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Anthera Pharmaceuticals Reports 2013 Third Quarter Financial Results, Clinical and Regulatory Update
Date:10/29/2013

HAYWARD, Calif., Oct. 29, 2013 /PRNewswire/ -- Anthera Pharmaceuticals, Inc. (NASDAQ: ANTH), today announced financial results, clinical and regulatory update for the quarter ended September 30, 2013.

Third Quarter 2013 Financial Results: Net loss for the third quarter of 2013 decreased to $5.8 million from $12.0 million, and loss per basic and diluted share decreased to $0.30 from $1.38, as compared to the same quarter in 2012.  Net loss for the nine months ended September 30, 2013 decreased to $21.7 million from $50.5 million, loss per basic and diluted share decreased to $1.21 from $7.97, as compared to the same period in 2012.  The decrease in net losses both quarterly and year-to-date 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.  The decrease in net loss per basic and diluted share in 2013 as compared to 2012 was primarily due to the results of lower loss from operations and higher common shares outstanding.

As of September 30, 2013, the Company had cash, cash equivalents and short-term investments of $42.0 million, including $10.0 million of restricted cash. The Company's cash position is higher than forecast as a result of lower operating expenses recognized in the quarter.

Third Quarter Operational Update:Clinical

Blisibimod for the treatment of Systemic Lupus Erythematosus (CHABLIS-SC)

The Phase 3 study CHABLIS-SC1 is currently recruiting at 31 sites across 11 countries in Eastern Europe, Latin America and South East Asia. The Company anticipates site activation activities will continue to ramp up over the remai
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SOURCE Anthera Pharmaceuticals, Inc.
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