<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0306</schemaVersion>

    <documentType>4</documentType>

    <periodOfReport>2014-11-20</periodOfReport>

    <notSubjectToSection16>1</notSubjectToSection16>

    <issuer>
        <issuerCik>0001168197</issuerCik>
        <issuerName>LIPOSCIENCE INC</issuerName>
        <issuerTradingSymbol>LPDX</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001603880</rptOwnerCik>
            <rptOwnerName>CROMWELL WILLIAM C</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>C/O LIPOSCIENCE, INC.</rptOwnerStreet1>
            <rptOwnerStreet2>2500 SUMNER BLVD</rptOwnerStreet2>
            <rptOwnerCity>RALEIGH</rptOwnerCity>
            <rptOwnerState>NC</rptOwnerState>
            <rptOwnerZipCode>27616</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isOfficer>1</isOfficer>
            <officerTitle>Chief Medical Officer</officerTitle>
            <otherText></otherText>
        </reportingOwnerRelationship>
    </reportingOwner>

    <nonDerivativeTable>
        <nonDerivativeTransaction>
            <securityTitle>
                <value>Common Stock</value>
            </securityTitle>
            <transactionDate>
                <value>2014-11-20</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>D</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionTimeliness></transactionTimeliness>
            <transactionAmounts>
                <transactionShares>
                    <value>21456</value>
                    <footnoteId id="F1"/>
                </transactionShares>
                <transactionPricePerShare>
                    <value>5.25</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>D</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>0</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </nonDerivativeTransaction>
    </nonDerivativeTable>

    <footnotes>
        <footnote id="F1">Disposed of pursuant to the Merger Agreement and includes 20,000 shares of the Issuer's common stock underlying restricted stock unit awards.</footnote>
    </footnotes>

    <remarks>On November 20, 2014, the Issuer became a wholly-owned subsidiary of Laboratory Corporation of America Holdings pursuant to the merger effected in connection with the agreement and plan of merger, dated September 24, 2014, by and among Issuer, Laboratory Corporation of America Holdings and Bear Acquisition Corp (the &quot;Merger Agreement&quot;).</remarks>

    <ownerSignature>
        <signatureName>/s/ Kathryn F. Twiddy, attorney-in-fact</signatureName>
        <signatureDate>2014-11-24</signatureDate>
    </ownerSignature>
</ownershipDocument>
