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LA JOLLA PHARMACEUTICAL COMPANY
ANNOUNCES EXERCISE OF OVER-ALLOTMENT OPTION
SAN DIEGO, March 5, 2004 – La Jolla Pharmaceutical Company
announced today that the underwriter for its recently completed
public offering of shares of common stock has purchased an additional
1,304,347 shares at the initial offering price per share pursuant
to the over-allotment option granted to the underwriter in connection
with the offering. The aggregate net proceeds to the Company from
the offering, including the proceeds from the over-allotment shares,
were approximately $29.5 million. Pacific Growth Equities, LLC
served as the sole underwriter for the transaction.
La Jolla Pharmaceutical Company is a biotechnology company developing
therapeutics for antibody-mediated autoimmune diseases afflicting
several million people in the United States and Europe.
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.
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