which vest based upon the Company satisfying certain performance conditions. Potential compensation cost, measured on the grant date, related to these performance options will be recognized only if, and when, the Company estimates that these options or units will vest, which is based on whether the Company considers the performance conditions to be probable of attainment. The Company’s estimates of the number of performance-based options or units that will vest will be revised, if necessary, in subsequent periods. In addition, the Company grants stock options to nonemployee consultants from time to time in exchange for services performed for the Company. Equity instruments granted to nonemployees are valued based on the grant-date fair value of the awards. During July 2017, the Company modified 11,250 existing performance-vesting restricted stock units of a terminated employee by accelerating the vesting of these restricted stock units under the terms of the employee’s respective employment and severance agreement. Compensation expense of $46,000 was recorded as a result of the modification and recorded as general and administrative expense. Additionally, during August 2016 and in conjunction with the 2016 Restructuring Plan (see note 5), the Company modified 61,487 existing time-vested options of a terminated employee by extending the exercise period to three years from the date of modification under the terms of the employee’s respective employment and severance agreement. Compensation expense of $51,000 was recorded as a result of the modification and recorded as a restructuring charge. The Company uses the Black-Scholes model to compute the estimated fair value of stock option awards. Using this model, fair value is calculated based on assumptions with respect to (i) expected volatility of the Company’s Common Stock price, (ii) the periods of time over which employees and members of the board of directors are expected to hold their options prior to exercise (expected term), (iii) expected dividend yield on the Common Stock, and (iv) risk-free interest rates. Stock-based compensation expense also includes an estimate, which is made at the time of grant, of the number of awards that are expected to be forfeited. This estimate is revised, if necessary, in subsequent periods if actual forfeitures differ from those estimates. Stock-based compensation cost that has been expensed in the statements of operations amounted to $ 1.5 2.7 2.4 Year Ended 2018 2017 2016 Research and development $ 587,437 $ 794,367 $ 629,400 General and administrative 870,283 1,921,775 1,691,949 Restructuring costs - - 51,266 $ 1,457,720 $ 2,716,142 $ 2,372,615 The Company issued 423,000 stock options, 543,000 stock options and 990,000 stock options, respectively, during the years ended December 31, 2018, 2017 and 2016. Additionally, the Company issued 540,000 and 287,000 restricted stock units, respectively, during the Key assumptions used in the determination of the fair value of stock options granted are as follows: Expected Term : The expected term represents the period that the stock-based awards are expected to be outstanding. Due to limited historical experience of similar awards, the expected term was estimated using the simplified method in accordance with the provisions of Staff Accounting Bulletin (“SAB”) No. 107, Share-Based Payment, for awards with stated or implied service periods. The simplified method defines the expected term as the average of the contractual term and the vesting period of the stock option. For awards with performance conditions, and that have the contractual term to satisfy the performance condition, the contractual term was used. Risk-Free Interest Rate : The risk-free interest rate used was based on the implied yield currently available on U.S. Treasury issues with an equivalent remaining term. Expected Dividend : The expected dividend assumption is based on management’s current expectation about the Company’s anticipated dividend policy. The Company does not anticipate declaring dividends in the foreseeable future. Expected Volatility : Since the Company did not have sufficient trading history, the volatility factor was based on the average of similar public companies through August 2014. When selecting similar companies, the Company considered the industry, stage of life cycle, size, and financial leverage. Beginning in August 2014, the volatility factor is based on a combination of the Company's trading history since March 2014 and the average of similar public companies. Beginning in July 2017, the volatility factor is based solely on the Company’s trading history since March 2014. For options granted in 2018, 2017 and 2016, the Company calculated the fair value of each option grant on the respective dates of grant using the following weighted average assumptions: 2018 2017 2016 Expected term 5.78 years 5.85 years 5.84 years Risk-free interest rate 2.80 % 2.13 % 1.76 % Expected dividend yield — — — Expected volatility 83.56 % 80.54 % 84.26 % FASB Accounting Standards Codification (“ASC”) 718, Stock Compensation, requires the Company to recognize compensation expense for the portion of options that are expected to vest. Therefore, the Company applied estimated forfeiture rates that were derived from historical employee termination behavior. If the actual number of forfeitures differs from those estimated by management, additional adjustments to compensation expense may be required in future periods. As of December 31, 2018, there was $1.1 million of total unrecognized compensation cost related to unvested share-based compensation arrangements granted under the Company’s stock option plan. That cost is expected to be recognized over a weighted average period of 2.01 years and will be adjusted for subsequent changes in estimated forfeitures. The weighted average fair value of share-based compensation awards granted during the years ended December 31, 2018, 2017 and 2016 was approximately $1.01 per share, $2.45 per share and $6.06 per share, respectively. Additionally, as of December 31, 2018, there was $1.3 million of total unrecognized compensation cost related to unvested restricted stock units that have either time-based vesting or performance vesting.
Fair Value Measurement, Policy [Policy Text Block]	(i) Fair Value The Company utilizes valuation techniques that maximize the use of observable inputs and minimize the use of unobservable inputs to the extent possible. The Company determines fair value based on assumptions that market participants would use in pricing an asset or liability in the principal or most advantageous market. When considering market participant assumptions in fair value measurements, the following fair value hierarchy distinguishes between observable and unobservable inputs, which are categorized in one of the following levels: • Level 1 Inputs: Quoted prices for identical instruments in active markets. • Level 2 Inputs: Quoted prices for similar instruments in active markets, quoted prices for identical or similar instruments in markets that are not active, and model-derived valuation in which all significant inputs and significant value drivers are observable in active markets. • Level 3 Inputs: Valuations derived from valuation techniques in which one or more significant inputs or significant value drivers are unobservable. All of the Company’s financial instruments are valued using quoted prices in active markets or based on other observable inputs. For accrued interest income, prepaid and other current assets, accounts payable, and accrued expenses, the carrying amounts approximate fair value because of the short maturity of these instruments. The following table presents the placement in the fair value hierarchy of assets and liabilities that are measured at fair value on a recurring basis at December 31, 2018 and 2017: Fair value measurements at reporting date using December 31, 2018 Level 1 inputs Level 2 inputs Level 3 inputs Assets: Cash equivalents - money market funds and corporate bonds $ 7,331,005 $ 4,835,433 $ 2,495,572 $ - Government treasury bills 897,381 897,381 - - Corporate bonds, notes and commercial paper 6,275,656 - 6,275,656 - $ 14,504,042 $ 5,732,814 $ 8,771,228 $ - Fair value measurements at reporting date using December 31, 2017 Level 1 inputs Level 2 inputs Level 3 inputs Assets: Cash equivalents - money market funds $ 2,171,814 $ 2,171,814 $ - $ - Government bonds and notes 4,741,690 4,741,690 - - Corporate bonds, notes and commercial paper 13,515,631 - 13,515,631 - $ 20,429,135 $ 6,913,504 $ 13,515,631 $ - The following methods and assumptions were used to determine the fair value of each class of assets and liabilities recorded at fair value in the balance sheets: Cash equivalents: Cash equivalents primarily consist of highly-rated money market funds, commercial paper and treasury bills with original maturities to the Company of three months or less and are purchased daily at par value with specified yield rates. Cash equivalents related to money market funds and treasury bills are classified within Level 1 of the fair value hierarchy because they are valued using quoted market prices or broker or dealer quotations for similar assets. Cash equivalents related to commercial paper are classified within Level 2 of the fair value hierarchy because they are valued using broker/dealer quotes, bids and offers, benchmark yields and credit spreads and other observable inputs. Government bonds and notes: The Company uses a third-party pricing service to value these investments. United States Treasury bonds and notes are classified within Level 1 of the fair value hierarchy because they are valued using quoted market prices in active markets for identical assets and reportable trades. Other United States government agency bonds are classified within Level 2 of the fair value hierarchy because they are valued using broker/dealer quotes, bids and offers, benchmark yields and credit spreads and other observable inputs. Corporate bonds, notes, and commercial paper: The Company uses a third-party pricing service to value these investments. The pricing service utilizes broker/dealer quotes, bids and offers, benchmark yields and credit spreads and other observable inputs. The Company’s accounting policy is to recognize transfers between levels of the fair value hierarchy on the date of the event or change in circumstances that caused the transfer. There were no transfers into or out of Level 1 or Level 2 for the years ended December 31, 2018 and 2017.
Earnings Per Share, Policy [Policy Text Block]	(j) Earnings (Loss) per Share Basic earnings (loss) per share is calculated by dividing net income (loss) available to common shareholders by the weighted average number of common shares outstanding during the period. Diluted earnings (loss) per share is based on the weighted average number of common shares outstanding plus, where applicable, the additional potential common shares that would have been outstanding related to dilutive options, warrants, and unvested restricted stock units to the extent such shares are dilutive. The following table sets forth the computation of basic and diluted earnings (loss) per share of common stock for the years ended December 31, 2018, 2017 and 2016. Year Ended December 31, 2018 2017 2016 Basic loss per share attributable to common stock: Numerator Net loss $ (11,660,022 ) $ (20,982,860 ) $ (18,971,508 ) Denominator Weighted avg. common shares outstanding 21,352,339 20,051,934 18,258,149 Basic loss per share attributable to common stock $ (0.55 ) $ (1.05 ) $ (1.04 ) Diluted loss per share attributable to common stock: Numerator Net loss $ (11,660,022 ) $ (20,982,860 ) $ (18,971,508 ) Denominator Weighted avg. common shares outstanding 21,352,339 20,051,934 18,258,149 Diluted loss per share attributable to common stock $ (0.55 ) $ (1.05 ) $ (1.04 ) The computation of diluted earnings per share for the years ended December 31, 2018, 2017 and 2016 does not include stock options and unvested restricted stock units to purchase shares in the computation of diluted earnings per share because these instruments were antidilutive: December 31, 2018 2017 2016 Stock options 2,424,617 2,374,449 2,225,850 Unvested restricted stock awards — — — Unvested restricted stock units 682,124 203,998 —
Segment Reporting, Policy [Policy Text Block]	(k) Segment Information The Company is a single reportable segment engaged in research and development for the delivery of drugs using its proprietary delivery technology. Operating segments are identified as components of an enterprise for which separate discrete financial information is available for evaluation by the chief operating decision maker in making decisions regarding resource allocation and assessing performance. The chief operating decision maker made such decisions and assessed performance at the company level, as one segment.
Consolidation, Policy [Policy Text Block]	(l) Principles of Consolidation The consolidated financial statements include the accounts of the Company and all subsidiaries. The Company eliminates all intercompany accounts and transactions in consolidation.

