La Jolla Pharmaceutical Company Announces Pricing of Underwritten Offering of Common Stock
September 10 2015 - 8:00AM
Business Wire
La Jolla Pharmaceutical Company (Nasdaq: LJPC) (the “Company” or
“La Jolla”), a leader in the development of innovative therapies
intended to significantly improve outcomes in patients suffering
from life-threatening diseases, today announced the pricing of an
underwritten offering of 2,550,000 shares of its common stock,
offered at a price of $38.00 per share. La Jolla has granted the
underwriters a 30-day option to purchase up to an additional
382,500 shares of common stock. The offering is expected to close
on or about September 15, 2015, subject to customary closing
conditions. Jefferies LLC and Cowen and Company, LLC are acting as
joint book-running managers for the offering. Chardan Capital
Markets, LLC, LifeSci Capital LLC and Noble Life Science Partners
are acting as co-managers for the offering.
Gross offering proceeds will be $96,900,000 before deducting
underwriting discounts and commissions and estimated offering
expenses payable by La Jolla. La Jolla intends to use the net
proceeds from the underwritten offering for general corporate
purposes, including funding its ongoing and future clinical trials,
and for general and administrative expenses.
The securities described above are being offered pursuant to a
shelf registration statement (File No. 333-197092), including a
base prospectus, which was declared effective by the United States
Securities and Exchange Commission (the “SEC”) on July 11, 2014,
and a related automatically effective registration statement filed
pursuant to Rule 462(b) of the Securities Act of 1933 (File No.
333-206855). The specific terms of the offering are described in a
prospectus supplement filed with the SEC in connection with the
offering. 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. The
offering will be made only by means of the prospectus supplement
and accompanying prospectus, copies of which may be obtained at the
SEC’s website at www.sec.gov, or by request at Jefferies LLC,
Attention: Equity Syndicate Prospectus Department, 520 Madison
Avenue, 2nd Floor, New York, NY 10022, telephone: (877) 547-6340,
e-mail: Prospectus_Department@Jefferies.com, or at Cowen and
Company, LLC, c/o Broadridge Financial Services, Attention:
Prospectus Department, 1155 Long Island Avenue, Edgewood, NY 11717,
telephone: (631) 274-2806, fax: (631) 254-7140.
This press release contains statements relating to the proposed
offering that are forward-looking statements within the meaning of
Section 21E of the Securities Exchange Act of 1934, as amended.
Such statements involve risks and uncertainties, such as the risk
that the conditions to the closing of the offering will not be
satisfied. All forward-looking statements are based upon
information available to La Jolla on the date the statements are
first published. La Jolla undertakes no obligation to publicly
update or revise any forward-looking statements, whether as a
result of new information, future events or otherwise.
About La Jolla Pharmaceutical Company
La Jolla Pharmaceutical Company is a biopharmaceutical company
focused on the discovery, development and commercialization of
innovative therapies intended to significantly improve outcomes in
patients suffering from life-threatening diseases. The Company has
several product candidates in development. LJPC-501 is La Jolla’s
proprietary formulation of angiotensin II for the potential
treatment of catecholamine-resistant hypotension. LJPC-401 is La
Jolla’s novel formulation of hepcidin for the potential treatment
of iron overload, which occurs as a result of diseases such as
hereditary hemochromatosis (HH), beta thalassemia and sickle cell
disease. LJPC-30Sa and LJPC-30Sb are La Jolla’s next-generation
gentamicin derivatives for the potential treatment of serious
bacterial infections and rare genetic disorders, such as cystic
fibrosis and Duchenne muscular dystrophy.
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La Jolla Pharmaceutical CompanyGeorge F. Tidmarsh, M.D.,
Ph.D.President & Chief Executive
Officer858-207-4264gtidmarsh@ljpc.comorDennis M. MulroyChief
Financial Officer858-433-6839dmulroy@ljpc.com
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