La Jolla Pharmaceutical Co (LJPC)

[Dante64]

LJPC exists over 25 years. They traded on Nasdaq till 2009.
In 2009 there Lupus drug failed for FDA and the pps felt that day (if i remember correct)80%. At that time they had 100 employees !!!

It was very quite after that period and a lot of employees were fired.

In 2010 they had an agreement with Gilmed.
They did an R/S of 1:100. in 2011. The reason for the R/S was to get out of the pennies and to attract partners or agreements.
Immediately after the R/S in april 2011 the pps felt down from $1 to pennies. I think that was were shorts took a position and brought the pps as were we are now.

Tuesday they announced that they reached a financial agreement. Why would that be?? Because they probabely have something. Do you think they would get a deal with nothing in their pocket???

What we saw the latest 2 days was most short covering. This was not retail.
Short know that with this deal, something might come that will burn their a**. Smart shorts will cover in the next days. Meantime retail will notice the spikes and consider to take a chance. This will cause a monster. If news hit ... we aint see nothing yet !

All my opinion.

LJPC