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Tables)	12 Months Ended
	Dec. 31, 2018
Accounting Policies [Abstract]
Schedule of Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Table Text Block]	Stock-based compensation cost that has been expensed in the statements of operations amounted to $ 1.5 2.7 2.4 Year Ended 2018 2017 2016 Research and development $ 587,437 $ 794,367 $ 629,400 General and administrative 870,283 1,921,775 1,691,949 Restructuring costs - - 51,266 $ 1,457,720 $ 2,716,142 $ 2,372,615
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block]	For options granted in 2018, 2017 and 2016, the Company calculated the fair value of each option grant on the respective dates of grant using the following weighted average assumptions: 2018 2017 2016 Expected term 5.78 years 5.85 years 5.84 years Risk-free interest rate 2.80 % 2.13 % 1.76 % Expected dividend yield — — — Expected volatility 83.56 % 80.54 % 84.26 %
Fair Value, Assets Measured on Recurring Basis [Table Text Block]	The following table presents the placement in the fair value hierarchy of assets and liabilities that are measured at fair value on a recurring basis at December 31, 2018 and 2017: Fair value measurements at reporting date using December 31, 2018 Level 1 inputs Level 2 inputs Level 3 inputs Assets: Cash equivalents - money market funds and corporate bonds $ 7,331,005 $ 4,835,433 $ 2,495,572 $ - Government treasury bills 897,381 897,381 - - Corporate bonds, notes and commercial paper 6,275,656 - 6,275,656 - $ 14,504,042 $ 5,732,814 $ 8,771,228 $ - Fair value measurements at reporting date using December 31, 2017 Level 1 inputs Level 2 inputs Level 3 inputs Assets: Cash equivalents - money market funds $ 2,171,814 $ 2,171,814 $ - $ - Government bonds and notes 4,741,690 4,741,690 - - Corporate bonds, notes and commercial paper 13,515,631 - 13,515,631 - $ 20,429,135 $ 6,913,504 $ 13,515,631 $ -
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]	Year Ended December 31, 2018 2017 2016 Basic loss per share attributable to common stock: Numerator Net loss $ (11,660,022 ) $ (20,982,860 ) $ (18,971,508 ) Denominator Weighted avg. common shares outstanding 21,352,339 20,051,934 18,258,149 Basic loss per share attributable to common stock $ (0.55 ) $ (1.05 ) $ (1.04 ) Diluted loss per share attributable to common stock: Numerator Net loss $ (11,660,022 ) $ (20,982,860 ) $ (18,971,508 ) Denominator Weighted avg. common shares outstanding 21,352,339 20,051,934 18,258,149 Diluted loss per share attributable to common stock $ (0.55 ) $ (1.05 ) $ (1.04 )
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share [Table Text Block]	The computation of diluted earnings per share for the years ended December 31, 2018, 2017 and 2016 does not include stock options and unvested restricted stock units to purchase shares in the computation of diluted earnings per share because these instruments were antidilutive: December 31, 2018 2017 2016 Stock options 2,424,617 2,374,449 2,225,850 Unvested restricted stock awards — — — Unvested restricted stock units 682,124 203,998 —

