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Anthera Pharmaceuticals Reports 2014 Second Quarter Financial Results and Operational Update
Date:7/28/2014

HAYWARD, Calif., July 28, 2014 /PRNewswire/ -- Anthera Pharmaceuticals, Inc. (NASDAQ: ANTH), today announced financial results and operational update for the second quarter ended June 30, 2014.

Net loss for the three months ended June 30, 2014 was $7.3 million, compared to $8.3 million for the same period in 2013. The decrease in net loss is a direct result of a decrease in interest expense in the current period. 

Net loss for the six months ended June 30, 2014 was $15.2 million, compared with net loss of $15.9 million for the same period in 2013.  The decrease in net loss is mainly due to a decrease in interest expense by $1.4 million, offset by an increase in research and development expense of $0.9 million.  The increase in research and development expense reflected the Company's enrollment progress in both the Phase 3 systemic lupus erythematosus clinical study, CHABLIS-SC1, and Phase 2/3 IgA nephropathy clinical study, BRIGHT-SC.

As of June 30, 2014, the Company's cash, cash equivalents and restricted cash was $22.8 million, compared to $35.9 million at December 31, 2013. The decrease in cash was attributable to cash used in operations and reduction in the Company's restricted cash as a result of principal payment made against the Company's outstanding debt during the six months ended June 30, 2014. 

Second Quarter Operational Update:Clinical

Blisibimod for the treatment of Systemic Lupus Erythematosus (CHABLIS-SC1)

Our Phase 3 lupus clinical study, CHABLIS-SC1, is recruiting at 12 countries in Eastern Europe, Latin America and Southeast Asia.  In July, an independent Data Safety Monitoring Board ("DSMB") recommended continuing the CHABLIS-SC1 clinical study following the second scheduled interim data and safety review.  To date, we have enrolled over 50% of the 400 patients planned for the CHABL
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SOURCE Anthera Pharmaceuticals, Inc.
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