Lipella Pharmaceuticals Inc.

Lipella Pharmaceuticals Inc. (LIPO) priced its initial public offering on Dec 21, 2022 at $5.75 per share, within its $5.75–$6.25 range, raising $7M, and listed on Nasdaq Capital Market. At the IPO price its market capitalization was about $33M. Spartan Capital was lead-left underwriter. Sullivan & Worcester advised the company and Hunter Taubman Fischer & Li advised the underwriters.

Lipella Pharmaceuticals Inc. is a clinical-stage biotechnology company developing new drugs by reformulating active agents in existing generic drugs for new applications. It focuses on diseases with significant unaddressed morbidity and mortality where no approved drug therapy currently exists.

Status

IPO

Ticker

LIPO

Exchange

Nasdaq Capital Market

Priced

Dec 21, 2022

IPO price

$5.75

Price range

$5.75–$6.25

Raised

$7M

Market cap at IPO price

$33M

First filed

Jul 29, 2022

Underwriters

Spartan Capital

Company counsel

Sullivan & Worcester

Underwriters' counsel

Hunter Taubman Fischer & Li

Sector

Biotech & pharma

Country / state

PA

Market cap at IPO price = shares outstanding after the offering (all classes, before the over-allotment option) × the IPO price, from the final prospectus.