Marketable Investment Securit_2

Marketable Investment Securities (Tables)	12 Months Ended
	Dec. 31, 2018
Investments, Debt and Equity Securities [Abstract]
Available-for-sale Securities [Table Text Block]	December 31, 2018 Amortized Cost Gross unrealized holding gains Gross unrealized holding losses Aggregate fair value Government treasury bills $ 897,481 $ - $ (100 ) $ 897,381 Corporate bonds, notes and commercial paper 6,276,535 - (879 ) 6,275,656 $ 7,174,016 $ - $ (979 ) $ 7,173,037 December 31, 2017 Amortized Cost Gross unrealized holding gains Gross unrealized holding losses Aggregate fair value Government bonds and notes $ 4,744,566 $ - $ (2,876 ) $ 4,741,690 Corporate bonds, notes and commercial paper 13,517,371 - (1,740 ) 13,515,631 $ 18,261,937 $ - $ (4,616 ) $ 18,257,321
Maturities of Marketable Investment Securities [Table Text Block]	Maturities of debt securities classified as available-for-sale securities at December 31, 2018 are as follows: Amortized Cost Aggregate fair value Due within one year $ 7,174,016 $ 7,173,037 $ 7,174,016 $ 7,173,037

Loan and Security Agreement (Ta

Loan and Security Agreement (Tables)	12 Months Ended
	Dec. 31, 2018
Debt Disclosure [Abstract]
Schedule of Maturities of Long-term Debt [Table Text Block]	Principal payments on debt at December 31, 2018, are as follows: Years Ending December 31, Amount (in thousands) 2019 $ 3,333 2020 3,333 2021 3,334 Thereafter — $ 10,000
Cash And Cash Equivalents Restricted Cash And Cash Equivalents [Table Text Block]	The following table provides a reconciliation of cash, cash equivalents, and restricted cash reported within the consolidated balance sheet that sum to the total of the same such amounts shown in the statement of cash flows. December 31, 2018 Cash and cash equivalents $ 8,077,539 Restricted cash 5,000,000 Cash, cash equivalents, and retricted cash shown in the statement of cash flows $ 13,077,539

Property and Equipment (Tables)

Property and Equipment (Tables)	12 Months Ended
	Dec. 31, 2018
Property, Plant and Equipment [Abstract]
Property, Plant and Equipment [Table Text Block]	Property and equipment consisted of the following: December 31, 2018 December 31, 2017 Computer equipment and software $ 43,361 $ 43,361 Lab and office equipment 1,048,932 1,048,932 Furniture and fixtures 51,404 103,857 1,143,697 1,196,150 Less accumulated depreciation (1,124,700 ) (1,121,080 ) $ 18,997 $ 75,070

Income Taxes (Tables)

