Lipella Pharmaceuticals Inc. (NASDAQ: LIPO) is experiencing a notable surge in market performance today, exhibiting an impressive 58.61% increase in its stock price, currently standing at $2.46 as per the latest assessment. Furthermore, Lipella’s stock shares are demonstrating substantial upward movement during the course of this Friday’s trading session.
Notably, over 33 million shares of the company’s stock have exchanged hands as of the time of composing this report. Lipella typically witnesses an average daily trading volume of approximately 7,000 shares.
In an important development, Lipella (LIPO) has made a significant announcement today regarding its receipt of approval from the U.S. Food and Drug Administration (FDA) for an Investigational New Drug (IND) application. The FDA’s green light pertains to an IND designed for a multi-center, phase-2a clinical trial with dose-escalation protocols aimed at evaluating the safety and efficacy of LP-310.
This novel drug has been examined within the patient population afflicted by symptomatic oral lichen planus (OLP), a condition characterized by high morbidity and the lamentable absence of effective treatment options. It is worth noting that in March 2023, Lipella assembled a distinguished Scientific Advisory Board in Oral Health, comprising a group of eminent experts in the field of oral medicine.
This advisory board was established with the specific purpose of concentrating efforts on the development of LP-310. The team played an instrumental role in formulating the clinical strategy and will continue to be actively engaged in the identification and recruitment of top-tier clinical sites. OLP, an enduring malady, is an inflammatory autoimmune oral mucosal disease primarily mediated by T-cells.
It inflicts severe pain and carries the risk of malignant transformation, with associated complications including infections, scarring, stress, and depression. OLP afflicts between one to four percent of the global population, and regrettably, most currently available therapies only offer palliative relief, falling short of effecting a cure.
LIPO is enthusiastic about the prospect of developing a truly efficacious treatment for OLP. The approval by the FDA serves as a tangible demonstration of LIPO’s capacity to significantly enhance its value proposition by incorporating a phase-2, clinical-stage asset into its burgeoning pipeline.
