LIPO Lipella Pharmaceuticals Inc

Lipella Pharmaceuticals Inc. (NASDAQ: LIPO) (“Lipella” or the “Company”), a clinical-stage biotechnology company, announced today the receipt of U.S. Food & Drug Administration (“FDA”) Type-C meeting guidance regarding the LP-10 (liposomal tacrolimus) clinical program. Lipella expects to initiate a Phase 2b clinical trial evaluating LP-10 as a treatment for hemorrhagic cystitis in approximately 36 patients in the second half of 2024.

The FDA provided preliminary agreement on Lipella’s overall trial design, including objectives, safety monitoring, control group monitoring, the dosing protocol, the primary efficacy endpoint, and sample size considerations.

Lipella’s Chief Medical Officer, Dr. Michael Chancellor, stated, “We can now proceed with the confidence that our Phase 2b study design can successfully meet its regulatory objectives. This clarity significantly advances our value proposition.”

LP-10 is an intravesical liposomal formulation of tacrolimus, intended for the treatment of moderate to severe hemorrhagic cystitis. Lipella has demonstrated preliminary safety and efficacy of LP-10 in a Phase 2a study, which treated 13 patients with up to two courses of LP-10 intravesical bladder instillations, and resulted in improved urinary symptoms, including decreased hematuria, decreased cystoscopic bleeding, and a reduced number of ulceration sites. Pharmacokinetic analysis demonstrated LP-10’s very short duration of systemic uptake.

About Hemorrhagic CystitisHemorrhagic cystitis is a chronic condition involving significant urinary blood loss associated with certain cancer therapies. There are currently no FDA approved treatments for moderate to severe hemorrhagic cystitis, a highly morbid and sometimes fatal condition. Lipella is targeting a patient population of approximately 60,000 annually.

About Lipella PharmaceuticalsLipella is a clinical-stage biotechnology company focused on developing new drugs by reformulating the active agents in existing generic drugs and optimizing these reformulations for new applications. Additionally, the company maintains a therapeutic focus on diseases with significant, unaddressed morbidity and mortality where no approved drug therapy currently exists. Lipella recently completed an initial public offering in December 2022. For more information, visit www.lipella.com or LinkedIn for updates.

Forward-Looking StatementsThis 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, 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, risks related to the effective application of the use of proceeds from the private placement, general capital market risks, regional, national or global political, economic, business, competitive, market and regulatory conditions, and other factors. 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.

ContactJonathan KaufmanChief Executive OfficerLipella Pharmaceuticals Inc.ir@lipella.com 1-412-894-1853

PCG AdvisoryJeff Ramsonjramson@pcgadvisory.com