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

Lipella Pharmaceuticals Inc. (NASDAQ:LIPO) saw a large 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 company’s stock are short sold. Based on an average daily trading volume, of 164,100 shares, the short-interest ratio is currently 0.2 days.

Lipella Pharmaceuticals Stock Performance

Lipella Pharmaceuticals stock traded down $0.07 during mid-day trading on Wednesday, hitting $2.73. The company had a trading volume of 30,794 shares, compared to its average volume of 166,022. Lipella Pharmaceuticals has a 1 year low of $2.21 and a 1 year high of $12.00. The business has a fifty day moving average of $3.19 and a 200 day moving average of $3.97.

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).