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Anthera Pharmaceuticals Reports 2012 Fourth Quarter And Fiscal Year Financial Results
Date:3/26/2013

HAYWARD, Calif., March 26, 2013 /PRNewswire/ -- Anthera Pharmaceuticals, Inc. (NASDAQ: ANTH), today announced financial results and business highlights for the quarter and fiscal year ended December 31, 2012.

Fourth Quarter and Fiscal Year 2012 Financial Results:

Total operating expenses for the fourth quarter ended December 31, 2012 were $8.1 million, as compared to $11.1 million for the third quarter ended September 30, 2012. The decrease in operating expenses for the period is related primarily to the reduced clinical activity following the completion of the PEARL-SC study.

Total operating expenses for the fiscal year ended December 31, 2012 were $55.9 million, as compared to $93.1 million for the fiscal year ended December 31, 2011. The decrease in operating expenses for the period can be attributed to the reduced clinical activity following the completion of the PEARL-SC study and the termination of the VISTA-16 study in early 2012.  

Anthera ended the fourth quarter of 2012 with approximately $24.8 million in cash and cash equivalents and short-term investments. On January 30, 2013, the Company completed a public offering of shares of its common stock resulting in net proceeds of approximately $43.0 million from the sale of 69,696,970 shares, which includes 9,090,909 shares issued upon the exercise in full of the underwriters' over-allotment option.

The Company intends to host a conference call during the second quarter of 2013 to provide an update on the Company's clinical development plan.

Recent Management Update:

Sanford Zweifach has been appointed to Anthera's Board of Directors.  Mr. Zweifach has over 20 years of extensive experience in the areas of corporate partnering, business development, operational and P&L experience, private and public
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SOURCE Anthera Pharmaceuticals
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