La Jolla Pharmaceutical Company (Nasdaq: LJPC) shares surged more than 30% to $5.13 in the early trading session today. A company is exclusively dedicated to developing and commercializing innovative therapies for patients suffering from life-threatening diseases.
The company with the Market Cap of 108.63M trades at a distance of 22.06% from its 20-day Simple Moving Average.
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Latest Developments
It was announced earlier today that La Jolla Pharmaceutical Company (Nasdaq: LJPC) and certain of its wholly-owned subsidiaries entered into an exclusive licensing agreement with PAION AG and its wholly owned subsidiary (PAION) to distribute its GIAPREZA and XERAVA in the European Economic Area, the United Kingdom, and Switzerland.
The exclusive licensing agreement stipulates that La Jolla will receive an upfront payment of $22.5 million; potential milestone payments of up to $109.5 million; and a double-digit tiered royalty payment based on the net sales of GIAPREZA and XERAVA. The La Jolla Company granted PAION an exclusive license to commercialize GIAPREZA and XERAVA in the Territories.
The European Commission approved GIAPREZA to treat refractory hypotension in adults with septic shock or other aseptic dispersions who do not get adequate volume restitution despite catecholamine treatment and other available vasopressor treatments.
A number of studies in both humans and animals have suggested that XERAVA may be a useful option for treating complicated intra-abdominal infections.
GIAPREZA
The U.S. Food and Drug Administration (FDA) has approved GIAPREZA (angiotensin II) for injection as a vasoconstrictor for adults with septic shock or other distributive shocks.
XERAVA
XERAVA (eravacycline) for injection is a revolutionary antibiotic developed by administering a novel tetracycline in the treatment of complicated intra-abdominal infections (cIAI).
Conclusion
It is possible that these biotechs’ clinical studies could fail. The companies can’t always rely on regulatory approvals for their drugs regardless of the testing results. They are two of the most significant risks associated with investing in biotech stocks. Besides, financial resources may run out before a company completes a clinical study, files a regulatory filing, or brings a new drug to market. The stock’s recent development suggests positive prospects for the near future at the very least.
