La Jolla Pharmaceutical Company (LJPC) Seeks Stockholder Approval of Dissolution
By Ben Zinga
October 15, 2009 5:32 AM
October 15, 2009 5:32 AM
La Jolla Pharmaceutical Company (NASDAQ: LJPC) announced that it has called a special meeting of stockholders for October 30, 2009 for the purpose of voting on a Plan of Complete Liquidation and Dissolution.
As of August 31, 2009, the Company had cash, net of liabilities and obligations, of approximately $4.4M. After projected operating and shut down costs, the Company projects that there will be between $0.028 and $0.045 per share available for distribution to holders of the approximately 66M shares of common stock issued and outstanding.
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