Last $20.55 USD
Change Today +0.30 / 1.48%
Volume 52.2K
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As of 2:22 PM 01/26/15 All times are local (Market data is delayed by at least 15 minutes).

la jolla pharmaceutical co (LJPC) Snapshot

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la jolla pharmaceutical co (LJPC) Details

La Jolla Pharmaceutical Company, a biopharmaceutical company, focuses on the discovery, development, and commercialization of therapeutics for chronic organ failure and cancer. The company’s products include GCS-100 that is in Phase II clinical trial for the treatment of chronic kidney disease. It also provides LJPC-501, a peptide agonist of the renin-angiotensin system, which is designed to help restore kidney function in patients with hepatorenal syndrome; and LJPC-401, a peptide for the treatment of iron disorders. La Jolla Pharmaceutical Company was founded in 1989 and is headquartered in San Diego, California.

7 Employees
Last Reported Date: 03/31/14
Founded in 1989

la jolla pharmaceutical co (LJPC) Top Compensated Officers

Chief Executive Officer, President, Principal...
Total Annual Compensation: $420.0K
Compensation as of Fiscal Year 2013.

la jolla pharmaceutical co (LJPC) Key Developments

La Jolla Pharmaceutical Company and the George Washington University Announce Exclusive Worldwide License Agreement

On December 9, 2014, La Jolla Pharmaceutical Company entered into a Patent License Agreement, effective as of November 30, 2014, with The George Washington University (GW), under which GW exclusively licensed certain intellectual property rights, assigned to and controlled by GW, relating to the potential use of angiotensin II for the treatment of hypotension. The licensed intellectual property rights principally consist of three provisional patent applications filed in the United States, with worldwide rights to foreign filings on such application(s). The company is currently developing a proprietary formulation of angiotensin II (internally referred to as LJPC-501) for the treatment of catecholamine-resistant hypotension. Under the License Agreement, the company will pay a one-time license initiation fee of $250,000. In consideration for the continued use of the Patent Rights, the company is required to pay a nominal annual license maintenance fee. Upon the achievement of certain milestones relating to clinical approvals and the issuance of patents within the Patent Rights, the company will be required to pay milestone fees totaling up to $1,725,000 in the aggregate. Additionally, the company will be required to pay royalties on products covered by the Patent Rights (a Licensed Product), with such royalty rates ranging from the low- to mid- single digits. Commencing one year after the first commercial sale of a Licensed Product, the company will be required to pay escalating minimum annual royalty payments, up to the mid-six-figure range. Upon a sublicense of the Patent Rights to a third party, the company will be required to pay a portion of the sublicense revenue to GW, in a declining amount over a three-year period from execution of the License Agreement. The company will also be required to use commercially reasonable efforts to develop and commercialize one or more Licensed Products within certain pre-determined time periods set out the License Agreement.

La Jolla Pharmaceutical Company Announces Results from Phase 2 Study of GCS-100 in Chronic Kidney Disease

La Jolla Pharmaceutical Company announced that detailed results from its Phase 2 study of GCS-100 in chronic kidney disease (CKD) patients are being presented at a poster session at the American Society of Nephrology's (ASN) Kidney Week Annual Meeting. GCS-100, which blocks the activity of the pro-fibrotic mediator galectin-3, has the potential to be a first-in-class disease-modifying agent for the treatment of diseases characterized by progressive tissue fibrosis, such as CKD. This multicenter, randomized, blinded, placebo-controlled, Phase 2 study in 121 advanced CKD patients met its primary efficacy endpoint of a statistically significant improvement in kidney function. Specifically, GCS-100, at a dose of 1.5 mg/m(2), led to a statistically significant (p=0.045) improvement in estimated glomerular filtration rate (eGFR) versus placebo after 8 weeks of dosing. This improvement, compared to placebo, was maintained 5 weeks following the completion of dosing (p=0.07). No statistically significant improvement in eGFR was observed in the 30 mg/m(2) dose group. The lack of consistent response in the 30 mg/m(2) group may be due to off-target drug effects, as this dose is 1,400-fold in excess, on a molar basis, versus known circulating galectin-3 levels. Off-target effects may include antagonizing other galectins like galectin-9, which has opposing biological effects to galectin-3. GCS-100's effect on eGFR was more pronounced (p=0.029) in the prospectively defined subset of patients with diabetic etiology. Analysis of this subset was predefined based on the observation that galectin-3 is elevated in the kidneys of diabetic CKD patients, and the level of galectin-3 correlates with proteinuria (a marker of kidney health) in these patients. GCS-100 was well-tolerated. There were no serious adverse events, no Grade 3/4 adverse events and no early study discontinuations in the 1.5 mg/m(2) group. There was no observed effect on blood pressure in any dose group.

La Jolla Pharmaceutical Co. Announces Unaudited Consolidated Financial Results for the Third Quarter and Nine Months Ended September 30, 2014

La Jolla Pharmaceutical Co. announced unaudited consolidated financial results for the third quarter and nine months ended September 30, 2014. For the quarter, the company reported loss from operations of $5.061 million against $4.173 million a year ago. Net loss attributable to common shareholders was $5.052 million or $0.37 per diluted share against $4.509 million or $5.45 per diluted share a year ago. For the nine months, the company reported loss from operations of $14.477 million against $11.541 million a year ago. Net loss attributable to common shareholders was $14.464 million or $1.58 per diluted share against $12.339 million or $21.35 per diluted share a year ago. Cash used in operating activities for the nine months ended September 30, 2014 was $7.5 million, compared to $2.7 million for the same period in 2013.


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