Lipella Pharmaceuticals Inc. (NASDAQ:LIPO) shares are trading higher Monday after the company announced the enrollment of the first patients in its Phase 2a clinical trial evaluating LP-310 for the treatment of Oral Lichen Planus (OLP).

The Details:

Lipella said the Phase 2a trial is a multi-center, dose-ranging study of LP-310, a proprietary liposomal-tacrolimus oral rinse formulation of the company’s lead candidate LP-10 for hemorrhagic cystitis. The trial has enrolled its first patients across multiple research sites nationwide and is actively screening additional subjects with symptomatic Oral Lichen Planus.

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"We are very pleased with the rapid pace of site activation, and the enrollment of our initial patients marks a pivotal milestone for both the company and the patient community suffering from this debilitating condition. This achievement reinforces our mission to redefine treatment paradigms for Oral Lichen Planus," said Dr. Jonathan Kaufman, CEO of Lipella Pharmaceuticals. 

Lipella shares are racing higher on heavy volume Monday with more than 100 million shares already changing hands, according to data from Benzinga Pro. 

Is LIPO A Good Stock To Buy?

An investor can make a few decisions when deciding whether a stock is a good buy. In addition to valuation metrics and price action which you can find on Benzinga's quote pages – like Lipella Pharmaceuticals‘s page for example – there are factors like whether or not a company pays a dividend or buys a large portion of its stock each quarter.

These are known as capital allocation programs. Lipella Pharmaceuticals does not pay a dividend, but obviously has a few ways it can return value to shareholders. Feel free to search Benzinga's dividend calendar for the next company that is due to pay a dividend and determine what kind of yield you can earn for holding a share of the company.

LIPO Price Action: According to Benzinga Pro, Lipella Pharmaceuticals shares are up 124% at $0.90 at the time of publication Monday.

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