La Jolla losses grow on increased Riquent efforts
This article was originally published in Scrip
La Jolla Pharmaceutical's losses widened as the biotech advanced the development of its Phase III renal drug, Riquent (abetimus sodium). Third-quarter losses grew by 29% to $17.1 million following increased R&D activity. Riquent aims to treat lupus renal disease by preventing or delaying renal flares, a leading cause of fatality in lupus patients. The clinical focus on the product was largely responsible for the 24% climb in R&D expenditure to $14.1 million. The candidate is also being assessed to see if it improves proteinuria, which is an indicator of abnormal renal function. Riquent acts by reducing the level of anti-dsDNA antibodies and suppresses B cells that produce these antibodies.