What's Going On With Lipella Pharmaceuticals Stock?

Lipella Pharmaceuticals Inc. LIPO shares are blasting higher Friday on heavy trading volume. Here's a look at what's going on:

What To Know:

Shares of LIPO are moving higher on heavy trading volume Friday with more than 28.6 million shares already traded in the session.

Remarkably, the stock's 100-day average is less than 7 thousand shares traded, and its float is 4.382 million shares, according to data from Benzinga Pro. 

On Sept. 21, Lipella published the results of a Phase 2a clinical study of its lead product candidate, LP-10. The article highlighted the clinically meaningful efficacy and safety profile of Lipella's as a potential treatment for hemorrhagic cystitis.

Lipella Pharmaceuticals is a clinical-stage biotechnology company focused on developing new drugs by reformulating the active agents in existing generic drugs and optimizing them for new applications. 

Related News: What's Going On With T2 Biosystems Stock? 

LIPO Price Action: According to Benzinga Pro, Lipella Pharmaceuticals shares are up 54% at $2.48 at the time of publication.

Image: Jan from Pixabay