Lipella Pharmaceuticals surges on promising drug data in bladder disease trial

Lipella Pharmaceuticals

11/01/2023 13:30

** Drug developer Lipella Pharmaceuticals Inc's shares
 LIPO.O  double to $6.2 in premarket trading 
    ** Stock top pct. gainer across U.S. stock exchanges 
    ** Co reports promising data from mid-stage trial evaluating
the safety and efficacy of its drug candidate LP-10 in treating
hemorrhagic cystitis 
    ** Hemorrhagic cystitis is a rare diseases caused by
chemotherapy radiation, that damages the inner lining of the
bladder and causes inflammation 
    ** LIPO says the subjects tolerated LP-10 instillations and
completed the study with no product related serious adverse
events 
    ** The dose response noted decrease of red blood cells in
the urine, reduced bleeding in the inner lining of the bladder,
reduction in formation of ulcer sites and improved urinary
symptoms in patients - LIPO
    ** Co adds that the responder analysis noted complete
response in three subjects, partial response in seven subjects
and no response in three subjects 
    ** LIPO plans to communicate with the FDA on the study's
results and the regulatory pathway ahead for LP-10 
    ** LIPO shares have fallen 45.9% from its IPO price of
$5.75; stock listed last month
 (Reporting by Pratik Jain in Bengaluru)
 ((Pratik.Jain@thomsonreuters.com;))