Here's Why La Jolla Pharmaceutical Shares Are Surging 12.5% Higher Today
La Jolla Pharmaceutical (NASDAQ: LJPC) shares surged by 12.5% as of 12 p.m. EST Friday after the FDA approved the company's first commercial drug.
Earlier this year, La Jolla Pharmaceutical reported positive phase 3 results data for Giapreza (formerly LJPC-501), a medicine that can help patients suffering from a life-threatening drop in blood pressure. Management filed for FDA approval shortly thereafter, but a decision from the regulator wasn't expected until Feb. 28, 2018.
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Source: Fool.com