Income Taxes (Tables)	12 Months Ended
	Dec. 31, 2018
Income Tax Disclosure [Abstract]
Schedule of Components of Income Tax Expense (Benefit) [Table Text Block]	Income tax expense consists of: December 31, 2018 2017 2016 U.S. federal $ - $ - $ - State and local 700 700 752 Deferred - - - Total $ 700 $ 700 $ 752
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block]	Income tax expense was $700, $700 and $752, respectively, for the years ended December 31, 2018, 2017 and 2016 and differed from the amounts computed by applying the U.S. federal income tax rate of 21%, 34%, and 34% for 2018, 2017, and 2016, respectively, to pretax income from continuing operations as a result of the following: December 31, 2018 2017 2016 Computed "expected" tax expense (benefit) $ (2,448,457 ) $ (7,133,934 ) $ (6,450,075 ) Increase (reduction) in income taxes resulting from: Change in valuation allowance 2,671,563 (6,173,708 ) 6,709,591 Difference associated with federal rate change - 13,240,342 - State and local income taxes, net of federal income tax benefit 553 462 496 Stock expense 136,903 684,854 200,002 Research and development tax credits (266,163 ) (394,470 ) (337,968 ) Orphan drug tax credit (95,822 ) (227,109 ) (127,641 ) Other, net 2,123 4,263 6,347 $ 700 $ 700 $ 752
Schedule of Deferred Tax Assets and Liabilities [Table Text Block]	The tax effects of temporary differences that give rise to significant portions of the deferred tax assets and deferred tax liabilities at December 31, 2018 and 2017 are presented below. December 31, 2018 2017 Deferred tax assets: Stock-based compensation $ 1,540,215 $ 1,330,706 Net operating loss carryforwards 27,397,503 25,395,518 Employee benefits 48,294 54,729 Research and development tax credits 3,362,473 3,012,081 Orphan drug tax credits 1,144,583 1,023,290 Plant and equipment 234 - Other deductible tempory differences 378 104 Total gross deferred tax assets 33,493,680 30,816,428 Less valuation allowance (33,493,680 ) (30,813,270 ) Net deferred tax assets - 3,158 Deferred tax liabilities: Plant and equipment - (3,158 ) Total gross deferred tax liabilities - (3,158 ) Net deferred tax liabilities $ - $ -
Schedule of Unrecognized Tax Benefits Roll Forward [Table Text Block]	A reconciliation of the beginning and ending amount of total unrecognized tax contingencies, excluding interest and penalties, for the years ended December 31, 2018 and 2017 are as follows: December 31, 2018 2017 Balance, beginning of year $ - $ - Balance, end of year $ - $ -

Leases (Tables)

Leases (Tables)	12 Months Ended
	Dec. 31, 2018
Leases [Abstract]
Schedule of Future Minimum Rental Payments for Operating Leases [Table Text Block]	Future minimum lease payments under non-cancelable operating leases as of December 31, 2018 are: Operating leases Year ending December 31: 2019 53,460 Total minimum lease payments $ 53,460

Stockholders' Equity (Tables)

Stockholders' Equity (Tables)	12 Months Ended
	Dec. 31, 2018
Stockholders' Equity Note [Abstract]
Schedule of Stock Options Roll Forward [Table Text Block]	A summary of stock option activity is as follows: Outstanding stock options Number of shares Weighted average exercise price Balance at December 31, 2017 2,374,449 $ 5.64 Options granted 423,000 1.42 Options exercised - - Options forfeited (259,913 ) 4.05 Options cancelled (112,919 ) 7.15 Balance at December 31, 2018 2,424,617 5.00 Options exercisable at December 31, 2018 1,693,892 6.12
Share based Compensation Stock Options Outstanding and Options Exercisable [Table Text Block]	The following table summarizes information about stock options outstanding and exercisable at December 31, 2018: Options outstanding Options exercisable Number outstanding Weighted average remaining contractual life (Years) Weighted average exercise price Aggregate intrinsic value Number exerciseable Weighted average remaining contractual life (Years) Weighted average exercise price Aggregate intrinsic value 2,424,617 6.54 $ 5.00 $ 15,350 1,693,892 5.33 $ 6.12 $ -
Schedule of Nonvested Restricted Stock Units Activity [Table Text Block]	A summary of restricted stock unit activity is as follows: Number of unvested restricted stock units Balance at December 31, 2017 203,998 Granted 540,000 Vested - Cancelled (61,874 ) Balance at December 31, 2018 682,124

Selected Quarterly Financial _2

Selected Quarterly Financial Information (Tables)	12 Months Ended
	Dec. 31, 2018
Quarterly Financial Information Disclosure [Abstract]
Quarterly Financial Information [Table Text Block]	The following table provides a summary of selected financial results of operations by quarter for the years ended December 31, 2018 and 2017: 2018 First Second Third Fourth Total revenues $ 428,031 $ - $ - $ - Operating loss (2,636,986 ) (3,164,410 ) (2,353,056 ) (3,171,367 ) Net loss (2,719,971 ) (3,255,501 ) (2,459,072 ) (3,225,478 ) Basic loss per share attributable to common stock (0.13 ) (0.15 ) (0.12 ) (0.15 ) Diluted loss per share attributable to common stock (0.13 ) (0.15 ) (0.12 ) (0.15 ) 2017 First Second Third Fourth Operating loss $ (4,908,915 ) $ (6,140,618 ) $ (4,766,059 ) $ (5,402,384 ) Net loss (4,861,260 ) (6,089,766 ) (4,700,248 ) (5,331,586 ) Basic loss per share attributable to common stock (0.26 ) (0.31 ) (0.22 ) (0.25 ) Diluted loss per share attributable to common stock (0.26 ) (0.31 ) (0.22 ) (0.25 )

Summary of Significant Accoun_4

Summary of Significant Accounting Policies (Details) - USD ($)	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Allocated Share-based Compensation Expense	$ 1,457,720	$ 2,716,142	$ 2,372,615
Research and Development Expense [Member]
Allocated Share-based Compensation Expense	587,437	794,367	629,400
General and Administrative Expense [Member]
Allocated Share-based Compensation Expense	870,283	1,921,775	1,691,949
Restructuring Costs [Member]
Allocated Share-based Compensation Expense	$ 0	$ 0	$ 51,266

Summary of Significant Accoun_5

Summary of Significant Accounting Policies (Details 1)	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Expected term	5 years 9 months 11 days	5 years 10 months 6 days	5 years 10 months 2 days
Risk-free interest rate	2.80%	2.13%	1.76%
Expected dividend yield	8212.00%	8212.00%	8212.00%
Expected volatility	83.56%	80.54%	84.26%

