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LA JOLLA PHARMACEUTICAL COMPANY ANNOUNCES PRICING OF PUBLIC
OFFERING OF COMMON STOCK
SAN DIEGO, CA, January 28, 2005 – La Jolla Pharmaceutical
Company announced today that it has agreed to sell 12,250,000
shares of its common stock in an underwritten public offering.
Pursuant to the terms of the underwriting agreement, the shares
will be offered to the public at a price per share of $1.40. All
of the shares are being offered by the Company.
Pacific Growth Equities, LLC is acting as underwriter for the
offering. A copy of the prospectus supplement and accompanying
prospectus related to the offering can be obtained from Pacific
Growth Equities, LLC at One Bush Street, Suite 1700, San Francisco,
CA 94104. A shelf registration statement relating to the shares
that the Company has agreed to sell has previously been filed
with, and declared effective by, the Securities and Exchange Commission.
La Jolla Pharmaceutical Company is a biotechnology company developing
therapeutics for antibody-mediated autoimmune diseases including
lupus.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy, nor shall there be any sale of
these securities in any jurisdiction in which such offer, solicitation
or sale would be unlawful prior to registration or qualification
under the securities laws of any such jurisdiction.
This press release contains forward-looking statements within
the meaning of the Private Securities Litigation Reform Act of
1995. Such statements involve known and unknown risks, uncertainties
and other factors that may cause actual results to differ materially
from current expectations. The prospectus and prospectus supplement
contain important information, and potential investors are urged
to read these documents and other relevant documents filed with
the Securities and Exchange Commission.
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