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Anthera Pharmaceuticals Reports 2011 First Quarter Financial Results and Operational Update
Date:5/3/2011

HAYWARD, Calif., May 3, 2011 /PRNewswire/ -- Anthera Pharmaceuticals, Inc. (Nasdaq: ANTH), today announced financial results and business highlights for the quarter ended March 31, 2011.

Financial Results:

Total operating expenses for the first quarter ended March 31, 2011 were $18.7 million, as compared to $6.5 million for the same period in 2010. The increased operating expenses in the first quarter of 2011 were driven by expenses related to site initiations and the active enrollment of patients in our Phase 3 VISTA-16 study (Vascular Inflammation Suppression to Treat Acute Coronary Syndrome - 16 Weeks), which is an event driven study in Acute Coronary Syndrome (ACS) patients studying the benefit of varespladib anti-inflammatory treatment in high risk patients. In addition, the increased manufacturing expenses related to the development of A-623, our large molecule inhibitor of BAFF, and the accelerating enrollment of Anthera's Phase 2b study, 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) at up to 90 clinical sites in up to 12 countries contributed to the increased expense. The quarterly results also reflect the previously anticipated increase in professional services and other costs associated with operating as a public company.

Anthera ended the first quarter of 2011 with approximately $78.5 million in cash and cash equivalents and short-term investments, which includes approximately $25.0 million of gross proceeds received from a term loan which closed on March 25, 2011. This is compared to $63.4 million in cash and cash equivalents and short-term investments for the fourth quarter ended December 31, 2010.

Recent Business Highlights and Upcoming Events:
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SOURCE Anthera Pharmaceuticals, Inc.
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Related medicine technology :

1. Anthera Pharmaceuticals Successfully Completes Interim Biomarker Analysis of VISTA-16 Study and Third Safety Review of Varespladib Methyl
2. Anthera Announces Conference Call to Discuss Analytical Method and Timing of Upcoming VISTA-16 Biomarker Analysis
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