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LA JOLLA PHARMACEUTICAL COMPANY COMPLETES STOCK OFFERING
SAN DIEGO, August 13, 2003 -- La Jolla Pharmaceutical Company
announced today that it has completed its previously announced
public offering of 8,150,000 shares of common stock. The net proceeds
to the Company, after expenses, from the sale of the shares will
be approximately $20.9 million. Pacific Growth Equities, LLC served
as the sole underwriter for the offering.
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 does not constitute an offer to sell or the
solicitation of an offer to buy any of the securities of La Jolla
Pharmaceutical Company, and there shall be no sale of these securities
in any state or jurisdiction in which such an offer, solicitation
or sale would be unlawful prior to registration or qualification
under the securities laws of any such state or 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.
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