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Anthera Pharmaceuticals Reports 2012 Third Quarter Financial Results And Provides Clinical Progress Update
Date:10/25/2012

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:

Clinical

  • Subsequent clinical results from the Phase 2b PEARL-SC study, which examined the therapeutic effect of blisibimod, indicate that in the predefined population of patients with clinically active disease (SELENA-SLEDAI* >/= 10) who were also taking corticosteroids, the SRI-8** treatment effects in the 200 mg
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