La Jolla Pharmaceutical Company Closes Offering of Common Stock
September 15 2015 - 4:11PM
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 closing of its
underwritten public offering of 2,932,500 shares of common stock at
a public offering price of $38.00 per share, which includes the
exercise of the underwriters’ option to purchase up to an
additional 382,500 shares of common stock. Gross offering proceeds
are approximately $111.4 million, including proceeds from the
exercise of the underwriters’ option to purchase additional shares,
before deducting customary underwriting discounts and commissions
and offering expenses.
La Jolla intends to use the net proceeds from the offering for
general corporate purposes, including funding its ongoing and
future clinical trials, and for general and administrative
expenses.
Jefferies LLC and Cowen and Company, LLC acted as joint
book-running managers for the offering. Chardan Capital Markets,
LLC, LifeSci Capital LLC and Noble Life Science Partners acted as
co-managers for the offering.
The securities described above were 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 (“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 was 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.
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.
View source
version on businesswire.com: http://www.businesswire.com/news/home/20150915006924/en/
La Jolla Pharmaceutical CompanyGeorge F. Tidmarsh, M.D.,
Ph.D.President & Chief Executive Officer(858)
207-4264gtidmarsh@ljpc.comandDennis M. MulroyChief Financial
Officer(858) 433-6839dmulroy@ljpc.com
La Jolla Pharmaceutical (NASDAQ:LJPC)
Historical Stock Chart
From Aug 2024 to Sep 2024
La Jolla Pharmaceutical (NASDAQ:LJPC)
Historical Stock Chart
From Sep 2023 to Sep 2024