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Anthera Pharmaceuticals Reports 2012 First Quarter Financial Results And Provides Clinical Progress Update
Date:5/3/2012

HAYWARD, Calif., May 3, 2012 /PRNewswire/ -- Anthera Pharmaceuticals, Inc. (NASDAQ: ANTH), today announced financial results and business highlights for the quarter ended March 31, 2012.

Financial Results:

Total operating expenses for the first quarter ended March 31, 2012 were $20.1 million, as compared to $28.4 million for the fourth quarter ended December 31, 2011. The decrease in operating expenses can be primarily attributed to the completion of enrollment of the PEARL-SC study in the fourth quarter. The Company expects operating expenses to decline further in subsequent quarters following the discontinuation of varespladib development.

Anthera ended the first quarter of 2012 with approximately $44.0 million in cash and cash equivalents and short-term investments.  This is compared to $67.4 million in cash and cash equivalents and short-term investments for the fourth quarter ended December 31, 2011. The Company expects cash burn for the second quarter ended June 30, 2012 to be approximately $13.0-15.0 million.

Anthera will host a conference call at 8:30 a.m. Eastern Time tomorrow, May 4, 2012. U.S. and Canadian participants may dial (877) 312-8807; international participants may dial (253) 237-1190.  The Conference ID is 76225935. 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 76225935.  The audio replay will be available until May 11, 2012.

Recent Business Highlights and Upcoming Events:

Clinical

  • The PEARL-SC Data Safety Monitoring Board (DSMB) met for the fourth time to review available safety data and recommended the study continue without change. The PEARL-SC study is examining the therapeutic benefit of monthly and weekly subcutaneous doses of blisibimod in p
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  • SOURCE Anthera Pharmaceuticals, Inc.
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