La Jolla shares whacked as analysts spotlight disappointing PhIII fine print
Last February, shares of La Jolla Pharmaceutical $LJPC rocketed up on the news that its lead drug hit its primary endpoint in Phase III. At the crack of dawn Monday morning, though, the stock slid down 13% after investors and analysts examined the fine print and pondered the drug’s commercial prospects.
As we already knew, 70% of the patients with catecholamine resistant hypotension taking LJPC-501 responded with a significant increase in mean arterial pressure, compared to 23% in the placebo arm. Another positive: There was a significant drop in the use of catecholamine, which is associated with serious side effects.
Unlock this article instantly by becoming a free subscriber.
You’ll get access to free articles each month, plus you can customize what newsletters get delivered to your inbox each week, including breaking news.