LIPELLA PHARMACEUTICALS INC.
LIPO evidence brief
What we can confirm
- BioSniper Score:
- 7.4 / 10
- Market Cap:
- $2K
- Lead Asset:
- lp-10 (Phase 2)
What it means
What to watch
Prepared research question
What matters most for LIPO—catalysts, financial risk and supporting evidence?
Traceable citations · Unknowns marked
BioSniper AI · LIPO
Lipella Pharmaceuticals Inc. is a clinical-stage biotechnology company developing liposomal drug formulations for mucosal diseases, with a lead candidate LP-10/LP-310 in Phase 2 for oral lichen planus and an early-stage candidate LP-50 for bladder cancer.
Key risk: Limited cash runway
BioSniper Score
Based on 3 of 6 signals
Limited data coverage
Market Cap
$2K
Cash Runway
—
Lead Asset
lp-10 (Phase 2)
Next Catalyst
—
Financial data as of Sep 30, 2025.
Tracking 4 pipeline candidates · 1 clinical trial for LIPELLA PHARMACEUTICALS INC..
Lipella Pharmaceuticals Inc. is a clinical-stage biotechnology company developing liposomal drug formulations for mucosal diseases, with a lead candidate LP-10/LP-310 in Phase 2 for oral lichen planus and an early-stage candidate LP-50 for bladder cancer.
- Lead candidate LP-10 (liposomal tacrolimus oral rinse) completed Phase 2a in oral lichen planus with statistically significant improvements across all efficacy endpoints at week 4 [catalyst].
- Cash and equivalents of $1.9M as of 2025-09-30, with net income of -$1.3M and shareholders' equity of $1.5M [sec].
- LP-50 is in Phase 2 for non-muscle invasive bladder cancer, using a PD-1 checkpoint inhibition mechanism delivered via a metastable liposome platform [pipeline].
- The company has re-signed a manufacturing collaboration agreement with Cook MyoSite to support late-stage development of LP-310 [news · 2025-06-04].
- All 27 patients in the LP-10 Phase 2a study completed treatment with no serious adverse events [news · 2025-09-18].
What works
- Phase 2a data for LP-10/LP-310 showed statistically significant and clinically meaningful improvements across all efficacy endpoints with a favorable safety profile (no serious adverse events) [catalyst][news · 2025-09-18].
- The company has a proprietary metastable liposome drug delivery platform that may enable targeted mucosal delivery for multiple indications [pipeline].
- LP-10/LP-310 targets oral lichen planus, a condition with no currently approved treatments, representing a potential first-in-class therapy [news · 2025-06-04].
What to weigh
- Cash position is limited at $1.9M as of 2025-09-30, which may constrain operations and clinical development without additional financing [sec].
- The company reported a net loss of $1.3M for the period ending 2025-09-30, indicating ongoing cash burn [sec].
- LP-50 for bladder cancer faces a highly competitive landscape with 97 competitors, including Phase 3 programs from Janssen and CG Oncology [pipeline].
- The company is still in Phase 2 for its lead program, with no approved products or revenue from product sales.
From the filings
Quoted directly from source documents.
Phase 2a efficacy results for LP-10 in oral lichen planus
“All efficacy endpoints showed statistically significant and clinically meaningful improvements at week 4: mean and standard deviation (SD) values for IGA decreased from 3.5 ± 0.51 to 1.8 ± 1.37 (p < 0.0001), pain NRS from 6.8 ± 1.90 to 2.3 ± 2.53 (p < 0.0001), sensitivity NRS from 7.2 ± 1.71 to 2.9 ± 2.29, REU from 26.5 ± 10.4 to 13.2 ± 8.15 (p < 0.0001).”
Catalysts · January 31, 2026
No serious adverse events in Phase 2a study
“All 27 patients completed treatment with no serious adverse events, underscoring a favorable safety profile”
News · September 18, 2025
Manufacturing collaboration with Cook MyoSite
“Lipella Pharmaceuticals Re-signs Manufacturing Collaboration Agreement with Cook MyoSite to Support LP-310 Clinical Development”
News · June 4, 2025
Catalyst timeline
- 2024-07-01 · Phase 2 start for LP-10 in oral lichen planus — A multicenter, dose-ranging trial evaluating safety, tolerability, and efficacy of LP-10 in symptomatic oral lichen planus.
- 2026-01-31 · Trial readout for LP-10 Phase 2 — Reported statistically significant and clinically meaningful improvements across all efficacy endpoints at week 4.
Risks & what to watch (3)›
Key risks
- Limited cash runway — Cash of $1.9M as of 2025-09-30 may be insufficient to complete Phase 2b without additional financing [sec].
- Competitive bladder cancer landscape — LP-50 faces 97 competitors, including Phase 3 programs from Janssen and CG Oncology [pipeline].
- No approved products or revenue — Company is pre-revenue with no approved products, relying on external funding for operations [sec].
What to watch
- Initiation and results of the planned pivotal Phase 2b study for LP-10/LP-310 in oral lichen planus [news · 2025-09-18].
- Regulatory engagement and IND submission for Phase 2b of LP-310 [news · 2025-04-22].
- Progress of LP-50 in Phase 2 for non-muscle invasive bladder cancer and competitive developments [pipeline].
- Cash position and any new financing or partnership announcements to extend runway [sec].
Sources: Catalysts · Competitor trials · News · Pipeline · Generated October 6, 2026 · How we verify sources →
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Evidence & data
Score breakdownBased on 3 of 6 signals · derived from public data
Cash runway data unavailable
D/E 0.58 · 0% dilution
Lead: Phase 2
4 candidates
No upcoming catalysts tracked
No insider transactions in the last 180 days
Pipeline
Regulatory
Financials
Short Interest
as of Apr 30, 2026- % of float
- 2.4%
- Days to cover
- 3.3
- Shares short
- 100,093
- Daily short volume
- -
Short percent of float and days-to-cover reflect reported short positioning. Daily short volume is the exchange-reported short share of a single day's trading volume and is noisier. See the most-shorted biotech ranking →
LIPO short interestGovernance
Frequently asked questions
What is the AI investment thesis for LIPELLA PHARMACEUTICALS INC.?
Lipella Pharmaceuticals Inc. is a clinical-stage biotechnology company developing liposomal drug formulations for mucosal diseases, with a lead candidate LP-10/LP-310 in Phase 2 for oral lichen planus and an early-stage candidate LP-50 for bladder cancer.
What is LIPELLA PHARMACEUTICALS INC.'s lead drug candidate?
LIPELLA PHARMACEUTICALS INC.'s most advanced tracked candidate is lp-10 (Phase 2) for Oral Lichen Planus.
Who is the CEO of LIPELLA PHARMACEUTICALS INC.?
Dr. Jonathan Kaufman M.B.A., Ph.D. is the chief executive officer of LIPELLA PHARMACEUTICALS INC. (LIPO).
Where is LIPELLA PHARMACEUTICALS INC. headquartered?
LIPELLA PHARMACEUTICALS INC. (LIPO) is headquartered in Pittsburgh, PA, United States.
What therapeutic areas does LIPELLA PHARMACEUTICALS INC. focus on?
LIPELLA PHARMACEUTICALS INC. develops therapies across Oncology.
The AI overview and BioSniper Score are neutral, data-derived signals built from public SEC filings, ClinicalTrials.gov and FDA records — not investment advice.