Lipella Pharmaceuticals Announces Delisting from Nasdaq Capital Market
PITTSBURGH, June 20, 2025 (GLOBE NEWSWIRE) -- Lipella Pharmaceuticals Inc. (OTC: LIPO) ('Lipella' or the 'Company'), a clinical-stage biotechnology company focused on developing therapies for diseases with significant unmet needs, today announced that the Nasdaq Hearings Panel has determined to delist the Company's common stock from The Nasdaq Capital Market. Trading in the common stock was suspended at the open of business today.
The delisting follows Nasdaq's determination that certain private placement transactions completed between December 2024 and March 2025 did not comply with Listing Rules 5100 (Public Interest Concern), 5635 (Shareholder Approval), and 5640 (Voting Rights). Specifically, Nasdaq cited the issuance of Series C voting convertible preferred stock and warrants to the Company's placement agent and advisor to those transactions, as having been structured in a way that triggered these rule violations.
The Company was notified by the Hearings Panel of its determination to delist the Company's common stock effective today. Lipella is disappointed by this decision—particularly in light of the fact that it was taking immediate steps to obtain stockholder approval and address the concerns raised by Nasdaq.
Lipella remains operationally sound, and its business fundamentals are intact. The Company is executing on its strategic and clinical development plans, including continued advancement of its lead product candidates LP-10 for hemorrhagic cystitis and LP-310 for oral lichen planus.
In parallel, Lipella is actively exploring other markets to list its common stock and is committed to relisting its shares on a trading venue that provides the best possible liquidity and access for investors. The Company's common stock is currently quoted on the OTC Markets under the symbol 'LIPO.'
'We acknowledge Nasdaq's decision and are focused on taking swift, constructive steps accordingly,' said Dr. Jonathan Kaufman, Chief Executive Officer of Lipella. 'Our commitment to our shareholders, our mission, and our clinical goals has not changed.'
The Company remains a reporting company under the Securities Exchange Act of 1934 and will continue to file periodic reports and disclosures with the U.S. Securities and Exchange Commission. Lipella will keep its stockholders informed of all material developments as it continues to assess its options.
About Lipella Pharmaceuticals Inc.
Lipella Pharmaceuticals is a clinical-stage biotechnology company focused on developing new drugs by reformulating active agents in existing generic drugs and optimizing these reformulations for new applications. Lipella targets diseases with significant unmet needs, where no approved drug therapies currently exist. The company completed its initial public offering in 2022. Learn more at lipella.com and follow us on X and LinkedIn.
Forward-Looking Statements
This press release includes certain "forward-looking statements." All statements, other than statements of historical fact, included in this press release regarding, among other things, our strategy, including with respect to the Company's exploration of all markets and its commitment to list its common stock, future operations, financial position, prospects, clinical trials, regulatory approvals, pipeline and opportunities, sources of growth, successful implementation of our proprietary technology, plans and objectives are forward-looking statements. Forward-looking statements can be identified by words such as "may," "will," "could," "continue," "would," "should," "potential," "target," "goal," "anticipates," "intends," "plans," "seeks," "believes," "estimates," "predicts," "expects," "projects" and similar references to future periods. Forward-looking statements are based on our current expectations and assumptions regarding future events and financial trends that we believe may affect among other things, market and other conditions, our financial condition, results of operations, business strategy, short- and long-term business operations and objectives, and financial needs. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict. Our actual results may differ materially from those contemplated by the forward-looking statements. We caution you, therefore, against relying on any of these forward-looking statements. They are neither statements of historical fact nor guarantees or assurances of future performance. There are risks, uncertainties and other factors, both known and unknown, that could cause actual results to differ materially from those in the forward-looking statements which include, but are not limited to, general capital market risks, regional, national or global political, economic, business, competitive, market and regulatory conditions, and other risks that may be included in the periodic reports and other filings that the Company files from time to time with the U.S. Securities and Exchange Commission. Any forward-looking statement made by us is based upon the reasonable judgment of our management at the time such statement is made and speaks only as of the date on which it is made. Factors or events that could cause our actual results to differ may emerge from time to time, and it is not possible for us to predict all of them. We undertake no obligation to update any forward-looking statement, whether as a result of new information, future developments or otherwise, except as may be required by applicable law. Nothing contained herein is, or shall be relied upon as, a promise or representation as to the past or future. In addition, the information contained in this press release is as of the date hereof, and the Company has no obligation to update such information, including in the event that such information becomes inaccurate. You should not construe the contents of this press release as legal, tax and financial advisors as to legal and related matters concerning the matters described herein.
