SAN DIEGO (AP) _ La Jolla Pharmaceutical Co. (LJPC) on Tuesday reported a loss of $29.2 million in its third quarter.
The San Diego-based company said it had a loss of $1.08 per share.
The results did not meet Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for a loss of $1.07 per share.
The drugmaker posted revenue of $5.7 million in the period, which also fell short of Street forecasts. Three analysts surveyed by Zacks expected $7 million.
La Jolla Pharmaceutical shares have declined 29% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $6.69, a decrease of 53% in the last 12 months.