Short Interest in Lipella Pharmaceuticals Inc. (NASDAQ:LIPO) Decreases By 98.7%

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

Lipella Pharmaceuticals Trading Down 8.1 %

Shares of NASDAQ LIPO traded down $0.26 during midday trading on Tuesday, reaching $2.95. 121,037 shares of the stock were exchanged, compared to its average volume of 169,884. The stock has a 50 day moving average price of $0.53 and a 200-day moving average price of $0.57. Lipella Pharmaceuticals has a 52-week low of $2.24 and a 52-week high of $12.00. The company has a market capitalization of $3.57 million, a P/E ratio of -0.60 and a beta of 0.31.

Lipella Pharmaceuticals (NASDAQ:LIPO) last posted its earnings results on Tuesday, August 13th. The company reported ($0.96) EPS for the quarter. The firm had revenue of $0.14 million for the quarter. Lipella Pharmaceuticals had a negative return on equity of 172.07% and a negative net margin of 817.16%.

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).