CONTACT:
Jonathan Kaufman
Chief Executive Officer
Lipella Pharmaceuticals Inc.
Info@Lipella.com
1-412-894-1853
PCG Advisory
Jeff Ramson
jramson@pcgadvisory.com
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Globe and Mail
31 minutes ago
- Globe and Mail
MPI Shares WEC 2025 Highlights, Announces Strategic Growth and New Offerings at Annual Press Conference
St. Louis, MO, June 20, 2025 (GLOBE NEWSWIRE) -- Meeting Professionals International (MPI), the world's largest meeting and event industry association, hosted its annual press conference today at the World Education Congress (WEC) 2025 in St. Louis, celebrating the success of this year's signature event and outlining key updates from across the organization. Speakers included: Paul Van Deventer, President & CEO, MPI Rachel Benedick, Chief Revenue Officer, MPI Rob Adams, President & Owner, Bishop-McCann, and Chair, MPI International Board of Directors Rebecca DeLuca, Vice President of Destination Sales, Las Vegas Convention and Visitors Authority, and Chair, Global Board of Trustees, MPI Foundation Cory Elford, Senior Director, Marketing & Communications, MPI (moderator) Strategic and Business Updates: Paul Van Deventer MPI President and CEO Paul Van Deventer shared key updates on MPI's business performance and strategic direction, reaffirming the organization's commitment to innovation, inclusion, and industry leadership. Community Growth & Engagement With more than 13,000 members in the MPI community and nearly 6,500 planner members projected by year-end 2025, MPI's influence continues to grow. The buying power represented by its members exceeds $26 billion annually. The organization reaches its members through more than 40,000 chapter events, 14,000 MPI Academy class participants, digital platforms, publishing, social channels, and in-person gatherings. New Global Partnerships MPI continues to expand its reach in Latin America, and this is the fastest growing region. Over the past five years in Latin America, our community has grown more than 50% and we have 9 chapters and clubs in the region. MPI is partnering with FIEXPO Latin America and WMF Brave Meetings to deliver education and meet-ups. MPI is pleased to welcome 104 international attendees to WEC, including 59 from Canada, 24 from EMEA and APAC and 21 from Latin America. Strong Financial Outlook MPI remains on a solid financial trajectory, showing continued year-over-year improvement. According to MPI's 7-year consolidated cash and financial trend data, the organization continues to deliver operational excellence and invest in new capabilities while maintaining a balanced budget and financial health. These gains allow MPI to remain agile in responding to the needs of its global community. Strategic Focus Areas for 2025: Rob Adams Rob Adams emphasized six strategic focus area guiding MPI's future. Established by the International Board of Directors during the 2024 board retreat, these priorities aim to drive sustainable growth through revenue and EBITDA efficiency, strengthen member loyalty through community engagement and advance the industry by investing in member education and professional development. Advancing Social Responsibility MPI continues to lead the industry in promoting ethical practices and social responsibility. This year's initiatives include required training for staff and volunteers on anti-human trafficking, anti-harassment, and conflict resolution. MPI also introduced 'HEAR:' Help, Equity, Action, Resolution, a support framework that fosters psychological safety for members facing difficult issues. Further efforts include neuroinclusion training in partnership with ASAE and research into workforce development with IMEX Group. New MPI Leadership MPI also announced its incoming 2025 leadership: Jim Russell, Chair Elect, International Board of Directors; Executive Vice President of Sales (formerly EVP of Client Relationships) at Freeman. Richard Allchild, Chair Elect, Global Board of Trustees, MPI Foundation; Head of Sales for North America and IMEX Group. WEC 2025 St. Louis Recap: Rachel Benedick This year's WEC brought together approximately 2,200 registered attendees with 1,900 in person. More than 45% of attendees were meeting planners and 984 first time attendees to WEC. Curated by MPI Academy, WEC attendees had the opportunity to participate in more than 113 educational sessions and 165 speakers and facilitators, attendees earned up to 13 CE hours. Keynote highlights included: Brittany Packnett Cunningham - Activist, Educator, Author: 'The Confidence Revolution.' A