Positive Drug Data Lift La Jolla Pharma

La Jolla Pharmaceutical(LJPC Quote) surged higher Thursday after it released positive data for its lupus treatment Riquent.

In a presentation at the International Lupus Congress, the San Diego biopharmaceutical company said that Riquent was well tolerated in three reports including safety and interim data from a phase III study. In addition to the phase III interim data, it also presented on safety and drug levels of Riquent up to 2,400 mg in healthy volunteers and cardiovascular safety, also in healthy volunteers.

"These three presentations provide important, additional data that continue to indicate that Riquent is well tolerated, even at much higher doses," said CEO Dierdre Gillespie, M.D.

Riquent is designed to keep intact healthy functions of the immune system, in comparison to other treatments that can suppress it, and to target and reduce antibodies to double-stranded DNA believed to cause lupus renal disease.

After climbing to as high as $7.06 earlier in the day, shares of La Jolla Pharma were up nearly 14% at $6.22 in recent trading.