A drug from La Jolla Pharmaceutical Co. has received orphan status from the U.S. Food and Drug Administration, the company announced.

The public company, which is trading at 6 cents a share and has a market capitalization of about $2 million, is developing a treatment for a genetic neurological disorder called Niemann-Pick type C disease.

The company recently received orphan drug status for its drug, called galectin-3, that treats chronic organ failure and cancer,

“Having received a second orphan designation from FDA, our team continues to build La Jolla into a leader in the development of treatments for life-threatening diseases,” said George Tidmarsh, president and CEO of La Jolla Pharmaceutical. “We remain dedicated to developing novel treatments to help those suffering with unmet debilitating and fatal diseases.”

— SDBJ Staff Report