Life Sciences, Biotech, Lupus
La Jolla Pharmaceutical Gets Delisting Notice
Juha-Pekka Tikka 4/9/09
San Diego-based La Jolla Pharmaceutical (NASDAQ: LJPC) said today it received a Nasdaq delisting warning that says the company is not in compliance with the Nasdaq rule requiring at least $10 million in stockholders’ equity. La Jolla Pharmaceutical’s 2008 annual report also includes a “going concern” notice from its auditor that questions the company’s ability to continue as a viable business. In February, the company said it’s looking to sell or wind down its business after its Riquent lupus drug Phase 3 trials failed.
