Lipella Pharmaceuticals files Chapter 11, sells substantially all assets to XRAIY LLC

LIPELLA PHARMACEUTICALS INC.

Filed Chapter 11 on March 30, 2026 in Western District of Pennsylvania.
Entered Asset Purchase Agreement with XRAIY LLC on May 14, 2026 to sell substantially all assets.
Bankruptcy Court approved sale on June 4, 2026 via Sale Order.
Company warns common stock trading is highly speculative; recovery for shareholders uncertain.
Sale is free and clear of liens, claims, and encumbrances.

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