Item 3.01 Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing.

On January 14, 2022, Lipocine Inc. ("Lipocine") received written notice from the staff (the "Staff") of the Listing Qualifications Department of The Nasdaq Stock Market ("Nasdaq") indicating the Company is no longer in compliance with Nasdaq Listing Rules set forth in Listing Rule 5605, which requires a majority independent board, audit committee and compensation committee. Pursuant to Nasdaq Listing Rules 5605(b)(1)(A), 5605(c)(4) and 5605(d)(4), the Company is entitled to a cure period to regain compliance with Nasdaq Listing requirements, which cure period will expire at the earlier of the Company's 2022 annual meeting of stockholders (the "2022 Annual Meeting") or June 6, 2022. The Company intends to appoint an additional independent director to the board of directors, audit committee and compensation committee prior to the end of the cure period.

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