Certain Options of Lipella Pharmaceuticals Inc. are subject to a Lock-Up Agreement Ending on 17-JUN-2023. These Options will be under lockup for 180 days starting from 19-DEC-2022 to 17-JUN-2023.

Details:
The Company, all of the officers and directors, and the principal holders of outstanding shares of Common Stock intend to agree, that for a period of 180 days from the date of the prospectus, with respect to certain investors sourced by Spartan, and for a period of 90 days from the date of the prospectus.