Exhibit 99.1
COMPANY CONTACT: MEDIA CONTACTS:
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Andrew Wiseman, Ph.D. Virginia Amann or Trista Morrison
Sr. Director of Business Development Atkins + Associates
La Jolla Pharmaceutical Company for La Jolla Pharmaceutical Company
858-646-6615 858-527-3490
andrew.wiseman@ljpc.com tmorrison@irpr.com
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LA JOLLA PHARMACEUTICAL TO PRESENT AT BIO CEO & INVESTOR CONFERENCE
SAN DIEGO, FEBRUARY 24, 2003 -- La Jolla Pharmaceutical Company (Nasdaq: LJPC)
announced today that Steven B. Engle, Chairman and CEO, will give a presentation
on Wednesday, February 26, at 2:00 p.m. Eastern Time at the Biotechnology
Industry Organization's BIO CEO & Investor Conference at The Waldorf=Astoria
Hotel in New York City. An audio webcast of the presentation will be available
through the Company's Web site http://www.ljpc.com and at
http://www.firstcallevents.com/service/ajwz375916087gf12.html.
La Jolla Pharmaceutical Company is a biotechnology company developing
therapeutics for antibody-mediated autoimmune diseases afflicting several
million people in the United States and Europe. The Company is developing
Riquent(TM) for the treatment of lupus kidney disease, a leading cause of
sickness and death in patients with lupus. The Company is also developing LJP
1082 for the treatment of antibody-mediated thrombosis, a condition in which
patients suffer from recurrent stroke, deep-vein thrombosis and other thrombotic
events. The Company's common stock is traded on The Nasdaq Stock Market under
the symbol LJPC. For more information about the Company, visit our Web site:
http://www.ljpc.com.
Except for historical statements, this press release contains forward-looking
statements involving significant risks and uncertainties, and a number of
factors, both foreseen and unforeseen, could cause actual results to differ
materially from our current expectations. Forward-looking statements include
those, which express a plan, belief, expectation, estimation, anticipation,
intent, contingency, future development or similar expression. Although we
expect to meet with the U.S. Food and Drug Administration ("FDA") to discuss the
results of our Phase III trial of Riquent(TM), there is no guarantee that a
meeting with the FDA can be held in a timely manner, or at all, or that our
meetings with them will result in us being able to continue to develop
Riquent(TM). Our analyses of clinical results of Riquent(TM), previously known
as LJP 394, our drug candidate for the treatment of systemic lupus erythematosus
("lupus"), and LJP 1082, our drug candidate for the treatment of
antibody-mediated thrombosis ("thrombosis"), are ongoing and could result in a
finding that these drug candidates are not effective in large patient
populations, do not provide a meaningful clinical benefit or may reveal a
potential safety issue requiring us to develop new candidates. Our blood test to
measure the binding affinity for Riquent(TM) is experimental, has not been
validated by independent laboratories, may require regulatory approval, and may
be necessary for the approval and the commercialization of Riquent(TM). Our
other potential drug candidates are at earlier stages of development and involve
comparable risks. Analysis of our clinical trials could have negative or
inconclusive results. Any positive results observed to date may not be
indicative of future results. In any event, the FDA may require additional
clinical trials, or may not approve our drugs. Our ability to develop and sell
our products in the future may be affected by the intellectual property rights
of third parties. Additional risk factors include the uncertainty of: obtaining
required regulatory approvals, including delays associated with any approvals
that we may obtain; FDA approval of our manufacturing facilities and processes;
the increase in capacity of our manufacturing capabilities for possible
commercialization; successfully marketing and selling our products; our lack of
manufacturing, marketing, and sales experience; generating future revenue from
product sales or other sources such as collaborative relationships; future
profitability; our need for additional financing; and our dependence on patents
and other proprietary rights. Readers are cautioned to not place undue reliance
upon forward-looking statements, which speak only as of the date hereof, and we
undertake no obligation to update forward-looking statements to reflect events
or circumstances occurring after the date hereof. Interested parties are urged
to review the risks described in our Registration Statement on Form S-3, filed
December 10, 2002, our Annual Report on Form 10-K for the year ended December
31, 2001, and in other reports and registration statements that we file with the
Securities and Exchange Commission from time to time.
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