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PITTSBURGH – Lipella Pharmaceuticals Inc. (NASDAQ:LIPO), a clinical-stage pharmaceutical company with a current market capitalization of $13.1 million, has renewed its manufacturing collaboration with Cook MyoSite, Inc. According to InvestingPro data, the company maintains a strong financial position with more cash than debt and a healthy current ratio of 6.21. The agreement, announced today, is designed to support the Chemistry, Manufacturing, and Control (CMC) documentation for Lipella’s clinical products LP-10 and LP-310.
The continued partnership aims to uphold the high-quality manufacturing standards necessary as Lipella progresses its clinical pipeline toward potential commercialization. Dr. Jonathan Kaufman, CEO and Co-Founder of Lipella, expressed satisfaction with the renewal, citing Cook MyoSite’s proven track record in manufacturing. Ryan Pruchnic, Managing Vice President of Cook MyoSite and a member of Lipella’s Board of Directors, reaffirmed their commitment to maintaining safety, quality, and execution standards to support Lipella’s clinical advancements. Analysis from InvestingPro suggests the stock is currently trading below its Fair Value, with additional financial insights available to subscribers.
Cook MyoSite specializes in the development of technologies related to human skeletal muscle cells for treating various disorders. The company offers a range of services, including the procurement and processing of muscle cells, custom media formulations, and analytical testing and assay development.
Lipella Pharmaceuticals focuses on reformulating active agents in existing generic drugs for new applications, particularly targeting diseases with significant unmet needs where no approved drug therapies currently exist. While the company, which went public in 2022, reported revenue growth of 8.88% in the last twelve months, InvestingPro analysis shows it is still working toward profitability with an EBITDA of -$5.19 million. Get access to more detailed financial metrics and 7 additional ProTips with an InvestingPro subscription.
The press release also contained forward-looking statements regarding Lipella’s strategy, operations, financial position, and future prospects, including the clinical trials and potential regulatory approvals of their products. These statements are based on current expectations and are subject to risks and uncertainties that could cause actual results to differ.
This update is based on a press release statement from Lipella Pharmaceuticals Inc. and does not include any speculative or promotional content.
In other recent news, Lipella Pharmaceuticals has reported significant financial developments. The company announced in an SEC filing that it believes it has regained compliance with Nasdaq’s stockholders’ equity requirement. This follows a series of private placement offerings, including one that concluded on March 12, 2025, generating net proceeds of approximately $5.9 million. Another offering on March 17, 2025, involving warrants for Series B non-voting convertible preferred stock, raised gross proceeds of $9,000. Lipella’s efforts to raise capital have resulted in a reported stockholders’ equity of approximately $1.9 million, as per their Annual Report for the fiscal year ending December 31, 2024. Additionally, Lipella has amended its corporate charter to increase the number of shares available in its Series C Voting Convertible Preferred Stock from 1,050,000 to 1,260,000. The company has not disclosed the reasons for this increase, leaving potential implications for shareholders speculative. These developments come amidst Lipella’s ongoing efforts to secure financing and maintain Nasdaq compliance.
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