{"id":3234,"date":"2013-11-21T16:12:35","date_gmt":"2013-11-21T16:12:35","guid":{"rendered":"\/?p=3234"},"modified":"2013-11-21T16:13:49","modified_gmt":"2013-11-21T16:13:49","slug":"la-jolla-pharmaceutical-co-otcbbljpc-crashes-after-massive-sale-of-stock","status":"publish","type":"post","link":"\/articles\/la-jolla-pharmaceutical-co-otcbbljpc-crashes-after-massive-sale-of-stock\/","title":{"rendered":"La Jolla Pharmaceutical Co. (OTCBB:LJPC) Crashes After Massive Sale of Stock"},"content":{"rendered":"<p> <img loading=\"lazy\" decoding=\"async\" style=\"float: right;\" src=\"http:\/\/www.hotstocked.com\/articles-img\/small\/0LJPCchart.png\" border=\"0\" alt=\"0LJPCchart.png\" title=\"0LJPCchart.png\" width=\"450\" height=\"201\" \/>The medical company La Jolla Pharmaceutical Co. (OTCBB:<a href=\"http:\/\/www.thehotpennystocks.com\/Stock-Quotes\/?stock=LJPC\">LJPC<\/a>) made a rather impressive surge up the chart at the start of October more than doubling its price in just 4 sessions. Although the stock fluctuated a lot it was still able to keep most of the gains and hovered around $0.18. Well, that is no more after the devastating drop that occurred during yesterday&#8217;s session. <\/p>\n<p><a href=\"http:\/\/www.thehotpennystocks.com\/Stock-Quotes\/?stock=LJPC\">LJPC<\/a> started plummeting right from the start and by the closing bell was sitting 27.5% lower at $0.12. Throughout the day 2.5 million shares or 5 times the average amount for the company got dumped on the market. For comparison the previous session saw only 128 thousand traded shares. A likely source for the majority of the shares may be the recently registered 142 million shares contained in the S-1 filing from November 8. <\/p>\n<p>On the same day <a href=\"http:\/\/www.thehotpennystocks.com\/Stock-Quotes\/?stock=LJPC\">LJPC<\/a> also filed their financial report for the quarter ending September 30. The company finished the period with:<\/p>\n<ul>\n<li>$10.7 million cash<\/li>\n<li>$10.78 million total current assets<\/li>\n<li>$577 thousand total current liabilities<\/li>\n<li>Zero Revenues<\/li>\n<li>$4.1 million net loss<\/li>\n<\/ul>\n<p>The lack of revenues and the considerable losses are not that surprising for a development stage medical company. <a href=\"http:\/\/www.thehotpennystocks.com\/Stock-Quotes\/?stock=LJPC\">LJPC<\/a> significantly improved their cash during the private placement of stock that happened on September 24. The company was able to get $10 million in fresh funds at the expense of nearly 50% dilution of their common stocks. With 12 billion authorized shares and around 360 million currently issued and outstanding investors should expect even more dilution in the future.<\/p>\n<p>For now <a href=\"http:\/\/www.thehotpennystocks.com\/Stock-Quotes\/?stock=LJPC\">LJPC<\/a> have enough funds to initiate the Phase I clinical trial for their <a href=\"http:\/\/www.thehotpennystocks.com\/Stock-Quotes\/?stock=LJPC\">LJPC<\/a>-501 and the Phase II clinical trial of GCS-100 in <img loading=\"lazy\" decoding=\"async\" style=\"float: right;\" src=\"http:\/\/www.hotstocked.com\/articles-img\/small\/NVGCchart4.png\" border=\"0\" alt=\"NVGCchart4.png\" title=\"NVGCchart4.png\" width=\"350\" height=\"156\" \/>chronic kidney disease.  Still they are nowhere near a completed product so be sure to plan your investments accordingly. <br \/>Yesterday the pump for Nevada Gold Corp. (OTCBB:<a href=\"http:\/\/www.thehotpennystocks.com\/Stock-Quotes\/?stock=NVGC\">NVGC<\/a>) pushed the stock even higher reaching $ 0.45 and in early trading today it is heading up to half a dollar. And at the start of the week we witnessed a rather rare sight when Liberator Medical Holdings, Inc. (NYSEMKT:<a href=\"http:\/\/www.thehotpennystocks.com\/Stock-Quotes\/?stock=LBMH\">LBMH<\/a>) managed to leave the pennystock world behind and move on to the NYSE national exchange.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The medical company La Jolla Pharmaceutical Co. (OTCBB:LJPC) made a rather impressive surge up the chart at the start of October more than doubling its price in just 4 sessions. Although the stock fluctuated&#46;&#46;&#46;<\/p>\n","protected":false},"author":4,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[782,1028,1112],"class_list":["post-3234","post","type-post","status-publish","format-standard","hentry","category-news","tag-lbmh","tag-ljpc","tag-nvgc"],"_links":{"self":[{"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/posts\/3234","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/comments?post=3234"}],"version-history":[{"count":0,"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/posts\/3234\/revisions"}],"wp:attachment":[{"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/media?parent=3234"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/categories?post=3234"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/tags?post=3234"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}