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|La Jolla Pharmaceutical Company Appoints Darryl Wellinghoff as Chief Commercial Officer|
“We are excited to welcome Darryl to La Jolla’s leadership team,” said
“La Jolla is developing life-saving products in areas of medicine that have had little innovation for decades, GIAPREZA is a great example of that. We have an incredible opportunity with GIAPREZA to impact the lives of patients and support our physician and hospital partners to deliver better outcomes for these complex patients,” added Mr. Wellinghoff. “I look forward to working with the team to execute a commercial strategy that drives results and fulfills the life-saving mission of the company.”
Prior to joining La Jolla, Mr. Wellinghoff spent 19 years in roles of increasing responsibility in the pharmaceutical industry including 15 years at The
NASDAQ Rule 5653(c)(4) Notice
Mr. Wellinghoff was awarded an option to purchase up to 80,000 shares of common stock on the commencement of his employment as an inducement to join the Company (Inducement Option). The Inducement Option, which has an exercise price equal to the fair value of the Company’s common stock on the date of grant, vests over a four-year period from the date of grant. The Inducement Option was granted outside of the Company’s shareholder-approved equity compensation plans, but will be governed in all respects as if granted under the Company’s 2013 Equity Incentive Plan.
This press release contains forward-looking statements as defined by the Private Securities Litigation Reform Act of 1995. These statements relate to expectations regarding future events or La Jolla’s future results of operations. These statements are only predictions or statements of current expectations and involve known and unknown risks, uncertainties and other factors that may cause actual results to be materially different from those anticipated by the forward-looking statements. La Jolla cautions readers not to place undue reliance on any such forward-looking statements, which speak only as of the date they were made. Certain of these risks, uncertainties and other factors are described in greater detail in La Jolla’s filings with the U.S. Securities and Exchange Commission (SEC), all of which are available free of charge on the SEC’s website at www.sec.gov. These risks include, but are not limited to, risks relating to: our ability to successfully commercialize, market and achieve market acceptance of GIAPREZA; our ability to grow net sales of GIAPREZA; potential market sizes, including for septic or other distributive shock; the timing and prospects for approval of GIAPREZA by the European Medicines Agency (EMA) or other regulatory authorities; the scope of product label(s) and potential market sizes, as well as the broader commercial opportunity for GIAPREZA and our product candidates; the impact of pharmaceutical industry regulation and healthcare legislation in the United States; the expected duration over which La Jolla’s cash balances will fund its operations; and other risks and uncertainties identified in our filings with the SEC. Forward-looking statements are presented as of the date of this press release, and La Jolla expressly disclaims any intent to update any forward‑looking statements to reflect the outcome of subsequent events.
Dennis M. Mulroy
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