Summary of Significant Accoun_6

Summary of Significant Accounting Policies (Details 2) - USD ($)	Dec. 31, 2018	Dec. 31, 2017
Assets:
Marketable Investment Securities	$ 7,173,037	$ 18,257,321
Assets, Fair Value	14,504,042	20,429,135
Money Market Funds [Member]
Assets:
Cash equivalents - money market funds	7,331,005	2,171,814
Government Bonds and Notes [Member]
Assets:
Marketable Investment Securities	897,381	4,741,690
Corporate Bonds, Notes and Commercial Paper [Member]
Assets:
Marketable Investment Securities	6,275,656	13,515,631
Fair Value, Inputs, Level 1 [Member]
Assets:
Assets, Fair Value	5,732,814	6,913,504
Fair Value, Inputs, Level 1 [Member] | Money Market Funds [Member]
Assets:
Cash equivalents - money market funds	4,835,433	2,171,814
Fair Value, Inputs, Level 1 [Member] | Government Bonds and Notes [Member]
Assets:
Marketable Investment Securities	897,381	4,741,690
Fair Value, Inputs, Level 1 [Member] | Corporate Bonds, Notes and Commercial Paper [Member]
Assets:
Marketable Investment Securities	0	0
Fair Value, Inputs, Level 2 [Member]
Assets:
Assets, Fair Value	8,771,228	13,515,631
Fair Value, Inputs, Level 2 [Member] | Money Market Funds [Member]
Assets:
Cash equivalents - money market funds	2,495,572	0
Fair Value, Inputs, Level 2 [Member] | Government Bonds and Notes [Member]
Assets:
Marketable Investment Securities	0	0
Fair Value, Inputs, Level 2 [Member] | Corporate Bonds, Notes and Commercial Paper [Member]
Assets:
Marketable Investment Securities	6,275,656	13,515,631
Fair Value, Inputs, Level 3 [Member]
Assets:
Assets, Fair Value	0	0
Fair Value, Inputs, Level 3 [Member] | Money Market Funds [Member]
Assets:
Cash equivalents - money market funds	0	0
Fair Value, Inputs, Level 3 [Member] | Government Bonds and Notes [Member]
Assets:
Marketable Investment Securities	0	0
Fair Value, Inputs, Level 3 [Member] | Corporate Bonds, Notes and Commercial Paper [Member]
Assets:
Marketable Investment Securities	$ 0	$ 0

Summary of Significant Accoun_7

Summary of Significant Accounting Policies (Details 3) - USD ($)	3 Months Ended								12 Months Ended
	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Basic loss per share attributable to common stock: Numerator
Net loss									$ (11,660,022)	$ (20,982,860)	$ (18,971,508)
Denominator
Weighted avg. common shares outstanding									21,352,339	20,051,934	18,258,149
Basic loss per share attributable to common stock (in dollars per share)	$ (0.15)	$ (0.12)	$ (0.15)	$ (0.13)	$ (0.25)	$ (0.22)	$ (0.31)	$ (0.26)	$ (0.55)	$ (1.05)	$ (1.04)
Diluted loss per share attributable to common stock: Numerator
Net loss									$ (11,660,022)	$ (20,982,860)	$ (18,971,508)
Denominator
Weighted avg. common shares outstanding									21,352,339	20,051,934	18,258,149
Diluted loss per share attributable to common stock (in dollars per share)	$ (0.15)	$ (0.12)	$ (0.15)	$ (0.13)	$ (0.25)	$ (0.22)	$ (0.31)	$ (0.26)	$ (0.55)	$ (1.05)	$ (1.04)

Summary of Significant Accoun_8

Summary of Significant Accounting Policies (Details 4) - shares	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Unvested Restricted Stock Awards [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	0	0	0
Unvested Resticted Stock Units [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	682,124	203,998	0
Stock Options [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	2,424,617	2,374,449	2,225,850

Summary of Significant Accoun_9

Summary of Significant Accounting Policies (Details Textual) - USD ($)	1 Months Ended		12 Months Ended
	Jul. 31, 2017	Aug. 31, 2016	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Allocated Share-based Compensation Expense			$ 1,457,720	$ 2,716,142	$ 2,372,615
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized			$ 1,100,000
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition			2 years 4 days
Cash Equivalents, at Carrying Value			$ 7,300,000	$ 2,200,000
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Weighted Average Grant Date Fair Value			$ 1.01	$ 2.45	$ 6.06
2016 Restructuring Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Nonvested, Number of Shares		61,487
Share-based Compensation Arrangement by Share-based Payment Award, Plan Modification, Incremental Compensation Cost		$ 51,000
Employee Stock Option [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross			423,000	543,000	990,000
Restricted Stock Units (RSUs) [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Nonvested, Number of Shares	11,250
Share-based Compensation Arrangement by Share-based Payment Award, Plan Modification, Incremental Compensation Cost	$ 46,000
Stock Issued During Period, Shares, Restricted Stock Award, Gross			540,000	287,000
Unvested restricted stock units [Member]
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized			$ 1.3

Marketable Investment Securit_3

Marketable Investment Securities (Details) - USD ($)	Dec. 31, 2018	Dec. 31, 2017
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	$ 7,174,016	$ 18,261,937
Gross unrealized holding gains	0	0
Gross unrealized holding losses	(979)	(4,616)
Aggregate fair value	7,173,037	18,257,321
Government bonds and notes [Member]
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	897,481	4,744,566
Gross unrealized holding gains	0	0
Gross unrealized holding losses	(100)	(2,876)
Aggregate fair value	897,381	4,741,690
Corporate bonds, notes and commercial paper [Member]
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	6,276,535	13,517,371
Gross unrealized holding gains	0	0
Gross unrealized holding losses	(879)	(1,740)
Aggregate fair value	$ 6,275,656	$ 13,515,631

