DALLAS, March 5, 2010 (GLOBE NEWSWIRE) -- StockPreacher.com announces an investment report featuring La Jolla Pharmaceuticals Co. (Pink Sheets:LJPC). The report includes financial, comparative and investment analysis, and industry information you need to know to make an educated investment decision.
The full report is available at: http://www.stockpreacher.com/n/LJPC
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La Jolla Pharmaceutical Co. (LJPC) is a biopharmaceutical company focused on the development and testing of Riquent® as a treatment for Lupus nephritis. Lupus is an antibody-mediated disease caused by abnormal B cell production of antibodies that attack healthy tissues. The Company's wholly owned subsidiary is La Jolla Ltd.
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In the report, the analyst notes:
"The Company has discontinued its clinical trials for Riquent and has discontinued all research, development and clinical activities. In addition, the Company has terminated substantially its entire workforce. Accordingly, the Company's operating expenses and net loss for the three and nine months ended September 30, 2009, are expected to be substantially lower than reported for the three and nine months ended September 30, 2008.
"LJPC said this week its stock will be delisted from the Nasdaq on Thursday March 4th, and added that shareholders did not respond to its plans to merge with another drug company. The stock will be suspended from the Nasdaq starting Thursday morning after a panel denied LJPC's request for an extension. The Company does not have any products on the market, and trials of the only drug it was developing, the lupus treatment Riquent, were suspended more than a year ago. The Company proposed a merger with Adamis Pharmaceuticals Corp., but it did not receive enough responses from shareholders to hold a meeting."
To read the entire report visit: http://www.stockpreacher.com/n/LJPC
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