Lipella Pharmaceuticals (NASDAQ: LIPO) surged in morning trading on Wednesday after the clinical-stage biotechnology company announced positive topline results for its drug candidate LP-10 for Hemorrhagic Cystitis.
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Hemorrhagic Cystitis (HC) is an inflammation of the bladder lining and results in this lining beginning to bleed. There are currently no FDA-approved treatments for HC.
The company evaluated LP-10 in Phase 2a clinical trial which enrolled 13 subjects with moderate to severe refractory hemorrhagic cystitis. This trial indicated that “all subjects tolerated LP-10 instillations and completed the study without report of product related serious adverse events.”
LIPO stock has fallen more than 30% in the past year.