EXHIBIT 99.3

AUA abstract

Word Count: 2280 characters (not including spaces, but including title) allowed; current draft has 2261 characters.

Hypogonadal Men with Sexual Function Disorder Benefit from LPCN 1021 (Oral Testosterone) – SOAR (Study of Androgen Replacement) Trial

Culley C. Carson, MD¹, Mohit Khera, MD², Adrian S Dobs, MD, MHS³, Christina Wang, MD⁴, Jed C. Kaminetsky, MD⁵, Irwin Goldstein, MD⁶, Anthony DelConte, MD^7,8, Nachiappan Chidambaram⁸, Satish Nachaegari⁸, Mahesh Patel⁸, Martin M. Miner, MD⁹

¹Department of Urology, University of North Carolina, Chapel Hill, NC,²Baylor College of Medicine, Houston, TX, ³Johns Hopkins University School of Medicine, Baltimore, MD,⁴Harbor-UCLA Medical Center and Los Angeles Biomedical Research Institute, Torrance, CA, ⁵University Urology Associates, New York, NY, ⁶Alvarado Hospital, San Diego, CA, ⁷Saint Joseph’s University, Philadelphia, PA, ⁸Lipocine, Inc. Salt Lake City, UT, ⁹Brown University and the Miriam Hospital, Providence, RI

Introduction:  Sexual dysfunction (SD) has been associated with hypogonadism.¹ Testosterone (T) therapy is indicated for treating hypogonadism and related symptoms. However, topical or parenteral T formulations are associated with inadvertent T transference, poor compliance, and superphysiologic T levels in some patients. There is a need for T formulations that improve patient compliance, mitigate transference, and achieve more consistent serum T levels. LPCN 1021 is a novel oral T undecanoate formulation assessed in a Phase 3 (SOAR) trial that may avoid some of the undesirable attributes of non-oral T formulations.

Methods:  SOAR is a randomized, active–controlled, 2-arm, 12-month, open-label, multicenter, dose-titration trial that included 314 hypogonadal (T<300ng/dl on 2 separate days) men between 18 and 80 years old.  Participants were randomized to either LPCN 1021 (n=210) or T gel 1.62% (n=104).  Of the 314 hypogonadal men, 88 (28%) had SD at baseline. Subjects with baseline SD had poorer quality erections (p=0.011) and more difficulty maintaining erections (p=0.017) than hypogonadal subjects without SD. The LPCN 1021 dose could be titrated up (e.g. if T C_ave, _24h <300 mg/dL) or down (e.g. if T C_max was >1500 mg/dL) at Weeks 4 and 8 based on 24 h PK, if required. T gel 1.62% was titrated based on manufacturer’s instruction. Sexual function and mood changes were assessed by the Psychosexual Daily Questionnaire (PDQ) for 7 days preceding visits. Quality of life (QoL) was assessed by the SF-36 questionnaire at Weeks 1 and 52 (end of study).

Results:  Hypogonadal subjects with SD were significantly older (p=0.001), and had lower serum estradiol levels (p=0.043); baseline T levels were not significantly different. Sexual desire and activity, which were similar in both groups at baseline, improved to a similar extent in each group. In men with and without SD, LPCN 1021 significantly improved penile rigidity (p<0.001 and p=0.028, respectively) and ability to maintain an erection (p<0.001 and p=0.007, respectively). Non-significant differences were observed for the same with T gel 1.62%. In addition, LPCN 1021 significantly improved depressed mood (p=0.002), mental health (p=0.023) and mental component summary (p=0.008) in hypogonadal subjects with SD.

Conclusions: Twice daily administration of oral LPCN 1021 over 52 weeks improved several parameters of sexual function in hypogonadal men with SD prior to treatment.

¹Cunningham GR, et al. J Clin Endocrinol Metab. 2015 Mar;100(3):1146-55.