Anthera
May 9, 2016

Anthera Pharmaceuticals Provides Business Update and Reports 2016 First Quarter Financial Results

HAYWARD, Calif., May 09, 2016 (GLOBE NEWSWIRE) -- Anthera Pharmaceuticals, Inc. (Nasdaq:ANTH) today provided a business update and reported financial results for the first quarter ended March 31, 2016.

Recent Developments and Business Highlights:

Sollpura™ (liprotamase) - Exocrine Pancreatic Insufficiency

Blisibimod - Systemic Lupus Erythematosus ("SLE")

Blisibimod - IgA Nephropathy

Management Update

Summary of Financial Results

About Anthera Pharmaceuticals

Anthera Pharmaceuticals is a clinical-stage biopharmaceutical company focused on developing and commercializing products to treat serious and life-threatening diseases, including exocrine pancreatic insufficiency due to cystic fibrosis, lupus, lupus with glomerulonephritis, and IgA nephropathy. Additional information on the Company can be found at www.anthera.com.

Safe Harbor Statement

Any statements contained in this press release that refer to future events or other non-historical matters, including statements that are preceded by, followed by, or that include such words as "estimate," "intend," "anticipate," "believe," "plan," "goal," "expect," "project," or similar statements, are forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995.  These forward-looking statements include statements about Anthera's expectations with respect to its public offering, including statements about its intended use of proceeds from the offering.  Such statements are based on Anthera's expectations as of the date of this press release and are subject to certain risks and uncertainties that could cause actual results to differ materially, including but not limited to those set forth in Anthera's public filings with the SEC, including Anthera's Annual Report on Form 10-k for the year ended December 31, 2015.  Anthera disclaims any intent or obligation to update any forward-looking statements, whether because of new information, future events or otherwise, except as required by applicable law.

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ANTHERA PHARMACEUTICALS, INC.
CONSOLIDATED STATEMENTS OF OPERATIONS
(in thousands, except share and per share data)
(unaudited)
             
 Three Months Ended 
March 31,
   
 2016 2015     
Revenues:            
License revenue$ 139  $  49        
Collaboration revenue  6    196        
Total revenues  145    245         
             
Operating Expenses:            
Research and development$ 9,624  $  5,995        
General and administrative  2,238    1,907        
Total operating expenses  11,862    7,902        
Loss from operations  (11,717)   (7,657)       
             
Other Expenses:            
Other income (expense)  (9)   (3)       
Total other income (expense)  (9)   (3)       
              
Net loss$ (11,726) $ (7,660)       
             
Net loss per share attributable to common stockholders:            
Basic and diluted$ (0.29) $ (0.28)       
             
Weighted-average number of shares used in per share calculation: basic and diluted 

40,049,895
  

27,595,081
     
              
             
              
ANTHERA PHARMACEUTICALS, INC.
BALANCE SHEET DATA
(in thousands, except share data)
(unaudited)
             
 March
31, 2016
 December 31,
2015
        
              
Cash and cash equivalents$ 37,877  $ 46,951        
Accounts receivable$ -  $ 326        
Total assets$ 38,856  $ 48,125        
Total deferred revenue$ -  $ 138        
Total liabilities, excludes deferred revenue$ 8,036  $  8,330        
Accumulated deficit $ (363,757) $ (352,031)       
Total shareholders' equity$  30,820  $ 39,657        
Common shares outstanding40,486,883 40,004,037       

CONTACT: Nikhil Agarwal of Anthera Pharmaceuticals, Inc.

nagarwal@anthera.com or 510-856-5600x5621

Source: Anthera Pharmaceuticals, Inc.

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