LIPELLA PHARMACEUTICALS INC. (LIPO)
Lipella Pharmaceuticals Inc. is a clinical-stage biopharmaceutical firm specializing in the creation of novel therapies. The company achieves this by repurposing and optimizing the active ingredients found in established generic drugs, tailoring these reformulations for diverse medical applications. Its lead candidate, LP-10, a tacrolimus formulation, is presently in Phase IIa clinical studies, targeting radiation-induced hemorrhagic cystitis. Additionally, LP-310, another tacrolimus-derived compound, is under development for the management of oral lichen planus. Founded in 2005, the company maintains its headquarters in Pittsburgh, Pennsylvania.
Sector: Pharmaceutical Preparations
Industry: Biotechnology
Lipella Pharmaceuticals Inc.
OTC:LIPOHealthcare · Biotechnology
$0.0005
Mkt Cap$2K
Float3.91M
O/S4.62M
Inst Own-
SI<0.1%
Dilution
Delisting Issues Timeline
Financials Summary
Revenue$536K
Net Income-$5.02M
Total Assets$2.67M
Free Cash Flow-$3.95M
Debt & Equity
Debt 2%
Equity 98%
Preferred 0%
Total Debt$48K
Total Equity$1.92M
Preferred Stock$33
Shares Outstanding
Short Interest
Split History1 split · 1 reverse
2-year cumulative
1:8
Nasdaq bars a compliance period at 1:250
- 1:8Reverse splitNov 8, 20248 shares → 1
Balance Sheet Details
Assets$2.67M
Liabilities$754K
Accounts Receivable$85K
Accounts Payable$388K
Inventory$0
PP&E (Net)$57K
Goodwill$0
Intangible Assets$0
Income Statement
| Period | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 |
|---|---|---|---|---|---|---|
| Currency | USD | USD | USD | USD | USD | USD |
| Period Ending | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 |
| Revenue | $536K | $450K | $184K | $259K | $962K | $695K |
| YoY Growth | 19.3% | 144.2% | -29.0% | -73.0% | 38.4% | - |
| Cost of Revenue | $3.61M | $3.04M | $2.55M | $1.46M | $976K | $683K |
| Gross Profit | -$3.08M | -$2.59M | -$2.36M | -$1.2M | -$14K | $12K |
| Gross Margin | -573.7% | -575.9% | -1283.4% | -461.7% | -1.5% | 1.7% |
| Research and Development | $3.61M | $3.04M | $2.55M | $1.46M | $976K | $683K |
| Selling, General, and Administrative | $2M | $2.16M | $226K | $718K | $43K | $66K |
| Other | -$3.61M | -$3.04M | -$2.55M | -$1.46M | -$976K | -$683K |
| Total Operating Expenses | $2M | $2.16M | $226K | $718K | $43K | $66K |
| Operating Income (EBIT) | -$5.08M | -$4.75M | -$2.59M | -$1.92M | -$57K | -$54K |
| Operating Margin | -947.2% | -1055.6% | -1406.3% | -738.7% | -5.9% | -7.7% |
| Interest Expense | $0 | $11K | $10K | $7K | $8K | $8K |
| Interest Income | $64K | $138K | $2K | $104 | $3K | $334 |
| Other Income (Expense) | $64K | $127K | -$8K | $50K | -$5K | -$8K |
| Income Before Tax (EBT) | -$5.02M | -$4.62M | -$2.6M | -$1.87M | -$62K | -$62K |
| Income Tax Expense | $0 | $0 | $0 | $0 | $0 | $0 |
| Net Income | -$5.02M | -$4.62M | -$2.6M | -$1.87M | -$62K | -$62K |
| Net Income Margin | -935.2% | -1027.3% | -1410.6% | -719.3% | -6.4% | -8.9% |
| Supplementary Data | ||||||
| EPS | -4.79 | -6.16 | -5.12 | -4.38 | -0.23 | -0.24 |
| Diluted EPS | -4.79 | -6.16 | -5.12 | -4.38 | -0.23 | -0.24 |
| Weighted Average OS | 1.05M | 749,832 | 507,361 | 426,006 | 266,400 | 260,000 |
| EBITDA | -$5.01M | -$4.61M | -$2.59M | -$1.86M | -$54K | $0 |
| EBITDA Margin | -934.7% | -1024.5% | -1405.4% | -716.7% | -5.6% | - |
Balance Sheet
| Period | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 |
|---|---|---|---|---|---|---|
| Currency | USD | USD | USD | USD | USD | USD |
| Period Ending | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 |
| Assets | ||||||
| Current Assets | ||||||
| Cash and Cash Equivalents | $2.18M | $3.29M | $5.12M | $1.41M | $607K | $26K |
| Short-Term Investments | $0 | $0 | $0 | $301K | $0 | $0 |
| Cash and Short-Term Investments | $2.18M | $3.29M | $5.12M | $1.71M | $607K | $26K |
| Accounts Receivable | $85K | $32K | $114K | $0 | $69K | $84K |
| Inventory | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Current Assets | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Current Assets | $2.62M | $3.43M | $5.8M | $1.81M | $699K | $119K |
| Long-Term Assets | ||||||
| Property, Plant & Equipment Net | $57K | $148K | $151K | $205K | $256K | $0 |
| Goodwill | $0 | $0 | $0 | $0 | $0 | $0 |
| Intangible Assets | $0 | $0 | $0 | $0 | $0 | $0 |
| Long-Term Investments | $0 | $0 | $0 | $0 | $0 | $0 |
