Stock To Watch: La Jolla Pharma (LJPC)

(RTTNews) - Shares of La Jolla Pharmaceutical Co. (LJPC), which took a beating on November 25, 2019, plunging to $2.59, following the Company's decision to halt the development of LJPC-401, an investigational drug for iron overload in patients with beta-thalassemia, have since recovered all its losses. The stock is currently trading at $7.60, up 10.30%.

La Jolla Pharma is a revenue-generating biopharmaceutical company. The Company markets Giapreza, a drug to treat dangerously low blood pressure, which is approved both in the U.S. and E.U. The quarterly net sales of the drug since its launch have increased over time.

Early January, the Company forecast net sales of Giapreza in the fourth quarter of 2019 at $7.2 million compared to $5.7 million in the previous quarter and $4.2 million in the fourth quarter of 2018.

The financial results of the fourth quarter of 2019 are scheduled to be reported in the first week of March.

La Jolla Pharma is also developing LJPC-0118 in the proposed indication of severe malaria. The Company filed an NDA with the FDA for LJPC-0118 last November. The FDA has listed malaria as a disease qualifying for a tropical disease Priority Review Voucher.