10-Q - LIPELLA PHARMACEUTICALS INC. (0001347242) (Filer)
Wed, May 14, 9:12 PM (40 days ago)
**Lipella Pharmaceuticals Inc. (LIPO) Q1 2025 Financial Summary** Lipella Pharmaceuticals Inc. (LIPO) reported a net loss of $1,306,523 for Q1 2025, compared to a net loss of $1,191,809 in Q1 2024. The company's revenue for Q1 2025 was $129,390, a decrease from $145,880 in Q1 2024, primarily due to subcontractor costs and time dedicated to the grant project. **Key Financial Metrics:** - **Revenue:** $129,390 (Q1 2025) vs. $145,880 (Q1 2024) - **Net Loss:** $1,306,523 (Q1 2025) vs. $1,191,809 (Q1 2024) - **Cash and Cash Equivalents:** $4,225,012 (March 31, 2025) vs. $2,184,863 (December 31, 2024) - **Total Assets:** $4,856,051 (March 31, 2025) vs. $2,673,870 (December 31, 2024) - **Total Liabilities:** $776,847 (March 31, 2025) vs. $754,417 (December 31, 2024) - **Stockholders' Equity:** $4,079,204 (March 31, 2025) vs. $1,919,453 (December 31, 2024) **Operating Expenses:** - **R&D Expenses:** $993,475 (Q1 2025) vs. $842,600 (Q1 2024) - **General and Administrative Expenses:** $463,736 (Q1 2025) vs. $520,926 (Q1 2024) **Cash Flow:** - **Net Cash Used in Operating Activities:** $1,426,126 (Q1 2025) vs. $1,388,438 (Q1 2024) - **Net Cash Provided by Financing Activities:** $3,466,275 (Q1 2025) vs. $200,000 (Q1 2024) **Trends and Uncertainties:** - The company anticipates continued operating losses due to research, development, and clinical trial costs. - Lipella Pharmaceuticals has a going concern uncertainty due to its historical losses and the need for significant additional capital. - The company's stock is currently listed on the Nasdaq Capital Market, but it has received notifications of non-compliance with certain listing requirements. **Future Operations Impact:** - Lipella Pharmaceuticals plans to continue its clinical development activities for LP-10 and LP-310, as well as advance the preclinical development of other programs. - The company expects to incur substantial operating losses and negative operating cash flows for the foreseeable future. - Lipella Pharmaceuticals believes its existing cash and cash equivalents will be sufficient to fund operations and capital expenses through the end of 2025, but this estimate is based on assumptions that may prove to be wrong.