Lipella Pharmaceuticals Inc. (NASDAQ: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.
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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
