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SAN DIEGO, March 14, 2018 (GLOBE NEWSWIRE) -- La Jolla Pharmaceutical Company (Nasdaq:LJPC) (La Jolla), a leader in the development of innovative therapies intended to significantly improve outcomes in patients suffering from life-threatening diseases, today announced a registered offering of $100.0 million of its shares of common stock. In addition, La Jolla has granted the underwriter a 30-day option to purchase up to $15.0 million of its shares of common stock. All of the shares to be sold in the public offering are being offered by La Jolla.
Cowen is acting as the sole book-running manager for the offering.
La Jolla intends to use the proceeds from the proposed sale of its shares of common stock for general corporate purposes, which include, but are not limited to, the continued commercialization of GIAPREZATM (angiotensin II), funding its ongoing and future clinical trials of LJPC-401, preclinical development work and other administrative expenses.
The offering is being made pursuant to a registration statement that was filed with the Securities and Exchange Commission and became effective on November 21, 2017. This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or other jurisdiction. Copies of the final prospectus supplement (when available) and accompanying prospectus relating to these securities may also be obtained by sending a request to: Cowen and Company, LLC, c/o Broadridge Financial Services, 1155 Long Island Avenue, Edgewood, NY 11717, Attention: Prospectus Department, or by telephone at (631) 274-2806.
Forward Looking Statement Safe Harbor
This press release contains forward-looking statements, as that term is defined in the Private Securities Litigation Reform Act of 1995. These statements relate to expectations regarding the closing of the above referenced securities offering. These statements are only predictions or statements of current expectations and involve known and unknown risks, uncertainties and other factors. La Jolla cautions readers not to place undue reliance on any such forward-looking statements, which speak only as of the date they were made. Certain of these risks, uncertainties and other factors are described in greater detail in La Jolla’s filings with the U.S. Securities and Exchange Commission (SEC), all of which are available free of charge on the SEC’s website www.sec.gov. La Jolla expressly disclaims any intent to update any forward‑looking statements to reflect the outcome of subsequent events.
Director, Investor Relations & Human Resources
La Jolla Pharmaceutical Company
Phone: (858) 207-4264 Ext: 1135
Dennis M. Mulroy
Chief Financial Officer
La Jolla Pharmaceutical Company
Phone: (858) 207-4264 Ext: 1040
Clinical trials are a set of procedures in medical research conducted to allow safety (or more specifically, information about adverse drug reactions and adverse effects of other treatments) and efficacy data to be collected for health interventions (e.g...