La Jolla Pharmaceutical Company Announces Proposed Underwritten Public Offering of Common Stock
March 20 2017 - 4:01PM
Business Wire
La Jolla Pharmaceutical Company (Nasdaq: LJPC) (“La Jolla” or
the “Company), a leader in the development of innovative therapies
intended to significantly improve outcomes in patients suffering
from life-threatening diseases, today announced its intention to
offer and sell $100,000,000 of its common stock in an underwritten
public offering pursuant to its existing shelf registration
statement. All of the shares to be sold in the proposed public
offering are being offered by La Jolla.
J.P. Morgan Securities LLC and Cowen and Company, LLC are acting
as joint book-running managers for the offering. La Jolla intends
to grant the underwriters a 30-day option to purchase additional
shares of its common stock. The offering is subject to market
conditions, and there can be no assurance as to whether or when the
offering may be completed, or the actual size or terms of the
offering.
La Jolla intends to use the net proceeds from the underwritten
offering for general corporate purposes, including funding its
ongoing and future clinical trials of its drug candidates, for
expenses relating to the potential regulatory approval of LJPC-501,
potential future acquisitions and for general and administrative
expenses.
The securities described above are being offered pursuant to a
shelf registration statement (File No. 333-214721), including a
base prospectus, which was declared effective by the United States
Securities and Exchange Commission (the “SEC”) on December 8, 2016.
The specific terms of the offering are described in a prospectus
supplement to be filed with the SEC in connection with the
offering. 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 J.P.
Morgan Securities LLC c/o Broadridge Financial Solutions, 1155 Long
Island Ave, Edgewood, NY 11717, (tel: +1 866 803 9204) or Cowen and
Company, LLC, c/o Broadridge Financial Services, 1155 Long Island
Avenue, Edgewood, NY 11717, Attn: Prospectus Department, or by
calling 631-274-2806, or by faxing 631-254-7140.
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.
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 synthetic human angiotensin II for the
potential treatment of catecholamine resistant hypotension.
LJPC-401 is La Jolla’s proprietary formulation of synthetic human
hepcidin for the potential treatment of conditions characterized by
iron overload, such as hereditary hemochromatosis, beta
thalassemia, sickle cell disease and myelodysplastic syndrome.
LJPC-30S is La Jolla’s next-generation gentamicin derivative
program that is focused on the potential treatment of serious
bacterial infections as well as rare genetic disorders, such as
cystic fibrosis and Duchenne muscular dystrophy.
Forward Looking Statements
This press release contains “forward-looking” statements within
the meaning of the Private Securities Litigation Reform Act of
1995. These forward-looking statements are based on our current
expectations and beliefs, speak only as of the date of this press
release and involve risks and uncertainties, many of which are
outside of our control, that can cause actual results to differ
materially from those anticipated in the forward-looking
statements. Potential risks and uncertainties include, but are not
limited to: the uncertainties related to market conditions, the
timing and size of the public offering and the completion of the
public offering on the anticipated terms or at all, the intended
use of the net proceeds raised during the public offering, and the
expected duration of the Company’s operating runway based on
current cash resources. Further information regarding these and
other risks that could affect our future results of operations are
included in La Jolla’s most recently filed Annual Report on Form
10-K and subsequent Quarterly Reports on Form 10-Q under the
caption “Risk Factors,” as filed with the U.S. Securities and
Exchange Commission at www.sec.gov. We disclaim any intent to
update any forward-looking statements to reflect actual events that
occur after the date of this press release.
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version on businesswire.com: http://www.businesswire.com/news/home/20170320006185/en/
La Jolla Pharmaceutical CompanySandra VedrickAssociate Director,
Investor Relations & Human
Resources858-256-7910svedrick@ljpc.comandDennis M. MulroyChief
Financial Officer858-433-6839dmulroy@ljpc.com
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