Only reason LJPC got attention was the Unique name Bakers Bros.
The genius and wise brothers chose a .07 cents stock ?
Why will they do that ? I asked myself and I found answer in myself.
May be they thought LJPC trial can be a breakthrough and it has potential.
What if they are wrong ? My answer is No one is perfect except Almighty .
It is also true that God created every human being mind unique and special
And it is possible if Baker brothers have so much success in biotech stocks , it is for two reasons , one is they are very intelligent and second is God has his grace on them .
Now don not think I am bringing Almighty in biotech stocks, It's my personal belief and I think
I chose to invest my Roth IRA 's 10% portfolio which is speculative money in it.
By investing speculative money aka Vegas money , I am not worried for near term ups and down since I will be waiting for March 2014 Phase 2 results.
It can go back to zero or it can go to one dollar or more, I have no particular target .
About Chronic Kidney Disease
Chronic kidney disease ("CKD") currently affects 14% of Americans or approximately 49 million people. The United States Renal Data System, 2012 Annual Data Report, states that in 2010, costs for CKD reached $41 billion for Medicare alone. Overall per person per year costs for CKD were estimated at $22,323 for Medicare patients of age 65 and older and $13,395 for patients of age 50-64. Patients with CKD may progress to end-stage renal disease ("ESRD"). According to the National Institute of Diabetes and Digestive and Kidney Diseases as of 2008, there were 547,982 individuals in the US under treatment for ESRD and 88,630 deaths per year from ESRD.
Granted Orphan Drug Designation by the FDA for LJPC-6417 (April 18, 2013)
Filed IND for LJPC-501 in hepatorenal syndrome with FDA (June 4, 2013)
Achieved positive results in the Phase 1 trial with GCS-100 in CKD (June 6, 2013)
Received acceptance from the FDA of the IND for LJPC-501 in HRS (July 2, 2013)
Initiated Phase 2 clinical trial of GCS-100 for the treatment of CKD (July 8, 2013)
Granted Orphan Drug Designation by the FDA for LJPC-0712 in NP-C (July 17, 2013)
GCS-100 is a complex polysaccharide derived from pectin that binds to, and blocks the activity of, galectin-3, a type of galectin. Over-expression of galectin-3 has been implicated in a number of human diseases, including chronic organ failure and cancer. This makes modulation of the activity of galectin-3 an attractive target for therapy in these diseases.
LJPC-501 is a peptide agonist of the renin-angiotensin system that acts to help the kidneys balance body fluids and electrolytes. Studies have shown that LJPC-501 may improve renal function in patients with HRS
Oct 1, 2013 Baker Bros. participated in a recent $10 MM financial restructuring and private placement for La Jolla, and accumulated 14.9 MM shares of common stock and 2,426 shares of Series F preferred stock. This is equivalent to a newly established $3.5 MM overall investment in La Jolla Pharmaceutical Company.
October 25, 2013 LJPC announced the appointment of existing independent director, Mr. Saiid Zarrabian, as Chairman of the Board. The company now has 3 independent directors, as required for listing on major stock exchanges.
October 27, 2013 LJPC announced that the United States Patent and Trademark Office (USPTO) has issued a notice of allowance for patent application number 13/888,305 covering compositions of modified pectin. The patent, which expires in 2025 without taking into account patent term extension, provides proprietary protection for colloidal pectin solutions comprised of purified, modified pectin substantially free of molecular weights below 25 kD.
Disclosure: I am long LJPC.
Additional disclosure: Bakers bros also have position XOMA, IDRA , ACAD , PCYC , SGEN