Lipella Pharmaceuticals Reports 2022 Earnings; Completes Initial Public Offering, Achieves Key Milestones

Clinical stage biotechnology company, Lipella Pharmaceuticals (Nasdaq: LIPO), has reported its 2022 financial results and provided a business update.

In March, Lipella announced the successful completion of its Phase 2A clinical trial evaluating the safety and efficacy of its drug candidate LP-10 for hemorrhagic cystitis. The study’s results will be presented as a late-breaking presentation at the American Urological Association (AUA) Annual Meeting in Chicago in April 2023.

Highlights

  • During the period, Lipella successfully completed its Initial Public Offering and attained NASDAQ Capital Market listing.
  • The company appointed Douglas Johnston as CFO in November 2022.
  • Lipella created an Oral Health Scientific Advisory Board to focus on the development of its product candidate, LP-310 for oral lichen planus.
  • The company ended the year with a cash balance in excess of $5 million. Lipella anticipates this will provide it with an operating runway into 2024.

About Lipella Pharmaceuticals

Lipella is a clinical-stage biotechnology company focused on developing new drugs by reformulating the active agents in existing generic drugs and optimizing these reformulations for new applications. Additionally, Lipella maintains a therapeutic focus on diseases with significant, unaddressed morbidity and mortality where no approved drug therapy currently exists. Lipella completed its initial public offering in December 2022. For more information, please visit www.lipella.com or LinkedIn.

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Lipella Pharmaceuticals Reports 2022 Earnings; Completes Initial Public Offering, Achieves Key Milestones

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