Short Interest in Lipella Pharmaceuticals Inc. (NASDAQ:LIPO) Declines By 45.1%

Lipella Pharmaceuticals Inc. (NASDAQ:LIPO) was the target of a significant drop in short interest during the month of September. As of September 15th, there was short interest totalling 120,500 shares, a drop of 45.1% from the August 31st total of 219,600 shares. Approximately 2.3% of the shares of the company are short sold. Based on an average trading volume of 3,510,000 shares, the short-interest ratio is currently 0.0 days.

Lipella Pharmaceuticals Trading Up 12.6 %

Shares of Lipella Pharmaceuticals stock traded up $0.06 during midday trading on Thursday, hitting $0.51. The company had a trading volume of 1,057,066 shares, compared to its average volume of 1,275,646. Lipella Pharmaceuticals has a 1-year low of $0.32 and a 1-year high of $2.71. The business’s 50 day simple moving average is $0.48 and its two-hundred day simple moving average is $0.60.

Lipella Pharmaceuticals (NASDAQ:LIPO) last posted its quarterly earnings results on Tuesday, August 13th. The company reported ($0.12) earnings per share for the quarter. Lipella Pharmaceuticals had a negative return on equity of 172.07% and a negative net margin of 817.16%. The business had revenue of $0.14 million for the quarter.

About Lipella Pharmaceuticals

Lipella Pharmaceuticals Inc, a biotechnology company, focuses on developing drugs by reformulating the active agents in existing generic drugs and optimizing these reformulations for various applications. The company develops LP-10, a formulation of tacrolimus that has completed Phase 2a clinical trial for patients with radiation-induced hemorrhagic cystitis; LP-310, a formulation of tacrolimus for the treatment of oral lichen planus; and LP-410, an oral liposomal formulation of tacrolimus for the treatment of oral graft-versus-host disease (GVHD).