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

Lipella Pharmaceuticals Inc. (NASDAQ:LIPO) was the recipient of a significant growth in short interest during the month of November. As of November 15th, there was short interest totalling 25,100 shares, a growth of 991.3% from the October 31st total of 2,300 shares. Currently, 3.2% of the shares of the stock are short sold. Based on an average daily volume of 164,100 shares, the short-interest ratio is currently 0.2 days.

Lipella Pharmaceuticals Stock Performance

Shares of LIPO traded up $0.15 during trading hours on Thursday, reaching $2.95. The stock had a trading volume of 184,359 shares, compared to its average volume of 166,690. The stock has a market capitalization of $3.57 million, a PE ratio of -0.69 and a beta of 0.31. Lipella Pharmaceuticals has a 12 month low of $2.21 and a 12 month high of $12.00. The company’s 50-day moving average is $3.18 and its two-hundred day moving average is $3.94.

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).