Lipella Pharmaceuticals Inc. (NASDAQ:LIPO) Sees Significant Decrease in Short Interest

Lipella Pharmaceuticals Inc. (NASDAQ:LIPO) saw a significant decrease in short interest in the month of October. As of October 31st, there was short interest totalling 2,300 shares, a decrease of 98.7% from the October 15th total of 174,700 shares. Approximately 0.2% of the company’s shares are short sold. Based on an average daily volume of 161,000 shares, the short-interest ratio is presently 0.0 days.

Lipella Pharmaceuticals Stock Performance

Shares of LIPO opened at $2.64 on Thursday. The company’s 50-day simple moving average is $3.32 and its 200-day simple moving average is $4.17. Lipella Pharmaceuticals has a 1 year low of $2.24 and a 1 year high of $12.00. The stock has a market capitalization of $3.19 million, a PE ratio of -0.55 and a beta of 0.31.

Lipella Pharmaceuticals (NASDAQ:LIPO) last released its earnings results on Tuesday, August 13th. The company reported ($0.96) earnings per share (EPS) 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).