[25-NSE] LIPELLA PHARMACEUTICALS INC. SEC Filing

Rhea-AI Filing Summary

Lipella Pharmaceuticals, Inc. submitted a Form 25 notification indicating that a class of its securities will be removed from listing and/or registration on the Nasdaq Stock Market LLC.

Nasdaq certifies it has reasonable grounds to file the Form 25 and indicates compliance with the applicable Exchange rules and with 17 CFR 240.12d2-2 provisions for withdrawal or removal. The filing supplies issuer contact details in Pittsburgh but does not disclose timing, reason, or financial effects of the removal.

Positive

• Procedural compliance is documented with Nasdaq certifying adherence to 17 CFR 240.12d2-2
• Issuer contact details are provided, facilitating follow-up questions

Negative

• Removal from Nasdaq listing/registration is indicated, which is a material change to trading status
• No effective date or reason for the listing removal is disclosed, limiting investor assessment
• Class of securities not explicitly described in the text provided, reducing clarity on scope

Insights

Exchange Listing Specialist

Nasdaq removal notice filed; details on timing and reasons are not disclosed.

The document is a formal Form 25 notification that a class of Lipella Pharmaceuticals' securities will be struck from Nasdaq listing or its registration withdrawn. The notice states Nasdaq believes it has reasonable grounds for filing and cites compliance with 17 CFR 240.12d2-2 clauses.

Material dependencies are explicit: the filing confirms procedural compliance but omits timing, the specific class affected, and any financial or operational rationale. Investors should note the removal itself is material; the absence of dates or impacts limits ability to assess near-term effects.

Corporate Compliance Analyst

Filing documents procedural compliance but provides no impact metrics or transaction details.

The filing records issuer contact information and a certification by Nasdaq that Exchange rules were followed for striking the securities or withdrawing registration. It also references the applicable regulatory provisions and standard Form 25 procedures.

Risks center on missing disclosures: there is no statement about whether the withdrawal is voluntary or involuntary, no effective date, and no commentary on outstanding shares or secondary trading. Those omissions constrain clarity on liquidity and governance effects in the near term.

UNITED STATES

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SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 25

NOTIFICATION OF REMOVAL FROM LISTING AND/OR REGISTRATION
UNDER SECTION 12(b) OF THE SECURITIES EXCHANGE ACT OF 1934.

Commission File Number

001-41575

Issuer:	LIPELLA PHARMACEUTICALS INC.
Exchange:	Nasdaq Stock Market LLC

(Exact name of Issuer as specified in its charter, and name of Exchange where security is listed and/or registered)

Address:	7800 Susquehanna St., Suite 505
	Pittsburgh	PENNSYLVANIA	15208
Telephone number:					(412) 894-1853

(Address, including zip code, and telephone number, including area code, of Issuer's principal executive offices)

Common Stock

(Description of class of securities)

Please place an X in the box to designate the rule provision relied upon to strike the class of securities from listing and registration:

17 CFR 240.12d2-2(a)(1)

17 CFR 240.12d2-2(a)(2)

17 CFR 240.12d2-2(a)(3)

17 CFR 240.12d2-2(a)(4)

Pursuant to 17 CFR 240.12d2-2(b), the Exchange has complied with its rules to strike the class of securities from listing and/or withdraw registration on the Exchange. ¹

Pursuant to 17 CFR 240.12d2-2(c), the Issuer has complied with its rules of the Exchange and the requirements of 17 CFR 240.12d-2(c) governing the voluntary withdrawal of the class of securities from listing and registration on the Exchange.

Pursuant to the requirements fo the Securities Exchange Act of 1934, Nasdaq Stock Market LLC certifies that it has reasonable grounds to believe that it meets all of the requirements for filing the Form 25 and has caused this notification to be signed on its behalf by the undersigned duly authorized person.

2025-10-06	By	Aravind Menon		Hearings Advisor
Date		Name		Title

¹ Form 25 and attached Notice will be considered compliance with the provisions of 17 CFR 240.19d-1 as applicable. See General Instructions.

Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

FAQ

What does the Form 25 filed by Lipella Pharmaceuticals (LIPO) announce?

It notifies that a class of Lipella Pharmaceuticals' securities will be removed from listing and/or registration on the Nasdaq Stock Market LLC.

Does the filing state when the Nasdaq removal becomes effective for LIPO?

No. The document does not disclose an effective date for the removal.

Does the Form 25 explain why Lipella's securities are being removed?

No. The filing certifies compliance with rules but does not provide a reason for the removal.

Which regulatory provisions are cited in the Form 25 for LIPO's removal?

17 CFR 240.12d2-2 is cited, including references to subsections that govern striking securities from listing or voluntary withdrawal.

Who can investors contact for more information about the LIPO filing?

Contact details in the filing list the issuer's address in Pittsburgh and telephone number (412) 894-1853 for follow-up.