sought-after voice on social justice and empowerment, Cunningham challenges audiences to build a culture of belonging, tackle inequity, and create meaningful, systemic change. Freestyle+ - Hip-Hop Comedy Group: 'The Power of Play featuring Freestyle Love Supreme.' This combines Tony-award-winning performers with science-backed learning frameworks to foster spontaneous laugher, authentic connection and lasting discovery. Temple Grandin – Scientist, Author, Inventor: 'Great Minds Are Not All the Same' A leading advocate for autism awareness, Grandin will help audiences understand how autistic individuals use object visualization or math pattern thinking to solve problems, and how all minds can contribute to your team's strengths. Daniel Lewis - Entrepreneur, Founder of T By Daniel: 'RALLY to Lead: Igniting Connection, Collaboration & Change!' Known for transforming adversity into opportunity, Lewis shares insights on entrepreneurial spirit, building authentic connections, and using collaboration as a force for positive change. Resident Emcee - Carol Daniel, Senior Producer and Host at Nine PBS in St. Louis: helped guide attendees in their WEC St. Louis journey. Evening Events Showcase St. Louis Hospitality WEC attendees enjoyed one-of-a-kind experiences throughout the city, including: Opening Celebration at Busch Stadium President's Dinner honoring chapter leaders and RISE Award winners, featuring entertainment by Jarrod Spector and honoring Stephen Revetria MPI Foundation Rendezvous at The Pageant (sold out); an electric night of music and philanthropy in this nationally acclaimed concert venue in the heart of St. Louis nightlife. Guests experienced live musical performances, St. Louis-inspired cuisine, and plenty of fun to keep the energy soaring all night long. This is an important fundraiser for MPI Foundation, which has been funding individual education scholarships, chapter grants and industry research for the past 40 years. Closing Celebration: Feast & Flow: We concluded WEC with a closing celebration like no other, giving attendees a journey through the heart & soul of St. Louis. Live entertainment, bold flavors and St. Louis creativity take over the city's most artistic neighborhood. Attendees will be treated to a special concert by Nelly, a Grammy-winning artist from St. Louis. Photos from WEC St. Louis are available here. Additional photos from Friday's events will be added soon. The digital experience, hosted by The Amani Experience, delivered content to virtual attendees around the globe. It featured livestreamed general sessions, LinkedIn Live interviews, plus more than 30 exclusive interviews with speakers, executives, partners and members. Additionally, 11 featured and general sessions were available for digital attendees on-demand, providing more opportunities for MPI members to take part in meaningful education. New this year: WEC attendees were treated to off-site experiences in real-world environments through MPI Learning Journeys. These immersive experiences combine education with a strong sense of place. This is a popular event at MPI European Meetings and Events Conference (EMEC) and MPI is excited to bring Learning Journeys to WEC attendees. Learning Journeys included: The Role of Events in Black History, St. Louis – Missouri History Museum Power of Play, Transform Your Meetings & Events with Games – City Museum Executive Three | Sixty: Disruption, Neuroscience and the Science of Happiness – Washington University in St. Louis Women in Business: A Journey of Resilience and Connection – Energizer Park The St. Louis Legends Series offered an opportunity for WEC attendees to learn from St. Louis thought leaders —from entrepreneurs to creatives—who bring outside-industry insights to inspire cross-sector leadership and innovation MPI partnered with Bishop-McCann to bring the JOY Index™ to WEC, an innovative, AI-powered platform that measures real-time attendee engagement using facial analytics and biometric data. With the JOY Index, MPI captured authentic emotional responses during the keynotes, offering a new dimension of insight into what truly resonated with participants. Unlike traditional surveys that rely on memory and subjective recall, the JOY Index™ tracked physiological responses, including changes in blood flow correlated with joy-related neurochemicals, without collecting any personal data. Over 2,500 attendees had the opportunity to opt in by scanning a QR code and downloading a companion app, which paired with wearable tech and Zenus facial recognition software to anonymously