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La Jolla Pharmaceutical Company Analyst Initiation of Coverage: Steer Clear of this Company with a History of Failure by BrokerBank Securities, Inc.

NEW YORK, July 17, 2014 /PRNewswire/ -- La Jolla Pharmaceutical Company (NASDAQ: LJPC) is a biopharmaceutical company focused on the development of therapeutic agents that inhibit the activity of galectins as a means of treating human diseases such as chronic organ failure and cancer. The company's main product candidates include GCS-100 for the treatment of chronic kidney disease (CKD), LJPC-501 that is designed to help restore kidney function in patients with hepatorenal syndrome (HRS), and LJPC-401 for the treatment of iron disorders. In addition, LJPC is also developing LJPC-1010, which is an oral derivative of GCS-100 for the treatment of non-alcoholic steatohepatitis (NASH). Further, LJPC is also engaged in pre-clinical testing for LJPC-201 for hepatic fibrosis and LJPC-101 for end-stage renal disease (ESRD).

In January 2014, the Decision Resources Group (DRG) -- a subsidiary of Piramal Enterprises offering information and insights on important sectors of the healthcare industry -- estimated that the total chronic kidney disease (CKD) market was worth around $11 billion in 2012. However, DRG only sees that market growing another $700 million by 2022 due to generic and biosimilar competition in the G7 markets and changes in reimbursement practices in the US. Nevertheless, LJPC believes it can capture a significant portion of the market with their GCS-100 drug candidate given that nearly 49 million adults in the United States suffered from CKD resulting in close to 89,000 deaths in 2010, while close to 550,000 were treated for end-stage renal disease (ESRD).

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BrokerBank Securities, Inc. is a member of the Financial Industry Regulatory Authority, CRD number #130116.

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Date:Jul 17, 2014
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