---
schema_version: "secwatch.filing_event.v1"
accession: "0001753926-25-000984"
form_type: "8-K"
ticker: "LIPO"
cik: "0001347242"
company_name: "LIPELLA PHARMACEUTICALS INC."
filed_at: "2025-06-20T23:59:59+00:00"
generated_at: "2026-05-19T01:06:23.774934+00:00"
event_type: "regulatory"
sentiment: "negative"
materiality_score: 1.0
calibrated_materiality_score: 1.0
confidence: "high"
source: SEC EDGAR
---

# Lipella Pharmaceuticals receives Nasdaq delisting; stock moves to OTC Markets

## Summary
- Nasdaq Hearings Panel determined to delist Lipella common stock effective June 20, 2025; trading suspended.
- Non-compliance with Listing Rules 5635(d) and 5640 due to Series C preferred and warrants issued in Dec 2024-Mar 2025 private placements.
- Common stock now quoted on OTC Markets under symbol LIPO; company exploring other listing venues.
- Company disappointed, states business fundamentals intact; continuing clinical development of LP-10 and LP-310.
- Lipella remains an SEC reporting company and will continue filing periodic reports.

## SEC filing metadata
- accession: 0001753926-25-000984
- form_type: 8-K
- ticker: LIPO
- cik: 0001347242
- company_name: LIPELLA PHARMACEUTICALS INC.
- filed_at: 2025-06-20T23:59:59+00:00
- event_type: regulatory
- sentiment: negative
- materiality_score: 1.0
- calibrated_materiality_score: 1.0
- confidence: high
- sec_items: 3.01, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1347242/000175392625000984/0001753926-25-000984-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1347242/000175392625000984/g084852_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001753926-25-000984
- JSON: https://secwatch.observer/filing/0001753926-25-000984.json
- Plain text: https://secwatch.observer/filing/0001753926-25-000984.txt

## Key facts
- Listing & Compliance Notices
  LIPELLA PHARMACEUTICALS INC. received a nasdaq delisting notice notice regarding other (rules 5100, 5635(d), 5640).
  - Exchange: nasdaq
  - Notice: delisting notice
  - Rules: 5100, 5635(d), 5640
  source text: June 17, 2025, indicating that the Panel has determined to delist the Company’s common stock, par value $0.0001 per share (the “Common Stock”), from the Nasdaq Capital Market pursuant to Nasdaq Listing Rule 5100, which permits Nasdaq to use its discretionary authority for public interest concerns, due to the Company’s non-compliance with (i) Nasdaq Listing Rule 5635(d), which requires prior shareholder approval for the issuance, other than in a public offering, of 20% or more of a company’s outstanding shares at a per share price less than the Minimum Price (as defined in such rule), and (ii)
  evidence_url: https://www.sec.gov/Archives/edgar/data/1347242/000175392625000984/0001753926-25-000984-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.