collect engagement data. The JOY Index opens the door to smarter, more meaningful event design. MPI is engaging with local organizations to direct social sustainability efforts where they're needed most, from planting trees for carbon offset to tackling food waste through pre- and post-event audits. This includes a robust food waste audit during MPI, in partnership with ReFED, WWF and the U.S. Food Waste Pact. The food waste audit included pre-event training at the venue and an audit during the event with real-time adjustments. We will be using our WEC experience as a case study and developing tools for industry professionals later this year. MPI unveiled a variety of education options at WEC, including shorter post-lunch 'micro-sessions,' deeper dives in the afternoon and Bonfires within the WEC Marketplace, allowing attendees to explore education that fits their needs. MPI Academy Updates: Rachel Benedick MPI unveiled several key advancements from the MPI Academy, reflecting MPI's commitment to leading-edge education, professional development, and industry innovation. Reimagined Learning Platform The MPI Academy has launched a new Learning Management System (LMS), designed with a user-generated content framework to empower members to contribute and share knowledge more easily. The new platform also enhances accessibility and interactivity, allowing for more engaging and flexible learning pathways. Innovative Certificate Programs To support career growth in an evolving marketplace, MPI introduced a suite of self-paced certificate programs that address emerging industry needs. These include: AI for Sales Professionals – A practical course covering lead generation, automation tools like ChatGPT and Jasper, and AI-enhanced CRM strategies. AI 201: Advanced Applications – A deeper dive into predictive insights, personalization, and workflow optimization using AI, helping event professionals integrate intelligent tools into their everyday operations. CMM Program Relaunch MPI is relaunching the Certified Meeting Manager (CMM) program with a modernized curriculum that reflects today's business challenges and learning preferences. This process included: Surveys of past CMM holders to guide content and format updates In-person focus groups to gain detailed insights Virtual focus groups to ensure broad accessibility and feedback across global regions The updated CMM experience is designed to deliver elevated leadership training and a stronger return on professional development investment. These updates reflect MPI Academy's mission to equip meeting and event professionals with the skills and strategies needed to lead in a fast-changing industry. With a focus on innovation, accessibility, and personalization, MPI Academy continues to shape the future of learning in the global events community. MPI Consulting Officially Launches MPI also announced the full launch of MPI Consulting, the only consultancy powered by over 13,000 MPI community members. MPI Consulting provides tailored, data-informed solutions for both meeting planners and suppliers, combining MPI's unparalleled access to industry expertise with a focus on strategic event transformation. Led by Executive Director Jessie States, MPI Consulting offers a comprehensive suite of services designed to elevate event strategy and participant engagement. For meeting planners, services include live event strategy consulting, customized focus groups, and expert speaker and facilitator sourcing. These services empower organizations to align events with business objectives, uncover attendee insights, and deliver content that resonates. For event suppliers, such as destinations, venues, and technology companies, MPI Consulting provides facilitated focus groups, customized client surveys, and speaker solutions for customer events, all built to help suppliers better understand planner expectations and enhance value delivery. Built on MPI's global network and trusted brand, MPI Consulting stands out as a high-impact, insight-driven solution for any organization looking to optimize its meeting strategy, measure success more meaningfully, and foster authentic connections. MPI Foundation Updates: Rebecca DeLuca For more than 40 years, MPI Foundation (MPIF) has been celebrating the power of good in the industry and providing significant contributions to the meeting and event industry. Since its inception in 1984, MPIF has distributed more than $14.6 million to the industry, various chapters, and over 25,000 individual members. Additionally, MPIF has facilitated $115,000 in