Followers | 559 |
Posts | 23793 |
Boards Moderated | 0 |
Alias Born | 03/06/2009 |
Wednesday, March 25, 2009 12:42:56 PM
This company is worthless. The company and it's stock crashed & burned for a reason. If you don't know, Here is that reason..........
SAN DIEGO, Feb 19, 2009 (BUSINESS WIRE) -- La Jolla Pharmaceutical Company (LJPC:
la jolla pharmaceutical co com new
News , chart , profile , more
Last: 0.15+0.03+23.33%
12:33pm 03/25/2009
Delayed quote data
Add to portfolio
Analyst
Create alert
Insider
Discuss
Financials
Sponsored by:
LJPC 0.15, +0.03, +23.3%) today announced that, following the negative results of the Riquent Phase 3 interim efficacy analysis, the Company is taking steps to reduce costs to preserve its remaining cash and other assets, including a substantial reduction in personnel and other operating expenses. In addition to working to maximize the value of the Company's cash and remaining assets, the Company is evaluating strategic options such as winding down the business or the sale of the Company.
"We are very disappointed that the Riquent(R) program was not successful," said Deirdre Y. Gillespie, M.D., President and CEO of La Jolla Pharmaceutical Company. "Following the receipt of the interim efficacy results, we have undertaken activities to rapidly reduce costs, paring down to the minimum necessary to carry out basic operations and address contractual obligations. Unfortunately, Riquent was our sole significant asset. The only other program in our research pipeline targeted SSAO inhibitors which are at an early preclinical stage and of minimum value."
SOURCE: La Jolla Pharmaceutical Company
Last Shot Hydration Drink Announced as Official Sponsor of Red River Athletic Conference • EQLB • Jun 20, 2024 2:38 PM
ATWEC Announces Major Acquisition and Lays Out Strategic Growth Plans • ATWT • Jun 20, 2024 7:09 AM
North Bay Resources Announces Composite Assays of 0.53 and 0.44 Troy Ounces per Ton Gold in Trenches B + C at Fran Gold, British Columbia • NBRI • Jun 18, 2024 9:18 AM
VAYK Assembling New Management Team for $64 Billion Domestic Market • VAYK • Jun 18, 2024 9:00 AM
Fifty 1 Labs, Inc Announces Acquisition of Drago Knives, LLC • CAFI • Jun 18, 2024 8:45 AM
Hydromer Announces Attainment of ISO 13485 Certification • HYDI • Jun 17, 2024 9:22 AM