LIPO - Biotech Rips On Topline Analysis
2025-02-11 12:10:00 ET
A biotech company is turning heads so far during Tuesday’s session after it shared topline analysis of its Phase 2a dose-ranging trial of LP-310, a liposomal-tacrolimus oral rinse formulation of LP-10 being developed to treat oral lichen planus (OLP), according to a press release.
Traders rushed to scoop up shares of Lipella Pharmaceuticals Inc. (Nasdaq:LIPO) at the open, pushing this micro cap up to $4.69/share (+5377%) at the early session high. This move was a strong confirmation of the recent breakout from its multi-month downtrend.
Lipella Pharmaceuticals Inc., a clinical-stage biotechnology company, focuses on developing drugs by reformulating the active agents in existing generic drugs and optimizing these reformulations for various applications. It is developing LP-10, a formulation of tacrolimus that is in Phase IIa clinical trial for patients with radiation-induced hemorrhagic cystitis; and LP-310, a formulation of tacrolimus for the treatment of oral lichen planus. Lipella Pharmaceuticals Inc. was incorporated in 2005 and is based in Pittsburgh, Pennsylvania.
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