Full Press Release Details
Pharmaceuticals Reports First Quarter 2023 Financial Results and Corporate Update
top line results from Phase 2a clinical trial for lead candidate LP-10
Health Scientific Advisory Board established to focus on development of LP-310 for oral lichen planus
presentation of Phase 2a study results at the American Urological Association Annual Meeting
collaboration agreement with Cook MyoSite in anticipation of Lipella's
forthcoming Investigational New Drug (IND) application
PA May 15, 2023 - Lipella Pharmaceuticals Inc. (Nasdaq: "LIPO") ("Lipella," "our, "us"
or the "Company"), a clinical-stage biotechnology company addressing serious diseases
with significant unmet need, today provides a corporate update and announces its first quarter 2023 financial results.
Jonathan Kaufman, CEO of Lipella, said, "Lipella has had a strong start to 2023 with the release of positive top line results from
our Phase 2a clinical trial evaluating the safety and efficacy of LP-10 as a treatment for hemorrhagic cystitis. The results have been
presented at prestigious meetings including the 2023 Biotech Showcase and as part of a late-breaking presentation at the Annual Meeting
of the American Urological Association. We expect to schedule a Type B meeting with the FDA regarding
this program in the coming months.
were also delighted to enter a manufacturing collaboration agreement with Cook MyoSite to facilitate Chemistry,
Manufacturing, and Control documentation for LP-10 in anticipation of Lipella's forthcoming IND application."
LIPELLA PHARMACEUTICALS INC.
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.
press release includes certain "forward-looking statements." All statements, other than statements of historical fact, included
in this press release regarding, among other things, our strategy, future operations, financial position, prospects, pipeline and opportunities,
sources of growth, successful implementation of our proprietary technology, plans and objectives are forward-looking statements. Forward-looking
statements can be identified by words such as "may," "will," "could," "continue," "would,"
"should," "potential," "target," "goal," "anticipates," "intends,"
"plans," "seeks," "believes," "estimates," "predicts," "expects,"
"projects" and similar references to future periods. Forward-looking statements are based on our current expectations and
assumptions regarding future events and financial trends that we believe may affect among other things, our financial condition, results
of operations, business strategy, short- and long-term business operations and objectives, and financial needs. Because forward-looking
statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to
predict. Our actual results may differ materially from those contemplated by the forward-looking statements. We caution you, therefore,
against relying on any of these forward-looking statements. They are neither statements of historical fact nor guarantees or assurances
of future performance. There are risks, uncertainties and other factors, both known and unknown, that could cause actual results to differ
materially from those in the forward-looking statements which include, but are not limited to, regional, national or global political,
economic, business, competitive, market and regulatory conditions, and other factors. Any forward-looking statement made by us is based
upon the reasonable judgment of our management at the time such statement is made and speaks only as of the date on which it is made.
Factors or events that could cause our actual results to differ may emerge from time to time, and it is not possible for us to predict
all of them. We undertake no obligation to update any forward-looking statement, whether as a result of new information, future developments
or otherwise, except as may be required by applicable law. Nothing contained herein is, or shall be relied upon as, a promise or representation
as to the past or future. In addition, the information contained in this press release is as of the date hereof, and the Company has
no obligation to update such information, including in the event that such information becomes inaccurate. You should not construe the
contents of this press release as legal, tax and financial advisors as to legal and related matters concerning the matters described
Jonathan Kaufman, CEO