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La Jolla's stock doubles in two days on positive Phase 2 trial of iron-overload treatment

The company’s LJPC-401 dug is a synthetic form of hepcidin, the hormone that regulates iron levels in the body
Red blood cells
La Jolla is a San Diego-based company focused on developing treatments for life-threatening diseases

La Jolla Pharmaceutical Company (NASDAQ:LJPC) stock rocketed higher for the second day in a row following positive news from a Phase 2 trial of its Hereditary Hemochromatosis treatment.

The company’s LJPC-401 dug is a synthetic form of hepcidin, the hormone that regulates iron levels in the body. Hemochromatosis, also known as iron overload disorder, occurs when the body absorbs too much iron from the diet.

The stock has more than doubled in two days, climbing another 24% Friday to $12.68.

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In the interim analysis of 26 patients, the drug was found to be statistically significant in reducing Transferrin Saturation, a measure how many iron-binding sites are occupied by iron.

“The robustness of this early readout supporting further development of LJPC-401 is very encouraging,” said Jeff Vacirca, an investigator in the study. “There have been no new treatment modalities introduced for patients with hereditary hemochromatosis in more than a decade. In light of the negative impact that repeated phlebotomy procedures have on patient quality-of-life, patients would welcome a pharmacologic treatment that they can self-administer and that addresses the underlying pathophysiology of the disease.”

Phlebotomy procedures remove patients blood in order to reduce iron overload.

La Jolla is a San Diego-based company focused on developing treatments for life-threatening diseases.

Contact Andrew Kessel at [email protected]

Follow him on Twitter @andrew_kessel

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