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Anthera Pharmaceuticals Reports 2012 Second Quarter Financial Results And Provides Clinical Progress Update
Date:8/7/2012

HAYWARD, Calif., Aug. 7, 2012 /PRNewswire/ -- Anthera Pharmaceuticals, Inc. (NASDAQ: ANTH), today announced financial results and business highlights for the quarter ended June 30, 2012.

Financial Results:

Total operating expenses for the second quarter ended June 30, 2012 were $16.7 million, as compared to $20.1 million for the first quarter ended March 31, 2012. The decrease in operating expenses for the period is related to the reduced clinical activity following the completion of patient dosing in the PEARL-SC study in April 2012.

Anthera ended the second quarter of 2012 with approximately $22.9 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 $35.5 million. Cash burn during the second quarter was higher than expected due to the accelerated payments made that were previously slated for Q3 2012.

Recent Business Highlights and Upcoming Events:

Clinical

  • The Phase 2b PEARL-SC study, which was completed in June 2012, examined the therapeutic benefit of blisibimod in patients with lupus. A goal of the study was to identify a patient population that would maximally benefit from an effective and safe dose of blisibimod for future late-stage clinical studies. Pre-specified efficacy and subgroup analyses from the PEARL-SC study indicated an early and sustained onset of action in severely diseased systemic lupus erythematosus patients, defined as SELENA-SLEDAI* ≥ 10 and receiving background corticosteroid medication, treated with 200mg weekly doses of blisibimod. These patients demonstrated a 13.8% treatment difference compared to placebo at 24 weeks.
  • Additional pre-specified analyses of the data suggests greater treatment effects versus placebo in the severe patient subset as early a
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