Marketable Investment Securit_4

Marketable Investment Securities (Details 1)	Dec. 31, 2018USD ($)
Amortized Cost
Due within one year	$ 7,174,016
Amortized Cost, Total	7,174,016
Aggregate fair value
Due within one year	7,173,037
Aggregate fair value, Total	$ 7,173,037

Marketable Investment Securit_5

Marketable Investment Securities (Details Textual) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Proceeds from Sale and Maturity of Marketable Securities	$ 36.8	$ 36.2	$ 28.6

Contractual Agreements (Details

Contractual Agreements (Details Textual) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Contract Research And Development [Member]
Schedule of Contractual Agreements [Line Items]
Other Research and Development Expense	$ 4.1	$ 8.5	$ 5.5
Abbott Products, Inc. [Member] | Collaborative Arrangement [Member]
Schedule of Contractual Agreements [Line Items]
Collaborative Arrangement, Termination Date	Mar. 29, 2012
Collaborative Arrangement, Rights and Obligations	All obligations under the prior license agreement have been completed except that Lipocine will owe Abbott a perpetual 1% royalty on net sales.
Collaborative Arrangement, Royalties, Maximum Amount	$ 1
Collaborative Arrangement, Royalties, Percentage of Reduction	50.00%

Restructuring Charges (Details

Restructuring Charges (Details Textual) - USD ($)	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Restructuring Cost and Reserve [Line Items]
Restructuring Charges	$ 0	$ 0	$ 728,635
2016 Restructuring Plan [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring Charges			729,000
Severance Costs			678,000
Non Cash Cost Extend Exercise Period Vested Options			$ 51,000
Restructuring and Related Cost, Number of Positions Eliminated, Period Percent			33.00%

Loan and Security Agreement (De

Loan and Security Agreement (Details) $ in Thousands	Dec. 31, 2018USD ($)
Debt Disclosure [Abstract]
2,019	$ 3,333
2,020	3,333
2,021	3,334
Thereafter	0
Long-term Debt	$ 10,000

Loan and Security Agreement (_2

Loan and Security Agreement (Details 1) - USD ($)	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Debt Disclosure [Abstract]
Cash and cash equivalents	$ 8,077,539	$ 3,210,749
Restricted cash	5,000,000	0
Cash, cash equivalents, and retricted cash shown in the statement of cash flows	$ 13,077,539	$ 3,210,749	$ 5,560,716	$ 20,007,659

Loan and Security Agreement (_3

Loan and Security Agreement (Details Textual) - Loan and Security Agreement [Member] - Silicon Valley Bank [Member] - USD ($)	Jan. 05, 2018	May 31, 2018
Debt Instrument, Face Amount	$ 10,000,000
Debt Instrument, Maturity Date	Dec. 1, 2021
Debt Instrument, Periodic Payment Terms, Balloon Payment to be Paid	$ 650,000
Cash Collateral for Borrowed Securities		$ 5,000,000
Debt Instrument, Interest Rate Terms	interest at a rate equal to the Prime Rate, as reported in the money rates section of The Wall Street Journal or any successor publication representing the rate of interest per annum then in effect, plus one percent per annum (6.5% as of December 31, 2018), which interest is payable monthly.
Debt Instrument, Payment Terms	The Company is only required to make monthly interest payments until December 31, 2018, following which the Company will be required to also make equal monthly payments of principal and interest for the remainder of the term.
Debt Instrument, Debt Default, Description of Violation or Event of Default	These events of default include, among other things, any failure by the Company to pay principal or interest due under the credit facility, a breach of certain covenants under the credit facility, the Company's insolvency, a material adverse change, and one or more judgments against the Company in an amount greater than $100,000 individually or in the aggregate.
Debt Instrument Basis Spread On Interest Rate On Debt Default	5.00%

Property and Equipment (Details

Property and Equipment (Details) - USD ($)	Dec. 31, 2018	Dec. 31, 2017
Property, Plant and Equipment [Line Items]
Computer equipment and software	$ 43,361	$ 43,361
Lab and office equipment	1,048,932	1,048,932
Furniture and fixtures	51,404	103,857
Property, Plant and Equipment, Gross	1,143,697	1,196,150
Less accumulated depreciation	(1,124,700)	(1,121,080)
Property, Plant and Equipment, Net	$ 18,997	$ 75,070

Property and Equipment (Detai_2

Property and Equipment (Details Textual) - USD ($)	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Property, Plant and Equipment [Line Items]
Depreciation, Depletion and Amortization, Nonproduction	$ 18,595	$ 28,370	$ 31,960

Income Taxes (Details)

Income Taxes (Details) - USD ($)	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Income Taxes [Line Items]
U.S. federal	$ 0	$ 0	$ 0
State and local	700	700	752
Deferred	0	0	0
Income Tax Expense (Benefit)	$ 700	$ 700	$ 752

Income Taxes (Details 1)

Income Taxes (Details 1) - USD ($)	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Income Taxes [Line Items]
Computed "expected" tax expense (benefit)	$ (2,448,457)	$ (7,133,934)	$ (6,450,075)
Increase (reduction) in income taxes resulting from:
Change in valuation allowance	2,671,563	(6,173,708)	6,709,591
Difference associated with federal rate change		13,240,342	0
State and local income taxes, net of federal income tax benefit	553	462	496
Stock expense	136,903	684,854	200,002
Research and development tax credits	(266,163)	(394,470)	(337,968)
Orphan drug tax credit	(95,822)	(227,109)	(127,641)
Other, net	2,123	4,263	6,347
Income Tax Expense (Benefit)	$ 700	$ 700	$ 752

Income Taxes (Details 2)

