La Jolla Pharmaceutical Company Receives Notice of Noncompliance with Nasdaq Stock Market Listing Requirement

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La Jolla Pharmaceutical Company to Seek Stockholder Approval of Dissolution

SAN DIEGO--(BUSINESS WIRE)--La Jolla Pharmaceutical Company (NASDAQ:LJPC - News) today announced that it has called a special meeting of stockholders for October 30, 2009 for the purpose of voting on a Plan of Complete Liquidation and Dissolution. If approved, the Company would expect to dissolve shortly after the stockholders’ meeting and then commence a liquidation process through which the Company expects that it would satisfy remaining creditor obligations and distribute any remaining cash once the dissolution is complete. As of August 31, 2009, the Company had cash, net of liabilities and obligations, of approximately $4.4 million. After projected operating and shut down costs, the Company projects that there will be between $0.028 and $0.045 per share available for distribution to holders of the approximately 66 million shares of common stock issued and outstanding. Included in the cash balance as of August 31, 2009 were the proceeds from the Company’s sale of the SSAO assets. As of that same date, the Company had written down the value of the Riquent program and related assets to zero and expects that the Riquent patents will lapse as a result of the Company’s decision to cease all ongoing patent maintenance activities and related expenditures. As a result of these actions, the Company has no ongoing research programs.While the Company is seeking stockholder approval for the...
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LA JOLLA PHARMACEUTICAL CO Files SEC form 8-K, Entry into a Material Definitive Agreement, Other Events

Show all filings for LA JOLLA PHARMACEUTICAL CO | Request a Trial to NEW EDGAR Online Pro Form 8-K for LA JOLLA PHARMACEUTICAL CO 22-Sep-2009Entry into a Material Definitive Agreement, Other Events Copyright © 2009 Yahoo! Inc. All rights reserved. Privacy Policy - Terms of Service - Copyright/IP Policy - Send Feedback SEC Filing data and information provided by EDGAR Online, Inc. (1-800-416-6651). All information provided "as ...
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LA JOLLA PHARMACEUTICAL CO Files SEC form 8-K/A, Termination of a Material Definitive Agreement, Other Events

Show all filings for LA JOLLA PHARMACEUTICAL CO | Request a Trial to NEW EDGAR Online Pro Form 8-K/A for LA JOLLA PHARMACEUTICAL CO 22-Sep-2009Termination of a Material Definitive Agreement, Other Events Copyright © 2009 Yahoo! Inc. All rights reserved. Privacy Policy - Terms of Service - Copyright/IP Policy - Send Feedback SEC Filing data and information provided by EDGAR Online, Inc. (1-800-416-6651). All information provid...
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LA JOLLA PHARMACEUTICAL CO Files SEC form 8-K, Notice of Delisting or Failure to Satisfy a Continued Listing Rule or

Show all filings for LA JOLLA PHARMACEUTICAL CO | Request a Trial to NEW EDGAR Online Pro Form 8-K for LA JOLLA PHARMACEUTICAL CO 18-Sep-2009Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Copyright © 2009 Yahoo! Inc. All rights reserved. Privacy Policy - Terms of Service - Copyright/IP Policy - Send Feedback SEC Filing data and information provided by EDGAR Online, Inc. (1-800-416-6651). All information...
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La Jolla Pharmaceutical Company Announces the Adjournment of Special Meeting of Stockholders

SAN DIEGO--(BUSINESS WIRE)--La Jolla Pharmaceutical Company (NASDAQ: LJPC - NewsCompany”) today announced that its Special Meeting of Stockholders, which was convened on October 30, 2009, was adjourned to November 6, 2009 at 11:00 a.m., local time, at 4225 Executive Square, Suite 495, La Jolla, California. As described in the Proxy Statement distributed to stockholders on or about October 7, 2009, the stockholders of the Company are being asked to vote upon a proposal to approve the liquidation and dissolution of the Company pursuant to a plan of liquidation and dissolution. Approximately ninety-three percent (93%) of the Company’s stockholders failed to return their proxy cards or otherwise indicate their votes with respect to this proposal prior to the start of the stockholders meeting. To pass, this proposal must be approved by holders of at least a majority of the Company’s outstanding voting shares, and as a result, abstentions and broker non-votes have the same effect as votes against the proposal. Stockholders who have not voted on the proposals described in the Proxy Statement are encouraged to do so promptly. For stockholders who have already voted on the proposals, no additional action is necessary if you do not wish to change your vote. Proxies may be submitted or revoked at any time prior to the reconvening of the adjourned meeting on November 6, 2009. For assi...
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La Jolla Pharmaceutical Company Announces the Adjournment of Special Meeting of Stockholders

