--- title: "Lipella Pharmaceuticals CEO says company will seek relisting" url: "https://aibio.space/news/lipella-pharmaceuticals-ceo-says-company-will-seek-relisting-after/" publisher: "aibio.space (Biotech Investor Relations News)" date: "2025-06-25" section: "Listings" tickers: "OTC:LIPO" source: "https://www.sec.gov/Archives/edgar/data/1347242/000175392625001003/g084855_ex99-1.htm" summary: "Lipella's common stock was quoted on the OTC Pink Market under LIPO as of June 19, 2025. Nasdaq objected to securities paid to a placement agent and adviso" --- By the aibio.space news desk. Sources - [Lipella Pharmaceuticals Inc. 8-K (2025-06-25)](https://www.sec.gov/Archives/edgar/data/1347242/000175392625001003/g084855_ex99-1.htm) [LIPO](https://aibio.space/companies/lipella-pharmaceuticals/) 2025-06-25 # Lipella Pharmaceuticals CEO says company will seek relisting after Nasdaq delisting Tickers [LIPO](https://aibio.space/companies/lipella-pharmaceuticals/) Lipella's common stock was quoted on the OTC Pink Market under LIPO as of June 19, 2025. Nasdaq objected to securities paid to a placement agent and advisor. ## Key facts - **Company**: Lipella Pharmaceuticals Inc. (OTC: LIPO) - **News type**: Listings - **Primary source**: [Lipella Pharmaceuticals Inc. 8-K (2025-06-25)](https://www.sec.gov/Archives/edgar/data/1347242/000175392625001003/g084855_ex99-1.htm) *A stone federal courthouse. Photo: Carol M Highsmith, CC0, via rawpixel. The picture shows the field, not the companies named.* Lipella Pharmaceuticals Inc. filed a letter from Chief Executive Officer Jonathan Kaufman as Exhibit 99.1 to a Form 8-K on June 25, 2025. The letter answers 14 questions from stockholders after Nasdaq delisted the company's common stock. The shares, under the ticker LIPO, no longer trade on Nasdaq. ### What Nasdaq found According to the letter, Nasdaq concluded that private placements completed between December 2024 and March 2025 did not comply with Nasdaq Listing Rules 5100, 5635 and 5640. Those rules cover public interest concerns, stockholder approval and voting rights. The letter says Nasdaq cited the issuance of Series C voting convertible preferred stock and warrants to the placement agent and an advisor, given as partial pay for services in those offerings, as an issuance that ultimately required stockholder approval. It also says placement agent compensation paid in securities rather than cash did not fully conform to the rules. The company says it moved quickly to obtain that approval, but the Nasdaq Hearings Panel still elected to delist the stock. Kaufman writes that Lipella is no longer pursuing reinstatement. He says the company is assessing all options, including relisting on what he calls perhaps another national exchange. The letter also says the delisting "was not related to financial distress or business performance." That is the company's own characterization, and the letter cites no figures to support it. ### Where the shares trade now As of June 19, 2025, the common stock is quoted on the OTC Pink Market under LIPO. The letter notes that the OTC Pink market will be known as the OTCID from July 1, 2025. Lipella says it remains a fully reporting company. The letter says the company is exploring relisting on all national exchanges and intends to submit an initial listing application as soon as possible. It names no exchange and gives no date for an application. It also says a reverse stock split may be considered if needed to meet price-based listing criteria, but only as part of a relisting plan that delivers meaningful benefits to stockholders. The letter gives no share price. ### The pipeline claims and the numbers behind them Kaufman calls the two lead programs de-risked. LP-10 is in development for hemorrhagic cystitis, and LP-310 is in development for oral lichen planus. The letter says the company presented "statistically significant safety and efficacy data" from the first two cohorts of the LP-310 phase 2a trial in May 2025, with strong clinical and patient-reported improvements. It gives no sample size, no statistics and no comparison group for those results. The company's annual report filed March 28, 2025 describes the LP-310 phase 2a trial as a dose-escalation study in which eight participants received 0.25 mg in the first cohort. That report said the trial was expected to be completed in the second quarter of 2025. The letter now says Lipella expects final topline data from the fully enrolled trial in the second half of 2025, a later timeline than the annual report gave. On LP-10, the annual report describes a phase 2a study of 13 subjects, open-label, with summary results reported in the first quarter of 2023. The letter says only that the company is preparing for additional regulatory interactions. The letter says Lipella remains operationally sound and points to its most recent SEC filings for cash figures. It states no cash balance. The annual report filed March 28, 2025 reported a net loss of $5.0 million for 2024, compared with $4.6 million for 2023. It reported cash used in operations of $4.0 million in 2024, against $3.2 million in 2023, and revenue of $536,357 for 2024. Cash and cash equivalents were $3.3 million at the end of 2023. On future funding, the letter says any financing will be structured strategically to minimize dilution. It does not say how the company will fund operations until it reports the expected LP-310 data in the second half of 2025, or what a relisting would require. [Report an error](https://aibio.space/reputation/#correction) ## Companies in this story LIPO Lipella Pharmaceuticals Inc. OTC ยท United States Open the starter desk ## More in Listings Listings ### [Propanc Biopharma faces Nasdaq delisting on bid price, plans to appeal](https://aibio.space/news/propanc-biopharma-faces-nasdaq-delisting-bid-price-plans-appeal/) Oct 29, 2026 Listings ### [Reviva asks stockholders to approve reverse split of up to 1-for-100](https://aibio.space/news/reviva-asks-stockholders-approve-reverse-split-up-1-100/) Oct 29, 2026 Listings ### [Nasdaq to delist Glucotrack shares after bid price exception ends](https://aibio.space/news/nasdaq-delist-glucotrack-shares-after-bid-price-exception-ends/) Oct 28, 2026 --- Source page: https://aibio.space/news/lipella-pharmaceuticals-ceo-says-company-will-seek-relisting-after/. Facts in aibio.space stories are checked against company filings and releases; opinion is labelled. Cite as: aibio.space, "Lipella Pharmaceuticals CEO says company will seek relisting", 2025-06-25, https://aibio.space/news/lipella-pharmaceuticals-ceo-says-company-will-seek-relisting-after/