Income Taxes (Details 2) - USD ($)	Dec. 31, 2018	Dec. 31, 2017
Deferred tax assets:
Stock-based compensation	$ 1,540,215	$ 1,330,706
Net operating loss carryforwards	27,397,503	25,395,518
Employee benefits	48,294	54,729
Research and development tax credits	3,362,473	3,012,081
Orphan drug tax credits	1,144,583	1,023,290
Plant and equipment	234
Other deductible tempory differences	378	104
Total gross deferred tax assets	33,493,680	30,816,428
Less valuation allowance	(33,493,680)	(30,813,270)
Net deferred tax assets	0	3,158
Deferred tax liabilities:
Plant and equipment	0	(3,158)
Total gross deferred tax liabilities	0	(3,158)
Net deferred tax liabilities	$ 0	$ 0

Income Taxes (Details 3)

Income Taxes (Details 3) - USD ($)	Dec. 31, 2018	Dec. 31, 2017
Income Taxes [Line Items]
Balance, beginning of year	$ 0	$ 0
Balance, end of year	$ 0	$ 0

Income Taxes (Details Textual)

Income Taxes (Details Textual) - USD ($)	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Income Taxes [Line Items]
Income Tax Expense (Benefit)	$ 700	$ 700	$ 752
Operating Loss Carryforwards	$ 106,600,000
Operating Loss Carry forwards Expiration Date1	Approximately $25.7 million of the NOL will expire between 2023 and 2033 and $70.8 million of the NOL will expire 2034 through 2037. Pursuant to the Tax Cuts and Jobs Act of 2017, NOL's generated in 2018 and subsequent years have an unlimited carryforward therefore the 2018 NOL of $10.1 million can be carried forward indefinitely. The research and development credits will begin to expire in 2033 through 2038.
Tax Credit Carryforward, Amount	$ 2,300,000
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent	21.00%	34.00%	34.00%
Deferred Tax Assets, Valuation Allowance	$ 33,493,680	$ 30,813,270
Valuation Allowance, Deferred Tax Asset, Increase (Decrease), Amount	2,700,000	5,100,000
Operating Loss Carry forwards Limitations On Use Amount	1,100,000
Operating Loss Carry forwards Pre-ownership Change Amount	20,200,000
Operating Loss Forgive Pre-ownership Change Amount	5,500,000
Tax Credit Carryforward Pre-ownership Change Amount	1,200,000
Effective Income Tax Rate Reconciliation, Change in Enacted Tax Rate, Amount		$ 13,240,342	$ 0
Scenario, Plan [Member]
Income Taxes [Line Items]
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent	21.00%
U.S. Federal [Member]
Income Taxes [Line Items]
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent		34.00%
U.S. Federal [Member] | Research and Development Expense [Member]
Income Taxes [Line Items]
Tax Credit Carryforward, Description	expire in 2033 through 2038.
State And Local [Member]
Income Taxes [Line Items]
Operating Loss Carryforwards	$ 100,200,000
Operating Loss Carry forwards Expiration Date1	Approximately $194,000 of the Company's state NOL expires in 2019, $37.5 million expires between 2020 and 2029, and $62.4 million will expire in 2030 through 2033. The state research and development credits expire in 2023 through 2032.
State And Local [Member] | Research and Development Expense [Member]
Income Taxes [Line Items]
Tax Credit Carryforward, Amount	$ 1,100,000
Tax Credit Carryforward, Description	expire in 2023 through 2032.
Domestic Tax Authority [Member]
Income Taxes [Line Items]
Operating loss carry forwards non expire date	Pursuant to the Tax Cuts and Jobs Act of 2017, NOL’s generated in 2018 and subsequent years have an unlimited carryforward therefore the 2018 NOL of $10.1 million can be carried forward indefinitely.

Leases (Details)

Leases (Details)	Dec. 31, 2018USD ($)
Year ending December 31:
2,019	$ 53,460
Total minimum lease payments	$ 53,460

Leases (Details Textual)

Leases (Details Textual) - USD ($)	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Operating Leased Assets [Line Items]
Operating Leases, Rent Expense	$ 323,000	$ 379,000	$ 374,000

Stockholders' Equity (Details)

Stockholders' Equity (Details) - Employee Stock Option [Member] - $ / shares	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares, Balance at beginning of the period (in shares)	2,374,449
Number of shares, Options granted (in shares)	423,000	543,000	990,000
Number of shares, Options exercised (in shares)	0
Number of shares, Options forfeited (in shares)	(259,913)
Number of shares, Options cancelled (in shares)	(112,919)
Number of shares, Balance at end of the period (in shares)	2,424,617	2,374,449
Number of shares, Options exercisable (in shares)	1,693,892
Weighted average exercise price, Balance at beginning of the period (in dollars per share)	$ 5.64
Weighted average exercise price, Options granted (in dollars per share)	1.42
Weighted average exercise price, Options exercised (in dollars per share)	0
Weighted average exercise price, Options forfeited (in dollars per share)	4.05
Weighted average exercise price, Options cancelled (in dollars per share)	7.15
Weighted average exercise price, Balance at end of the period (in dollars per share)	5	$ 5.64
Weighted average exercise price, Options exercisable (in dollars per share)	$ 6.12

Stockholders' Equity (Details 1

Stockholders' Equity (Details 1) - Employee Stock Option [Member] - USD ($)	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of options outstanding	2,424,617	2,374,449
Options outstanding, Weighted average remaining contractual life (Years)	6 years 6 months 14 days
Options outstanding, Weighted average exercise price (in dollars per share)	$ 5	$ 5.64
Options outstanding, Aggregate intrinsic value	$ 15,350
Number of options exerciseable	1,693,892
Options exercisable, Weighted average remaining contractual life (Years)	5 years 3 months 29 days
Options exercisable, Weighted average exercise price (in dollars per share)	$ 6.12
Options exercisable, Aggregate intrinsic value	$ 0

