La Jolla Pharma Widens

(RTTNews) - La Jolla Pharmaceutical Co (LJPC) on Friday reported second-quarter net loss of $10.7 million or $0.70 per share compared with a loss of $4.3 million or $0.53 per share last year.

Analysts polled by Thomson Reuters estimated a loss of $0.61 per share for the quarter. Analysts' estimates typically exclude special items.

The company attributed the wider loss to mainly to costs associated with the initiation of a 3 trial of LJPC-501 in catecholamine-resistant hypotension, the Phase 2b clinical trial of GCS-100 in advanced chronic kidney disease, among other reasons.

As of June 30, La Jolla had $36 million in cash.