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Anthera Pharmaceuticals Reports 2013 Second Quarter Financial Results
Date:7/30/2013

HAYWARD, Calif., July 30, 2013 /PRNewswire/ -- Anthera Pharmaceuticals, Inc. (NASDAQ: ANTH), today announced financial results and business highlights for the quarter ended June 30, 2013.

Second Quarter 2013 Financial Results: Loss from operations decreased in the second quarter of 2013 to $7.0 million from $16.7 million in the second quarter of 2012, and to $13.9 million for the six months ended June 30, 2013 compared to $36.7 million for the comparable period in 2012.  The decreases in loss from operations primarily resulted from a decrease in research and development expenses due to the Company's shift in focus to the development of blisibimod for systemic lupus erythematosus, or lupus, and IgA nephropathy, an orphan disease in the United States.  

Net loss for the quarter ended June 30, 2013 was $8.3 million, or $0.43 loss per basic and diluted share, compared with a net loss of $17.6 million, or $3.43 loss per basic and diluted share for the quarter ended June 30, 2012. Net loss in the current quarter included a non-cash charge of $0.5 million in unamortized note discount and debt issuance cost as a result of the Company's successful restructuring of its debt obligations with Hercules Technology Growth Capital. The Company reported a net loss of $15.9 million or $0.92 per basic and diluted share for the six months ended June 30, 2013, compared with a net loss of $38.5 million or $7.51 per basic and diluted share for the comparable period in 2012. The decrease in net losses per basic and diluted share in 2013 as compared to 2012 both quarterly and year-to-date were primarily due to the result of lower loss from operations, and higher common shares outstanding attributable to the closing of an underwritten public offering of 8,712,119 shares of the Company's common stock in January 2013 from which the Co
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SOURCE Anthera Pharmaceuticals, Inc.
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