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Anthera Pharmaceuticals Reports 2010 Third Quarter Financial Results and Operational Update
Date:11/2/2010

HAYWARD, Calif., Nov. 2, 2010 /PRNewswire-FirstCall/ -- Anthera Pharmaceuticals, Inc. (Nasdaq: ANTH), today announced financial results and business highlights for the third quarter ended September 30, 2010.

Financial Results

Total operating expenses for the third quarter ended September 30, 2010, were $8.4 million, as compared to $3.4 million for the same period in 2009. For the nine months ended September 30, 2010, total operating expenses were $22.8 million, as compared to $10.5 million for the same period in 2009. The increase in operating expenses during the quarter and year-to-date ended September 30, 2010 was primarily the result of increased site qualifications and clinical enrollment in the Company's Phase 3 clinical study VISTA-16 (Vascular Inflammation Suppression to Treat Acute Coronary Syndrome - 16 Weeks) and clinical enrollment and manufacturing development activities for Anthera's A-623 Phase 2b study, known as PEARL-SC (A Randomized, Double-Blind Phase 2b Study to Evaluate the Efficacy, Safety, and Tolerability of A623 AdministRation in Subjects with Systemic Lupus Erythematosus). The quarterly and year-to-date results also reflect the expected increase in professional services and other costs associated with operating as a public company.

Anthera ended the third quarter of 2010 with approximately $73.1 million in cash and cash equivalents and short-term investments. Included in this amount is approximately $29.1 million in net proceeds pursuant to a private placement offering which closed on September 24, 2010. On November 1, 2010 the Department of Treasury notified Anthera that approximately $1.0M in grants have been approved under section 48D of the Internal Revenue Service code.

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