Item 8.01 Other Events.
On February 19, 2009, La Jolla Pharmaceutical Company (the "Company") issued a
press release announcing that, following the negative results of the Riquent
Phase 3 interim efficacy analysis, the Company is taking steps to reduce costs
to preserve its remaining cash and other assets, including a substantial
reduction in personnel and other operating expenses. In addition to working to
maximize the value of the Company's cash and remaining assets, the Company is
evaluating strategic options such as winding down the business or the sale of
the Company. Although the Company has not committed to a plan of disposition of
these assets, it does not expect that there will be any significant remaining
assets available for distribution to the Company's stockholders following the
satisfaction of existing obligations.
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