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La Jolla Pharmaceutical (LJPC)

La Jolla Pharmaceutical Company is dedicated to the development and commercialization of innovative therapies that improve outcomes in patients suffering from life-threatening diseases. In December 2017, GIAPREZA™ (angiotensin II) was approved by the U.S. Food and Drug Administration (FDA) as a vasoconstrictor indicated to increase blood pressure in adults with septic or other distributive shock. In August 2019, GIAPREZA was approved by the European Commission (EC) for the treatment of refractory hypotension in adults with septic or other distributive shock who remain hypotensive despite adequate volume restitution and application of catecholamines and other available vasopressor therapies. LJPC-0118 (artesunate) is La Jolla's investigational product for the treatment of severe malaria.

Company profile

Ticker
LJPC
Exchange
CEO
Larry Edwards
Employees
Incorporated
Location
Fiscal year end
SEC CIK
Subsidiaries
La Jolla Pharma, LLC • Tetraphase Pharmaceuticals, Inc. • La Jolla Pharmaceutical Holdings, LLC • Tetraphase Pharma Securities, Inc. • La Jolla Pharmaceutical Australia Pty Ltd • La Jolla Pharmaceutical I B.V. • La Jolla Pharmaceutical II B.V. • La Jolla Pharmaceutical III B.V. • Tetraphase Ireland Limited ...
IRS number
330361285

LJPC stock data

Investment data

Data from SEC filings
Securities sold
Number of investors

Calendar

16 May 22
2 Jul 22
31 Dec 22
Quarter (USD) Mar 22 Dec 21 Sep 21 Jun 21
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Annual (USD) Dec 21 Dec 20 Dec 19 Dec 18
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Cash burn rate (est.) Burn method: Change in cash Burn method: Operating income Burn method: FCF (opex + capex)
Last Q Avg 4Q Last Q Avg 4Q Last Q Avg 4Q
Cash on hand (at last report) 44.21M 44.21M 44.21M 44.21M 44.21M 44.21M
Cash burn (monthly) 833K (no burn) 682K (no burn) (no burn) (no burn)
Cash used (since last report) 2.55M n/a 2.09M n/a n/a n/a
Cash remaining 41.66M n/a 42.12M n/a n/a n/a
Runway (months of cash) 50.0 n/a 61.8 n/a n/a n/a

Beta Read what these cash burn values mean

Date Owner Security Transaction Code Indirect 10b5-1 $Price #Shares $Value #Remaining
15 Jun 22 Michael S Hearne Common Stock Grant Acquire A No No 2.72 236 641.92 9,950
15 Jun 22 Michael S Hearne Employee Stock Option Common Stock Grant Acquire A No No 3.2 236 755.2 236
31 May 22 Michael S Hearne Common Stock Grant Acquire A No No 3.4085 189 644.21 9,714
31 May 22 Michael S Hearne Employee Stock Option Common Stock Grant Acquire A No No 4.01 189 757.89 189
13 May 22 Michael S Hearne Common Stock Grant Acquire A No No 3.4085 188 640.8 9,525
13 May 22 Michael S Hearne Employee Stock Option Common Stock Grant Acquire A No No 4.01 188 753.88 188
29 Apr 22 Michael S Hearne Common Stock Grant Acquire A No No 3.468 185 641.58 9,337
29 Apr 22 Michael S Hearne Employee Stock Option Common Stock Grant Acquire A No No 4.08 185 754.8 185
14 Apr 22 Michael S Hearne Common Stock Grant Acquire A No No 3.7145 173 642.61 9,152
14 Apr 22 Michael S Hearne Employee Stock Option Common Stock Grant Acquire A No No 4.37 173 756.01 173
13F holders Current Prev Q Change
Total holders 45 44 +2.3%
Opened positions 5 4 +25.0%
Closed positions 4 15 -73.3%
Increased positions 6 14 -57.1%
Reduced positions 23 17 +35.3%
13F shares Current Prev Q Change
Total value 104.93M 255.09M -58.9%
Total shares 26.1M 26.34M -0.9%
Total puts 0 10.9K EXIT
Total calls 22.6K 20.1K +12.4%
Total put/call ratio 0.5
Largest owners Shares Value Change
Tang Capital Partners 9.61M $34.49M 0.0%
Tang Capital Management 9.61M $41.03M 0.0%
RTW Investments 2.33M $9.94M -0.0%
Vanguard 825.48K $3.53M -0.5%
HealthInvest Partners AB 707K $3.02M -14.8%
D. E. Shaw & Co. 600.07K $2.56M +1.9%
Acadian Asset Management 477.69K $2.04M +9.7%
BLK Blackrock 426.51K $1.82M -0.5%
Tang Kevin C 240K $1.03M 0.0%
Geode Capital Management 202.82K $866K -28.6%
Largest transactions Shares Bought/sold Change
HealthInvest Partners AB 707K -123K -14.8%
FMR 90.44K +90.44K NEW
Geode Capital Management 202.82K -81.05K -28.6%
Two Sigma Investments 27.54K -60.63K -68.8%
Acadian Asset Management 477.69K +42.3K +9.7%
First Midwest Bank Trust Division 0 -41.73K EXIT
O'shaughnessy Asset Management 33.63K +33.63K NEW
BNP Paribas Arbitrage 1 -30.73K -100.0%
Two Sigma Advisers 34.9K -25.44K -42.2%
MS Morgan Stanley 44.07K -23.61K -34.9%

