Good News And a Decent Start of The Week for La Jolla Pharmaceutical Co. (OTCBB:LJPC)
The stock of La Jolla Pharmaceutical Co. (OTCBB:LJPC) is doing very good lately. After some explosive sessions in the end of last month things quieted down a bit, but yesterday’s news managed to secure a decent gain in the first trading session for a week.
At first, the session started off rather quietly and the ticker barely had any movements in price until around 02:00 PM. There were few trades and it seemed like this would be just another one of those sessions with below 5% of movement in price that LJPC has been recording lately.
That was until LJPS made an optimistic press release, most of which was filled with scientific explanations that only traders who specialize in trading medical stocks would have a chance of understanding.
Nonetheless, it was mentioned that the United States Patent and Trademark Office (USPTO) has issued a notice of allowance for one of the patent applications that LJPC has made, covering compositions of modified pectin. The notice covers LJPCS’s lead product candidate, GCS-100, which at the moment is undergoing Phase 2 clinical trial on patients with chronic kidney disease (CKD).
As we mentioned above, most of the other information contained in the press release was explained with scientific terms, but the general part, which any investor would understand was that there is progress and this can clearly spark some optimism in the company stock.
This was the exact reason for the explosion in price and traded stock that happened in the afternoon. At the end of the day LJPC had a gain of 24.34%, closing at $0.235. The total amount of traded shares came at 1.7 million and helped generate dollar volume of $370 thousand
Since LJPC started going up in the end of last month, the ticker has gained a total of 155% in value, which is pretty decent and we reckon it could be capable of going even higher with its current price of $0.235 per share. We might be seeing a new financial statement soon if we are to judge by the fact that the previous one they filed was uploaded 25 days after the end of the period it covered.
This statement could set course for the stock in any direction, depending on the information contained in it. Until we have that information, however, be sure to do a lot of due diligence and weigh out the risks, because it can turn sour if LJPC register a big financial loss.
Another medical stock that is hot right now is that of Biozone Pharmaceuticals, Inc. (OTCBB:BZNE), who are recording some of the highest dollar volumes in pennyland, with $1.8 million in yesterday’s session. On the other hand some stocks like that of Affymax, Inc. (OTCMKTS:AFFY) lost the attention they commanded due to lack of definitive news on their development.
