La Jolla Pharmaceutical Company has reported a comprehensive net loss attributable to common stockholders of $3.74m, or $0.14 per share, for the second quarter ended on 30 June 2013 compared with $7.77m, or $0.67 per share in 2012.
Increase in the comprehensive net loss attributable to common stockholders in the second quarter of 2013 was primarily due to impact of the development of La Jolla's pipeline, including the Phase 1 and Phase 2 clinical trials of GCS-100 for CKD and preclinical costs for the development of LJPC-501.
Loss from operations for the second quarter of 2013 was $3.16m compared to $3.21m for the second quarter of 2012.
Comprehensive net loss attributable to common stockholders for the first half ended 30 June 2013 was $7.93m, or $0.35 per share, compared to a comprehensive net loss attributable to common stockholders of $2.49m, or $0.36 per share, for the first half ended 30 June 2012.
Loss from operations for the first half ended 30 June 2013 was $7.37m compared to $3.88m for the same period of 2012.
La Jolla's president and chief executive officer George Tidmarsh said several critical objectives were achieved in the second quarter of 2013, highlighted by the rapid completion of Phase I study of GCS-100 in chronic kidney disease ('CKD') patients.
"Furthermore, in the beginning of the 3rd quarter, we have started our Phase 2 clinical study of GCS-100, our IND for LJPC-501 for treatment of hepatorenal syndrome ('HRS') was accepted by the FDA, and we received our second Orphan Drug Designation, a designation for LJPC-0712 for treatment of Niemann-Pick type C ('NP-C') disease," Tidmarsh added.
