Lipella Pharmaceuticals (NASDAQ: LIPO) saw its stock more than double during intraday trading following the Phase 2a trial initiation for LP-310 in treating Oral Lichen Planus.
Lipella Pharmaceuticals has announced that it has started enrolling patients in a Phase 2a clinical trial for its experimental drug LP-310, which aims to treat Oral Lichen Planus (OLP).
OLP is a chronic inflammatory condition that affects over 6 million Americans, causing painful mouth sores and inflammation. Currently, there are no FDA-approved treatments for this condition.
Lipella said the Phase 2a trial is a multi-center, dose-ranging study of LP-310, the company’s proprietary liposomal-tacrolimus oral rinse formulation of its lead candidate, LP-10, for hemorrhagic cystitis. The trial has enrolled its first patients at multiple research sites nationwide and continues to screen additional subjects with symptomatic Oral Lichen Planus.
Dr. Jonathan Kaufman, CEO of Lipella Pharmaceuticals, expressed his satisfaction with the progress, stating,
“We are very pleased with the rapid pace of site activation, and the enrollment of our initial patients marks a pivotal milestone for the company and the patient community suffering from this debilitating condition. This achievement reinforces our mission to redefine treatment paradigms for Oral Lichen Planus.”
LP-310 aims to target the root causes of OLP, offering a more effective alternative to current palliative treatments. It delivers a local concentration in the oral cavity, aiming to minimize systemic toxicity.
The company forecasts the trial to conclude by mid-2025 and expects to have top-line data by the end of 2024.
Lipella (NASDAQ: LIPO) Stock Reaction
LIPO stock soared 122.52% on Monday, closing at $0.8992, marking a 101.89% increase for the week. The trading volume was 195,020,800 shares, significantly higher than the average daily volume of 3.19 million.
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