La Jolla Pharm reports Q3 EPS of ($1.93) vs ($2.01) consensus; revs +118.8% y/y to $3.5 mln vs $3.4 mln consensus; expects to have sufficient cash to fund ops at least into 2H 2020
SAN DIEGO (AP) _ La Jolla Pharmaceutical Co. (LJPC) on Wednesday reported a loss of $50.7 million in its third quarter.
The San Diego-based company said it had a loss of $1.93 per share.
The results beat Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for a loss of $2.01 per share.
The drugmaker posted revenue of $3.5 million in the period, which also topped Street forecasts. Four analysts surveyed by Zacks expected $3.4 million.
La Jolla Pharmaceutical shares have fallen 53 percent since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $15.23, a drop of 54 percent in the last 12 months.
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