San Diego Business Journal

La Jolla Pharmaceutical Co. Closes Common Stock Offering

By Brittany Meiling Tuesday, July 29, 2014

La Jolla Pharmaceutical Co., a therapeutics company focused on unmet life-threatening diseases, announced the closing of its underwritten $56.6 million public offering.

La Jolla's (NASDAQ: LJPC) public offering includes 5,395,000 shares of common stock sold at $10.50 per share, as well as the partial exercise of the underwriters’ option to purchase up to an additional 720,000 shares of common stock.

La Jolla intends to use the net proceeds from the offering for general corporate purposes, including funding its current and future clinical trials and for general and administrative expenses.