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LA JOLLA PHARMACEUTICAL COMPANY ANNOUNCES PRICING OF
PUBLIC OFFERING OF COMMON STOCK
SAN DIEGO, CA, January 28, 2005 – La Jolla Pharmaceutical Company announced
today that it has agreed to sell 12,250,000 shares of its common stock in an
underwritten public offering. Pursuant to the terms of the underwriting
agreement, the shares will be offered to the public at a price per share of
$1.40. All of the shares are being offered by the Company.
Pacific Growth Equities, LLC is acting as underwriter for the offering. A
copy of the prospectus supplement and accompanying prospectus related to the
offering can be obtained from Pacific Growth Equities, LLC at One Bush
Street, Suite 1700, San Francisco, CA 94104. A shelf registration statement
relating to the shares that the Company has agreed to sell has previously
been filed with, and declared effective by, the Securities and Exchange
Commission.
La Jolla Pharmaceutical Company is a biotechnology company developing
therapeutics for antibody-mediated autoimmune diseases including lupus.
This press release shall not constitute an offer to sell
or the solicitation of an offer to buy, nor shall there be any sale of these
securities in any jurisdiction in which such offer, solicitation or sale
would be unlawful prior to registration or qualification under the
securities laws of any such 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. The prospectus and prospectus supplement contain important
information, and potential investors are urged to read these documents and
other relevant documents filed with the Securities and Exchange Commission.
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