HAYWARD, Calif., Oct. 24, 2012 /PRNewswire/ -- Anthera Pharmaceuticals, Inc. (NASDAQ: ANTH), today announced financial results and business highlights for the quarter ended September 30, 2012.
Financial Results and Corporate Update:
Total operating expenses for the third quarter ended September 30, 2012 were $12.0 million, as compared to $17.6 million for the second quarter ended June 30, 2012. The decrease in operating expenses for the period is related primarily to the reduced clinical activity following the completion and wind-down of activities on the PEARL-SC study.
Anthera ended the third quarter of 2012 with approximately $42.5 million in cash and cash equivalents and short-term investments. On July 24, 2012, the Company completed a public offering of shares of its common stock resulting in net proceeds of approximately $35.6 million from the sale of 37,950,000 shares, which includes 4,950,000 shares issued upon the exercise in full of the underwriters' over-allotment option.
Anthera will host a conference call at 1:00 p.m. Eastern Time tomorrow, October 25, 2012. U.S. and Canadian participants may dial (877) 312-8807; international participants may dial (253) 237-1190. The Conference ID is 44939072. To access the 24-hour audio replay, U.S. and Canadian participants may dial (855) 859-2056; international participants may dial (404) 537-3406. The conference ID for the replay is 44939072. The audio replay will be available until November 1, 2012.
Recent Business Highlights and Upcoming Events:
*SELENA-SLEDAI -- Safety of Estrogen in Lupus Erythematosus National Assessment / Systemic Lupus Erythematosus Activity Index is a cumulative, weighted index of systemic lupus erythematosus disease activity.
**SRI is defined as patients who respond to treatment and achieve a reduction in SELENA-SLEDAI equal to or greater than the number indicated, no new BILAG A or two B organ domain scores, and no increase in Physician's Global Assessment (PGA) of greater than 0.3 on a three point scale.
About Anthera PharmaceuticalsAnthera Pharmaceuticals is a biopharmaceutical company focused on developing and commercializing products to treat serious diseases associated with inflammation and autoimmune diseases.
Safe Harbor Statement
Any statements contained in this press release that refer to future events or other non-historical matters, including statements that are preceded by, followed by, or that include such words as "estimate," "intend," "anticipate," "believe," "plan," "goal," "expect," "project," or similar statements, are forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are based on Anthera's expectations as of the date of this press release and are subject to certain risks and uncertainties that could cause actual results to differ materially as set forth in Anthera's public filings with the SEC, including Anthera's Annual Report on Form 10-K for the year ended December 31, 2011 and Quarterly Report on Form 10-Q for the quarter ended June 30, 2012. Anthera disclaims any intent or obligation to update any forward-looking statements, whether because of new information, future events or otherwise, except as required by applicable law.
CONTACT: Bianca Nery of Anthera Pharmaceuticals, Inc., firstname.lastname@example.org or 510.856.5586.ANTHERA PHARMACEUTICALS, INC.A Development Stage CompanySTATEMENT OF OPERATIONS(unaudited)(in thousands except share and per share data)Three Months Ended Sept 30,Nine Months Ended Sept 30,2012201120122011OPERATING EXPENSE: Research and development
58,449 General and administrative
1,5941,8245,7156,260Total operating expense
11,12123,37047,84564,709LOSS FROM OPERATIONS:
(11,121)(23,370)(47,845)(64,709)OTHER (EXPENSE)/INCOME:Other (expense) income
(806)(920)(2,557)(1,891)Total other income (expense)
$ (11,973)$ (24,443)$ (50,486)$ (66,179)Net loss per share--basic and diluted
(1.83) Weighted-average number of shares used in per share calculation-- basic and diluted
69,630,49640,833,49550,645,80836,238,662 ANTHERA PHARMACEUTICALS, INC.A Development Stage CompanyBALANCE SHEET DATA(unaudited)(in thousands except share amounts)September 30,
2011Cash and cash equivalents
5,624Short term investments
9,493Total current liabilities, excluding current portion of notes payable
26,078Total notes payable
24,331Deficit accumulated during development stage
$ (251,465)$ (200,979)Total shareholders' equity
9,084Common shares outstanding
|SOURCE Anthera Pharmaceuticals, Inc.|
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