La Jolla Pharmaceutical Company Receives Notice of Noncompliance with Nasdaq Stock Market Listing Requirement

Posted on: Fri, 18 Sep 2009 16:30:00 EDT


Symbols: LJPC
SAN DIEGO, Sep 18, 2009 (BUSINESS WIRE) --
LJPC | Quote | Chart | News | PowerRating -- La Jolla Pharmaceutical Company (Nasdaq: LJPC | Quote | Chart | News | PowerRating) announced today that it
has received a notice from the Nasdaq Stock Market indicating that the
Company is not in compliance with Nasdaq Marketplace Rule 5550(a)(2)
(the "Minimum Bid Price Rule") because, for the last 30 consecutive
days, the bid price for the Company's common stock has closed below the
minimum level of $1.00 per share. In accordance with Nasdaq Marketplace
Rules, the Company will be provided 180 calendar days, or until March
15, 2010, to regain compliance with the Minimum Bid Price Rule. This
notification has no effect on the listing of the Company's common stock
at this time.

If the Company does not regain compliance with the Minimum Bid Price
Rule by March 15, 2010, Nasdaq will notify the Company that its common
stock will be delisted from the Nasdaq Stock Market.

SOURCE: La Jolla Pharmaceutical Company


La Jolla Pharmaceutical Company
Gail A. Sloan
Vice President of Finance and Secretary
858-452-6600
gail.sloan@ljpc.com

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