Lipella Pharmaceuticals Inc. announced that it has filed a voluntary petition for relief under Chapter 11 of the U.S. Bankruptcy Code in the United States Bankruptcy Court for the Western District of Pennsylvania. The company intends to pursue a 363 sale process under Chapter 11 in order to maximize value for its creditors.
In connection with the Chapter 11 proceedings, the company expects to seek customary "first-day" relief. If approved by the Court, this relief would allow Lipella to continue day-to-day operations, including maintaining cash management systems and paying employee wages and benefits in the ordinary course.
LIPO closed Monday's regular trading at $0.0700, down $0.0020 or 2.78%.
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May 15, 2026 15:25 ET Apart from the confirmation of Kevin Warsh as the next Fed chair, the main news on the economics front this week included key price data from the U.S. and the first quarter economic growth figures from major economies. Both consumer prices and producer costs have started to reflect the effect of supply shocks due to the Middle East conflict. In Europe, GDP data was in focus, while inflation data from China dominated the news flow in Asia.