UPDATE 1-La Jolla Q4 loss widens

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Feb 28 (Reuters) - Drugmaker La Jolla Pharmaceutical Co (LJPC.O) reported a wider quarterly loss on higher research and development expenses related to the late-stage trials of its key drug Riquent to treat lupus.

However, the loss was narrower than market expectations by a cent.

The company reported a fourth-quarter net loss of $14.4 million, or 36 cents a share, compared with a net loss of $10.7 million, or 33 cents a share, a year ago.

Research and development expenses rose 40 percent to $12.6 million.

Shares of the company, which hit their lifetime low of $2.30 on Feb. 21, closed at $2.73 Wednesday on Nasdaq. (Reporting by Esha Dey in Bangalore; Editing by Vinu Pilakkott)