Stockholders' Equity (Details 2

Stockholders' Equity (Details 2) - Restricted Stock [Member]	12 Months Ended
	Dec. 31, 2018shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares, Balance at beginning of the period	203,998
Number of shares, Granted	540,000
Number of shares, Vested	0
Number of shares, Cancelled	(61,874)
Number of shares, Balance at end of the period	682,124

Stockholders' Equity (Details T

Stockholders' Equity (Details Textual) - USD ($)	Mar. 04, 2019	Nov. 13, 2015	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016	Sep. 20, 2018	Oct. 13, 2017	Mar. 31, 2017	Jun. 30, 2016	Apr. 30, 2014
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period, Intrinsic Value				$ 223,000	$ 216,000
Proceeds from Issuance of Common Stock			$ 652,334	10,644,883	$ 0
Class of Warrant or Right, Redemption Price of Warrants or Rights		$ 63.96	$ 0.001
Class of Warrant or Right, Date from which Warrants or Rights Exercisable			Nov. 12, 2018
Controlled Equity Offering Sales Agreement Maximum Amount Authorized						$ 10,800,000		$ 20,000,000
Shares Issued, Price Per Share			$ 1.45
Stock Issued During Period, Value, New Issues			$ 652,334	$ 10,644,883
Common Stock Preferred Stock Debt Securities Warrants And Units To Be Sold Amount Maximum							$ 150,000,000
Common Stock Additional Amount Authorized							$ 25,000,000
Equity Method Investment, Ownership Percentage		15.00%
Weighted Average Price Two [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares Issued, Price Per Share				$ 4.40
Subsequent Event [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock Issued During Period, Shares, New Issues	2,141,752
Proceeds from Issuance of Common Stock	$ 4.4
Stock Issued During Period, Value, New Issues	$ 4.6
Subsequent Event [Member] | Weighted Average Price Two [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares Issued, Price Per Share	$ 2.14
Common Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period			0	206,813	208,869
Stock Issued During Period, Shares, New Issues			466,947	2,518,109
Stock Issued During Period, Value, New Issues			$ 47	$ 252
Accredited Investors [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock Issued During Period, Shares, New Issues			466,947	2,518,109
Proceeds from Issuance of Common Stock			$ 652,000
Stock Issued During Period, Value, New Issues			$ 678,000
At The Market Offering [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock Issued During Period, Shares, New Issues			2,985,056
Proceeds from Issuance of Common Stock			$ 11,300,000	$ 10,600,000
Shares Issued, Price Per Share			$ 3.94
Stock Issued During Period, Value, New Issues			$ 11,800,000	$ 11,100,000
Plan 2014 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized			3,221,906
2014 Equity Incentive Plans [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized										1,000,000
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant			794,814
2011 Equity Incentive Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant										271,906
Maximum [Member] | 2014 Equity Incentive Plans [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized			3,221,906						2,471,906
Minimum [Member] | 2014 Equity Incentive Plans [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized			2,471,906						1,271,906

401(k) Plan (Details Textual)

401(k) Plan (Details Textual) - USD ($)	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Defined Contribution Plan, Cost	$ 84,000	$ 82,000	$ 128,000
Defined Contribution Plan, Employer Matching Contribution, Percent of Match	100.00%

Commitments and Contingencies (

Commitments and Contingencies (Details Textual) - USD ($)	Dec. 31, 2018	Dec. 31, 2017
Estimated Litigation Liability, Current	$ 0	$ 4,250,000
Insurance Settlements Receivable, Current	$ 0	$ 3,319,927

Agreement with Spriaso, LLC (De

Agreement with Spriaso, LLC (Details Textual) - USD ($)	1 Months Ended	12 Months Ended
	Jul. 23, 2013	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016	Jan. 23, 2015
Related Party Transaction [Line Items]
Percentage Of Fee To Be Received	20.00%
Maximum Proceeds From Affiliates Under License Agreement	$ 10,000,000
Description Of Terms Of Service Agreement		Under the service agreement, the Company provided facilities and up to 10 percent of the services of certain employees to Spriaso for a period of 18 months which expired
Service Fee					$ 230
Proceeds From Reimbursement		$ 5,000	$ 31,000	$ 3,000
Proceeds from License Fees Received		$ 428,000	$ 0	$ 0

Selected Quarterly Financial _3

Selected Quarterly Financial Information (Details) - USD ($)	3 Months Ended								12 Months Ended
	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Total revenues	$ 0	$ 0	$ 0	$ 428,031					$ 428,031	$ 0	$ 0
Operating loss	(3,171,367)	(2,353,056)	(3,164,410)	(2,636,986)	$ (5,402,384)	$ (4,766,059)	$ (6,140,618)	$ (4,908,915)	(11,325,819)	(21,217,976)	(19,186,834)
Net loss	$ (3,225,478)	$ (2,459,072)	$ (3,255,501)	$ (2,719,971)	$ (5,331,586)	$ (4,700,248)	$ (6,089,766)	$ (4,861,260)	$ (11,660,022)	$ (20,982,860)	$ (18,971,508)
Basic loss per share attributable to common stock (in dollars per share)	$ (0.15)	$ (0.12)	$ (0.15)	$ (0.13)	$ (0.25)	$ (0.22)	$ (0.31)	$ (0.26)	$ (0.55)	$ (1.05)	$ (1.04)
Diluted loss per share attributable to common stock (in dollars per share)	$ (0.15)	$ (0.12)	$ (0.15)	$ (0.13)	$ (0.25)	$ (0.22)	$ (0.31)	$ (0.26)	$ (0.55)	$ (1.05)	$ (1.04)