On January 17, 2022, Morgan Brown provided Lipocine Inc. (the “Company”) with notice of his intent to resign from his position as Chief Financial Officer of the Company, effective as of January 31, 2022. Mr. Brown's resignation is not a result of any disagreement with the Company or its Board of Directors, or any matter relating to the Company's operations, policies, or practices. The Company has commenced a search process to identify Mr. Brown's successor.

Upon the effective date of Mr. Brown's resignation, Mahesh Patel, the Company's President and Chief Executive Officer, will serve as the Company's Principal Financial Officer on an interim basis until Mr. Brown's successor is appointed.