Georgi Kamburov

La Jolla Pharmaceutical Co. (OTCBB:LJPC) Crashes After Massive Sale of Stock

by Georgi Kamburov November 21, 2013

On the same day LJPC also filed their financial report for the quarter ending September 30. The company finished the period with:

  • $10.7 million cash
  • $10.78 million total current assets
  • $577 thousand total current liabilities
  • Zero Revenues
  • $4.1 million net loss

The lack of revenues and the considerable losses are not that surprising for a development stage medical company. LJPC significantly improved their cash during the private placement of stock that happened on September 24. The company was able to get $10 million in fresh funds at the expense of nearly 50% dilution of their common stocks. With 12 billion authorized shares and around 360 million currently issued and outstanding investors should expect even more dilution in the future.

For now LJPC have enough funds to initiate the Phase I clinical trial for their LJPC-501 and the Phase II clinical trial of GCS-100 in NVGCchart4.pngchronic kidney disease. Still they are nowhere near a completed product so be sure to plan your investments accordingly.
Yesterday the pump for Nevada Gold Corp. (OTCBB:NVGC) pushed the stock even higher reaching $ 0.45 and in early trading today it is heading up to half a dollar. And at the start of the week we witnessed a rather rare sight when Liberator Medical Holdings, Inc. (NYSEMKT:LBMH) managed to leave the pennystock world behind and move on to the NYSE national exchange.

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