NEW YORK (TheStreet) -- Shares of Lipocine (LPCN) - Get Report soared 50.4% to $7.85 in morning trading Wednesday after the pharmaceutical company announced positive results from its Phase 3 trial of its oral treatment LPCN 1021 for low testosterone in a study of oral androgen replacement, or SOAR.
The treatment met its primary efficacy endpoint in the trial as it restored testosterone levels to the normal range in 88% of male subjects with hypogonadism, a condition in which the body does not produce enough testosterone. The company reported no serious adverse events in relation to the drug.
Lipocine reiterated its expectation to file a New Drug Application with the FDA in the second half of 2015.
More than 1.7 million shares had changed hands as of 9:50 a.m., compared to the average volume of 56,477.