Georgi Kamburov

La Jolla Pharmaceutical Co. (OTCBB:LJPC) Takes A Tumble

by Georgi Kamburov October 8, 2013

The first one is currently undergoing Phase II clinical trial and is geared towards patients with Chronic Kidney Disease while LJPC-501 will now begin a Phase I proof-of-concept clinical study in hepatorenal syndrome. In the second quarter of 2013 LJPC also managed to receive two Orphan Drug Designations from the FDA for LJPC-6417 and LJPC-0712. Their financial results for the period have also shown some improvement:
  • $1.8 million cash
  • $1.9 million total current assets
  • $308 thousand total current liabilities
  • ZERO revenue 
  • $3.1 million net loss
The company is not generating revenues due to the lack of a completed product but has managed to turn a negative working capital of $10 million from June 30, 2012 to a positive $1.6 million. And their cash position has been significantly boosted from the recent private placement. LJPC have a rather big authorized share count of 12 billion but for now they have 871 million shares outstanding on a fully diluted basis. 

Some email alerts were sent late in the afternoon from a couple of pumpers but none of them disclosed receiving any kind of compensation. LJPC are among the more stable pharmaceutical pennystock companies but that doesn't mean they are TTNPchart.pngwithout risk. Both products are in early development which leaves a lot of uncertainties for the future. That is why doing your due diligence is the best option before committing to anything.

Another medical company that recently caught the attention of the market is Biozone Pharmaceuticals, Inc. (OTCBB:BZNE). They finally managed to stem the bleeding of their stock and yesterday closed 3% up to $0.5. On the other hand Titan Pharmaceuticals, Inc. (OTCBB:TTNP) are doing much better and managed to break through the $1 mark and are now trading for $1.16 per share.

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