Financial report summary

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Risks
  • The commercial success of GIAPREZA and XERAVA will depend on our ability to obtain an uninterrupted supply of GIAPREZA and XERAVA from our contract manufacturers.
  • Product liability or other lawsuits against us could cause us to incur substantial liabilities and reduce GIAPREZA and XERAVA sales.
  • Our ability to continue commercializing GIAPREZA is dependent on our fulfillment of contractual obligations under the royalty financing agreement with HealthCare Royalty Partners.
  • The commercial success of GIAPREZA and XERAVA in certain ex-U.S. territories is dependent on the fulfillment of contractual obligations under the Company’s out-license agreements.
  • Our overall financial performance, including but not limited to, net product sales and net cash used for or provided by operating activities, may not meet our expectations.
  • Our capital requirements and our potential need for, and ability to obtain, additional financing are uncertain.
  • Future utilization of net operating loss carryforwards or research and development credit carryforwards may be impaired due to changes in ownership.
  • Our ability to hire and retain key employees is uncertain.
  • Our employees may engage in misconduct, including noncompliance with regulatory standards and requirements, which could have a material adverse effect on our business.
  • Failure to obtain regulatory approval in international jurisdictions would prevent our products, our product candidates or any other products the Company or its current or future out-licensees may develop from being marketed abroad.
  • We may not be successful in our efforts to out-license our product candidates.
  • GIAPREZA’s and XERAVA’s market exclusivity periods will depend on the validity and enforceability of issued and pending patents covering GIAPREZA and XERAVA.
  • If we fail to comply with our obligations under our in-license agreements, we may lose rights to critical patents that are important to the commercialization and net sales potential of GIAPREZA and XERAVA.
  • If our products or our product candidates infringe the rights of others, we could be subject to expensive litigation, become liable for substantial damages, be required to obtain licenses from others or be prohibited from selling our products or product candidates altogether.
  • Patent policy and rule changes could increase the uncertainties and costs surrounding the prosecution of our patent applications and the enforcement or defense of our issued patents.
  • We are subject to various federal, state and foreign laws and regulations governing the health care industry that could result in substantial penalties for noncompliance.
  • Drugs approved by the FDA, EC and/or other regulatory agencies are subject to ongoing regulation.
  • Business interruptions resulting from geopolitical actions, natural disasters, public health crises or other catastrophic events could have an adverse impact on our business.
  • The price per share of our common stock may fluctuate significantly, and you may lose all or part of your investment.
  • We have never paid a dividend on shares of our common stock, and you should rely on price appreciation of shares of our common stock for return on your investment.
  • Conversion of our convertible preferred stock would result in substantial dilution for our existing common stockholders.
  • Our directors, executive officers and principal stockholders have substantial control over the Company, which could limit your ability to influence the outcome of key transactions, including a change of control.
  • Our business and operations may be materially adversely affected in the event of computer system failures or security breaches.
Management Discussion
  • Net product sales consist of revenue recognized from sales of GIAPREZA and XERAVA to hospitals and other healthcare organizations in the U.S., generally through a network of specialty distributors. These specialty distributors are considered our customers for accounting purposes.
  • For the three months ended March 31, 2022, La Jolla’s net product sales were $10.4 million compared to $8.6 million for the same period in 2021, an increase of 21%. GIAPREZA U.S. net product sales were $7.7 million for the three months ended March 31, 2022 compared to $6.8 million for the same period in 2021, an increase of 13%. XERAVA U.S. net product sales were $2.7 million for the three months ended March 31, 2022 compared to $1.8 million for the same period in 2021, an increase of 50%. The increase in GIAPREZA and XERAVA U.S. net product sales is primarily due to an increase in the number of vials sold to our customers.
  • License and other revenue consists of revenue from out-license agreements with counterparties to develop and/or commercialize our products in territories outside of the U.S. in exchange for: (i) nonrefundable, upfront license fees; (ii) development, regulatory or commercial milestone payments; and/or (iii) sales-based royalties. License and other revenue also consists of revenue from commercial supply agreements with our out-licensees to supply a minimum quantity of our products in territories outside the U.S. in exchange for: (i) nonrefundable, upfront fees; and/or (ii) the reimbursement of manufacturing costs, plus a margin in certain cases.

Content analysis

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Positive
Negative
Uncertain
Constraining
Legalese
Litigous
Readability
H.S. freshman Avg
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