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La Jolla Pharmaceutical reports 2Q loss

La Jolla Pharmaceutical Co. (Nasdaq: LJPC) reported Friday net loss for the three and six months ended June 30, 2014 was $4.3 million and $9.4 million, or $0.63 per share and $1.16 per share, respectively, compared to a net loss of $3.7 million and $7.9 million, or $6.77 per share and $17.57 per share, respectively, for the same periods in 2013.

The increase in comprehensive net loss attributable to common shareholders was primarily due to increases in research and development expenses related to the GCS-100 Phase 2 program in the treatment of chronic kidney disease, as well as preclinical work on LJPC-1010 and LJPC-401.

La Jolla Pharma also reported $3.9 million in cash revenues for the second quarter of 2014, compared to $8.6 million at end of the fourth quarter of 2013.

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