| Deferred Tax Assets | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Long-Term Assets | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Long-Term Assets | $57K | $148K | $151K | $205K | $256K | $0 |
| Other Assets | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Assets | $2.67M | $3.58M | $5.95M | $2.01M | $955K | $119K |
| Liabilities | ||||||
| Current Liabilities | ||||||
| Accounts Payable | $388K | $138K | $384K | $47K | $25K | $49K |
| Short-Term Debt | $0 | $0 | $275K | $25K | $82K | $50K |
| Current Income Tax Payable | $0 | $0 | $0 | $0 | $0 | $0 |
| Current Unearned Revenue | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Current Liabilities | $0 | $0 | $0 | $0 | $0 | $40K |
| Total Current Liabilities | $754K | $385K | $1.18M | $341K | $208K | $166K |
| Long-Term Liabilities | ||||||
| Long-Term Debt | $0 | $0 | $0 | $50K | $50K | $50K |
| Long-Term Unearned Revenue | $0 | $0 | $0 | $0 | $0 | $0 |
| Long-Term Deferred Tax Liabilities | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Long-Term Liabilities | $0 | $0 | $0 | $30K | $26K | $22K |
| Total Long-Term Liabilities | $0 | $47K | $96K | $249K | $284K | $72K |
| Other Liabilities | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Liabilities | $754K | $433K | $1.27M | $589K | $492K | $237K |
| Stockholders' Equity | ||||||
| Preferred Stock | $33 | $0 | $0 | $159 | $159 | $159 |
| Common Stock | $121 | $75 | $574 | $387 | $574 | $520 |
| Retained Earnings | -$15.34M | -$10.32M | -$5.7M | -$3.11M | -$1.24M | $0 |
| Comprehensive Income & Other | $0 | $0 | $0 | $0 | $0 | -$1.18M |
| Other Stockholders' Equity | $17.26M | $13.47M | $10.38M | $4.53M | $1.7M | -$119K |
| Total Equity | $1.92M | $3.14M | $4.68M | $1.42M | $463K | -$118K |
| Minority Interest | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Liabilities and Equity | $2.67M | $3.58M | $5.95M | $2.01M | $955K | $119K |
| Supplementary Data | ||||||
| Total Debt | $48K | $137K | $430K | $283K | $389K | $100K |
| Net Debt | -$2.14M | -$3.16M | -$4.69M | -$1.13M | -$218K | $74K |
Cash Flow Statement
| Period | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 |
|---|---|---|---|---|---|---|
| Currency | USD | USD | USD | USD | USD | USD |
| Period Ending | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 |
| Operating Activities | ||||||
| Net Income | -$5.02M | -$4.62M | -$2.6M | -$1.87M | -$62K | -$62K |
| Depreciation & Amortization | $3K | $2K | $0 | $0 | $0 | $54K |
| Deferred Income Tax | $0 | $0 | $0 | $0 | $0 | $0 |
| Stock-Based Compensation | $749K | $1.36M | $747K | $729K | $58K | $0 |
| Changes in Working Capital: | ||||||
| Accounts Receivable | $0 | $0 | -$114K | $69K | $15K | -$44K |
| Inventory | $0 | $0 | $114K | $0 | -$15K | $0 |
| Accounts Payable | $250K | -$246K | $337K | $22K | -$25K | $33K |
| Other Working Capital | -$137K | $237K | -$328K | $106K | -$7K | $25K |
| Total Working Capital Change | $113K | -$9K | $10K | $198K | -$32K | $14K |
| Other Non-Cash Items | $200K | $121K | $10K | -$50K | $8K | -$45K |
| Net Cash from Operating | -$3.95M | -$3.15M | -$1.83M | -$989K | -$29K | -$39K |
| Investing Activities | ||||||
| Capital Expenditures | $0 | -$14K | $0 | $0 | $0 | $0 |
| Acquisitions | $0 | $0 | $0 | $0 | $0 | $0 |
| Purchases of Investments | $0 | $0 | $300.55M | -$301K | $0 | $0 |
| Sales of Investments | $0 | $0 | $301K | $0 | $0 | $0 |
| Other Investing Activities | $0 | $0 | -$300.55M | $0 | $0 | $0 |
| Net Cash from Investing | $0 | -$14K | $301K | -$301K | $0 | $0 |
| Financing Activities | ||||||
| Debt Repaid | - | $250K | -$275K | - | - | -$25K |
| Common Stock Issuance | $0 | $0 | $4.96M | $2.1M | $552K | $0 |
| Common Stock Repurchases | $0 | $0 | $0 | $0 | $0 | $0 |
| Dividends Paid | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Financing Activities | $0 | $0 | $0 | $0 | $0 | $0 |
| Net Cash from Financing | $2.84M | $1.34M | $5.24M | $2.1M | $609K | $25K |
| Forex Effect | $0 | $0 | $0 | $0 | $0 | $0 |
| Net Change in Cash | -$1.11M | -$1.83M | $3.71M | $807K | $581K | -$14K |
| Supplementary Data | ||||||
| Operating Cash Flow | -$3.95M | -$3.15M | -$1.83M | -$989K | -$29K | -$39K |
| Capital Expenditure | -$3 | -$14K | $0 | $0 | $0 | $0 |
| Free Cash Flow | -$3.95M | -$3.16M | -$1.83M | -$989K | -$29K | -$39K |
| Cash at Beginning | $3.29M | $5.12M | $1.41M | $607K | $26K | $40K |
| Cash at End | $2.18M | $3.29M | $5.12M | $1.41M | $607K | $26K |