Lipella Pharmaceuticals Inc. announces private placement of pre-funded warrants to purchase up to an aggregate of 1,315,790 shares and warrants to purchase up to an aggregate of 1,315,790 shares at a purchase price for each pre-funded warrant and accompanying warrant is $1.519 resulting in a gross proceeds of $1,998,685 on October 24, 2023.The warrants will have an exercise price of $1.40 per share, will be immediately exercisable upon issuance, and will expire three years from the date of issuance. The offering is expected to close on or about October 25, 2023, subject to the satisfaction of customary closing conditions.