New York, July 29, 2024 - PRISM MarketView - The clinical stage biotechnology company who is addressing serious diseases with significant unmet need, Lipella Pharmaceuticals (LIPO) has enrolled its first patient in its multi-center Phase 2a clinical trial. The company’s stock has risen over 200% today in premarket trading on the announcement. This trial will be evaluating Lipella’s oral rinse LP-310 which treats Oral Lichen Planus (OLP), a chronic inflammatory condition affecting over 6M in the US with no FDA-approved treatments.
Considered to be de-risked assets, the LP-310 is an oral rinse formulation of the company’s lead candidate for LP-10 for hemorrhagic cystitis. LP-310 is designed to address the underlying causes of OLP, offering a promising alternative to current palliative treatments and delivering local concentration in the oral cavity, aiming to minimize systemic toxicity. The trial is anticipated to conclude by mid-2025, with top-line data expected year-end 2024.
“We are very pleased with the rapid pace of site activation, and the enrollment of our initial patients marks a pivotal milestone for both the company and the patient community suffering from this debilitating condition. This achievement reinforces our mission to redefine treatment paradigms for Oral Lichen Planus. With LP-310’s innovative approach to targeting disease mechanisms, we are excited about the potential to deliver a transformative therapy, alleviating symptoms and improving patient outcomes significantly.”
Dr. Jonathan Kaufman, CEO of Lipella Pharmaceuticals
News regarding the trial is being shared on Facebook OLP support groups, and patients are reaching out with questions.
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.
About PRISM MarketView:
Established in 2020, PRISM MarketView is dedicated to the monitoring and analysis of small cap stocks in burgeoning sectors. We deliver up-to-the-minute financial market news, provide comprehensive investor tools and foster a dynamic investor community. Central to our offerings are proprietary indexes that observe emerging sectors, including biotech, clean energy, next-generation tech, medical devices and beyond. Visit us at prismmarketview.com and follow us on Twitter.
Disclaimer:
PRISM MarketView is not a registered or licensed broker-dealer or investment adviser and does not offer investment advice. The information provided in this communication is not intended to constitute an offer to sell, a solicitation of an offer to buy, or a recommendation for any security.
Contact:
Prism MarketView | Stock Market News & Investment Opportunities