LIPOCINE INC NEW

CUSIP: 53630X104 Class: CMN

KINGDON CAPITAL MANAGEMENT, L.L.C.'s Holding History (CIK: 0001000097)

Note: Option positions (PUT/CALL) are excluded.

Q1 2016
Shares 58,830 Value ($000) $597 Avg Close — Range —
Q4 2015
Shares 243,830 Value ($000) $3,153 Avg Close — Range —
Q3 2015
Shares 295,000 Value ($000) $3,490 Avg Close — Range —
Q2 2015
Shares 300,000 Value ($000) $2,574 Avg Close — Range —