Why Lipella Pharmaceuticals Stock Is Soaring Today

Lipella Pharmaceuticals Inc LIPO shares are trading higher Wednesday after the company announced top line results of its Phase 2a clinical trial of its drug candidate LP-10.

What To Know: Lipella completed the Phase 2a clinical trial evaluating the safety and efficacy of LP-10 for hemorrhagic cystitis, a rare but highly morbid disease for which there are currently no FDA approved treatments.

All subjects tolerated LP-10 instillations and completed the study without report of product related serious adverse events. LP-10 pharmacokinetic analysis demonstrated short duration of systemic uptake. Responder analysis noted complete response in three subjects, partial response in seven subjects and no response in three subjects.

"The successful completion of the Phase 2a clinical trial of LP-10 is a critical milestone in Lipella's development. We're gratified with the results and look forward to our next step, which will be to communicate with the FDA on the study's results and the pathway forward to seeking regulatory approval for LP-10," said Jonathan Kaufman, CEO of Lipella.

Kaufman is set to present these results at Biotech Showcase 2023 Wednesday evening at 5 p.m. ET.

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.

See Also: Best Biotech Stocks Right Now

LIPO Price Action: Lipella shares are up 65.4% at $5.15 at time of publication, according to Benzinga Pro.

Photo: Konstantin Kolosov from Pixabay.