The company's principal assets include its intellectual property portfolio, the LP-310 and LP-10 clinical programs with associated FDA designations, U.S. Patent No. 12,138,345 covering the liposomal delivery platform, and a Pittsburgh manufacturing facility. The pipeline includes LP-10, a liposomal tacrolimus for hemorrhagic cystitis with FDA Orphan Drug Designation, and LP-310, a liposomal tacrolimus oral rinse for oral lichen planus, with LP-310 completing a Phase 2a trial across 27 patients in February 2025 and receiving FDA Expanded Access Program approval.
The company entered Chapter 11 bankruptcy in March 2026 after exhausting cash reserves despite having promising clinical assets and patent protection. While the liposomal delivery platform and clinical data represent strategic value, the restructuring and asset sale process create significant uncertainty for equity investors.
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