VIA EDGAR
December 16, 2022
U.S. Securities and Exchange Commission
Division of Corporation Finance
100 F. Street, NE
Washington, D.C. 20549
Attn: Jason Drory
| Re: | LIPELLA PHARMACEUTICALS INC. | |
File No. 333-266397 Registration Statement on Form S-1, as amended |
Ladies and Gentlemen:
Pursuant to Rule 461 of the General Rules and Regulations of the U.S. Securities and Exchange Commission under the Securities Act of 1933, as amended (the “Securities Act”), Spartan Capital Securities, LLC, acting as representative of the underwriters, hereby joins Lipella Pharmaceuticals Inc. in requesting acceleration of the effective date of the above-referenced Registration Statement so that it will become effective on December 19, 2022, at 3:00 p.m. Eastern Time, or as soon thereafter as practicable.
Pursuant to Rule 460 under the Securities Act, we wish to advise you that we have distributed as many copies of the Preliminary Prospectus dated December 15, 2022, to selected dealers, institutions and others as appears to be reasonable to secure adequate distribution of the Preliminary Prospectus.
The undersigned confirm that it has complied and will continue to comply with, and it has been informed or will be informed by participating dealers that it has complied or will comply with, Rule 15c2-8 promulgated under the Securities Exchange Act of 1934, as amended, in connection with the above-referenced issue.
Very truly yours,
SPARTAN CAPITAL SECURITIES, LLC
| By: | /s/ Jason Diamond | |
| Name: | Jason Diamond | |
| Title: | Managing Director, Head of Investment | |