Lipella Pharmaceuticals Inc. (NASDAQ:LIPO) Short Interest Down 98.7% in October

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

Lipella Pharmaceuticals Price Performance

Shares of NASDAQ LIPO traded down $0.02 during trading hours on Thursday, hitting $2.62. 7,271 shares of the company’s stock were exchanged, compared to its average volume of 168,878. The company’s 50-day moving average price is $3.32 and its 200-day moving average price 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 $3.17 million, a price-to-earnings ratio of -0.55 and a beta of 0.31.

Lipella Pharmaceuticals (NASDAQ:LIPO) last issued its quarterly earnings results on Tuesday, August 13th. The company reported ($0.96) 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 during the quarter.

Lipella Pharmaceuticals Company Profile

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).