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Anthera Pharmaceuticals Reports 2011 Third Quarter Financial Results and Operational Update
Date:11/1/2011

HAYWARD, Calif., Nov. 1, 2011 /PRNewswire/ -- Anthera Pharmaceuticals, Inc. (Nasdaq: ANTH), today announced financial results and business highlights for the quarter ended September 30, 2011.

Financial Results:

Total operating expenses for the third quarter ended September 30, 2011 were $23.4 million, as compared to $8.4 million for the same period in 2010. For the nine months ended September 30, 2011, total operating expenses were $64.7 million, as compared to $22.8 million for the same period in 2010. Increased operating expenses in the third quarter of 2011 can be primarily attributed to the continued development and manufacturing of blisibimod (A-623), Anthera's Phase 2b product that inhibits both soluble and membrane-bound BAFF in patients with Systemic Lupus Erythematosus (SLE), and to the enrollment of our Phase 3 VISTA-16 cardiovascular study (Vascular Inflammation Suppression to Treat Acute Coronary Syndrome - 16 Weeks).

Anthera ended the third quarter of 2011 with approximately $93.3 million in cash and cash equivalents and short-term investments. This is compared to $112.1 million in cash and cash equivalents and short-term investments for the second quarter ended June 30, 2011.

In conjunction with the release of the third quarter 2011 financial report, Anthera will host a conference call at 5 pm Eastern Time today, November 1, 2011. U.S. and Canadian participants may dial (877) 312-8807; international participants may dial (253) 237-1190. The Conference ID is 22066672. 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 22066672. The audio replay will be available until November 8, 2011.

Recent Business Highlights and Upcoming Events:

Clinical

  • VISTA-16, our Phase 3 pivotal study evaluating th
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