scholarships for more than 100 attendees to participate in WEC St. Louis, demonstrating its ongoing commitment to supporting industry professionals. During WEC St. Louis, several fundraising activities are underway to support the foundation's initiatives. These activities include an MPI-hosted silent auction, a pickleball event hosted by Visit Seattle and Chicken 'N Pickle, and a live auction at the Presidents Dinner. The highlight of the fundraising efforts is the Rendezvous event, sponsored by Explore St. Louis. Collectively, these events are forecasted to raise more than $200,000, underscoring the community's strong support for MPIF's mission and future endeavors. MPI Events Updates: Rachel Benedick Upcoming MPI signature events include: theEVENT in Fredericton, Canada (Sept. 7-9, 2025) EMEC 2026 in Barcelona, Spain (Feb. 21–24, 2026) WEC 2026 in San Antonio, TX (June 2–4, 2026) WEC 2027 in Las Vegas, NV (June 2027) WEC 2028 in Denver, CO (June 2028) WEC 2029 in Anaheim, CA (June 2029) WEC 2030 in Tampa Bay, FL (June 2030) Attachment WEC St. Louis
Globe and Mail
an hour ago
- Globe and Mail
Why Centrus Energy Stock Leaped 5% Higher Today
Centrus Energy (NYSEMKT: LEU) attracted the right kind of energy on the stock exchange Friday. The company's shares closed that session 5% higher, after it published news of an important contract renewal. That pop looked particularly impressive when matched against the S&P 500 's (SNPINDEX: ^GSPC) trajectory, which dipped into the red with a 0.2% decline. An energetic extension Before market open that morning, Centrus divulged that the U.S. Department of Energy (DoE) exercised its option to extend the company's contract to produce for it high-assay, low-enriched uranium (HALEU). The extension now runs through June 30, 2026. HALEU is a type of nuclear fuel that has a level of enrichment considered most suitable for current nuclear reactor technology, including the small nuclear reactors (SMRs) that have recently come into vogue. In what's probably not a coincidence, Centrus' latest news comes barely a week after its business partner Oklo was tapped to build and operate a nuclear plant to supply heat and electricity to an Air Force base in Alaska. The two companies have a memorandum of understanding (MOU) in place for Centrus to supply HALEU for Oklo's projects. The trend is its friend In its press release on the contract extension, Centrus added that the DoE holds options for further extensions to the existing contract. It could opt to keep Centrus's HALEU supply going for as much as a further eight years. So it's not only good news that a major business for the company has a longer runway, but it's looking for more as time goes by. Assuming President Trump's embrace of nuclear energy remains in place (and possibly outlives his administration), Centrus will be in a very good position indeed. Should you invest $1,000 in Centrus Energy right now? Before you buy stock in Centrus Energy, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the 10 best stocks for investors to buy now… and Centrus Energy wasn't one of them. The 10 stocks that made the cut could produce monster returns in the coming years. Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you'd have $659,171!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you'd have $891,722!* Now, it's worth noting Stock Advisor 's total average return is995% — a market-crushing outperformance compared to172%for the S&P 500. Don't miss out on the latest top 10 list, available when you join Stock Advisor. See the 10 stocks » *Stock Advisor returns as of June 9, 2025
Globe and Mail
2 hours ago
- Globe and Mail
House of Commons passes Liberals' major projects bill
Liberal and Conservative members of Parliament voted to pass the government's major projects legislation this evening. After the second of two votes, Prime Minister Mark Carney crossed the floor to shake hands with Opposition House leader Andrew Scheer and Conservative deputy leader Melissa Lantsman. Two votes were held instead of one after the House Speaker ruled that the legislation had two distinct parts without a clear common element. That allowed the Bloc Québécois and NDP members to vote in favour of the first part of the bill — which looks to tackle internal trade barriers — and against the more controversial second part dealing with major projects. The major projects bill grants the government sweeping powers to quickly approve projects that are deemed to be in the national interest. The bill is now headed to the Senate, which is scheduled to sit until June 27.
