La Jolla Pharmaceutical Co. (NASDAQ: LJPC)shares jumped on Thursday after the company said its lupus drug was well tolerated in data across three different reports.
Shares of the firm rose 50 cents or 9.14 percent to close at $5.7 on the Nasdaq Stock Market.
Interim phase III data of its Riquent drug candidate showed that the drug was well tolerated by patients, even at high doses.
Riquent is being developed to specifically treat lupus renal disease by preventing or delaying renal flare, a leading cause of sickness and death in lupus patients, it said.
Unlike other drugs of the same class, Riquent does not suppress the immune system, which could cause serious infection.
We believe that Riquent has the potential to be highly efficacious and well-tolerated â€“ it is designed to specifically target and reduce antibodies to double-stranded DNA (anti-dsDNA) that are believed to cause lupus renal disease, said Deirdre Y. Gillespie, M.D., President and Chief Executive Officer
The San Diego-based drug maker presented the findings at the International Lupus Congress.