SAN DIEGO--(BUSINESS WIRE)--La Jolla Pharmaceutical Company (NASDAQ: LJPC - NewsCompany”) today announced that its Special Meeting of Stockholders, which was originally convened on October 30, 2009 and reconvened on November 6, 2009 and November 13, 2009, was adjourned to November 24, 2009 at 11:00 a.m., local time, at 4365 Executive Drive, Suite 300, San Diego, California. As described in the Proxy Statement distributed to stockholders on or about October 7, 2009, the stockholders of the Company are being asked to vote upon a proposal to approve the liquidation and dissolution of the Company pursuant to a plan of liquidation and dissolution. Approximately ninety-two percent (92%) of the Company’s stockholders failed to return their proxy cards or otherwise indicate their votes with respect to this proposal prior to the start of the stockholders’ meeting. To pass, this proposal must be approved by holders of at least a majority of the Company’s outstanding voting shares and, as a result, abstentions and broker non-votes have the same effect as votes against the proposal. Stockholders who have not voted on the proposals described in the Proxy Statement are encouraged to do so promptly. For stockholders who have already voted on the proposals, no additional action is necessary if you do not wish to change your vote. Proxies may be submitted or revoked at any time prio...
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LA JOLLA PHARMACEUTICAL CO Files SEC form 10-Q, Quarterly Report

ITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS Forward-Looking Statements The forward-looking statements in this report involve significant risks, assumptions and uncertainties, and a number of factors, both foreseen and unforeseen, could cause actual results to differ materially from our current expectations. Forward-looking statements include those that express a plan, belief, expectation, estimation, anticipation, intent, contingency, future development or similar expression. The analysis of the data from our Phase 3 ASPEN trial of Riquent showed that the trial did not reach statistical significance with respect to its primary endpoint, delaying time to renal flare or for either secondary endpoint, improvement in proteinuria or time to major SLE flare and we decided to stop the study as well as the further development of Riquent. Accordingly, you should not rely upon forward-looking statements as predictions of future events. The outcome of the events described in these forward-looking statements are subject to the risks, uncertainties and other factors described in "Management's Discussion and Analysis of Financial Condition and Results of Operations" and in the "Risk Factors" contained in our Annual Report on Form 10-K for the year ended December 31, 2008, and in other reports and registration statements that we file with the Securities and Exchange Commission from time to time and as updated in Part II, Item 1.A. "Risk Factors" contained in this Quarterly Report on Form 10-Q. We expressly disclaim any intent to update forward-looking statements. Overview and Recent Developments Since our inception in May 1989, we have devoted substantially all of our resources to the research and development of technology and potential drugs to treat antibody-mediated diseases. We have never generated any revenue from product sales and have relied on public and private offerings of securities, revenue from col...
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La Jolla Pharmaceutical Company Announces the Adjournment of Special Meeting of Stockholders

SAN DIEGO--(BUSINESS WIRE)--La Jolla Pharmaceutical Company (NASDAQ: LJPC - NewsCompany”) today announced that its Special Meeting of Stockholders, which was originally convened on October 30, 2009 and reconvened on November 6, 2009, was adjourned to November 13, 2009 at 11:00 a.m., local time, at 4370 La Jolla Village Drive, Suite 800, San Diego, California. As described in the Proxy Statement distributed to stockholders on or about October 7, 2009, the stockholders of the Company are being asked to vote upon a proposal to approve the liquidation and dissolution of the Company pursuant to a plan of liquidation and dissolution. Approximately ninety-three percent (93%) of the Company’s stockholders failed to return their proxy cards or otherwise indicate their votes with respect to this proposal prior to the start of the stockholders' meeting. To pass, this proposal must be approved by holders of at least a majority of the Company’s outstanding voting shares, and as a result, abstentions and broker non-votes have the same effect as votes against the proposal. Stockholders who have not voted on the proposals described in the Proxy Statement are encouraged to do so promptly. For stockholders who have already voted on the proposals, no additional action is necessary if you do not wish to change your vote. Proxies may be submitted or revoked at any time prior to the reconvening of the...
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