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

Lipella Pharmaceuticals Inc. (NASDAQ:LIPO) was the target of a significant increase in short interest during the month of December. As of December 15th, there was short interest totalling 50,800 shares, an increase of 215.5% from the November 30th total of 16,100 shares. Based on an average daily volume of 200,500 shares, the days-to-cover ratio is currently 0.3 days. Currently, 6.0% of the shares of the stock are sold short.

Lipella Pharmaceuticals Price Performance

LIPO stock traded down $0.17 during midday trading on Friday, reaching $3.15. The company had a trading volume of 161,839 shares, compared to its average volume of 166,975. The firm has a 50-day moving average price of $2.93 and a 200-day moving average price of $3.57. The company has a market capitalization of $3.81 million, a P/E ratio of -0.74 and a beta of 0.38. Lipella Pharmaceuticals has a 1 year low of $2.21 and a 1 year high of $12.00.

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).