Anthera
Aug 9, 2016

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

HAYWARD, Calif., Aug. 09, 2016 (GLOBE NEWSWIRE) -- Anthera Pharmaceuticals, Inc. (Nasdaq:ANTH) today provided a business update and reported financial results for the second quarter ended June 30, 2016.

Recent Developments and Business Highlights:

Sollpura™ (liprotamase) - Exocrine Pancreatic Insufficiency ("EPI")

Blisibimod - Systemic Lupus Erythematosus ("SLE")

Blisibimod - IgA Nephropathy

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.   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 Quarterly Report on Form 10-Q for the quarter ended March 31, 2016.  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
 June 30,
   Six months ended
June 30,
  
   2016    2015     2016   2015  
REVENUES:                   
License fee $  $ 146   $ 139  $195  
Collaborative revenue       143    6   339  
Total revenues      289    145   534  
OPERATING EXPENSES:               
Research and development $11,966  $ 8,539   $21,590  $14,534  
General and administrative  2,576    1,696    4,814   3,603  
Research award  (261)   (1,100   (261)  (1,100) 
Total operating expenses  14,281    9,135    26,143   17,037  
LOSS FROM OPERATIONS  (14,281)   (8,846 )   (25,998)  (16,503) 
OTHER INCOME (EXPENSE):                 
Other income (expense)  (53)   (49   (62)  (52) 
NET LOSS $(14,334) $ (8,895)  $(26,060) $(16,555) 
Net loss per share—basic and diluted $(0.35) $ (0.25)  $(0.64) $ (0.52) 
Weighted-average number of shares used in
per share calculation—basic and diluted
  41,032,544    35,817,794    40,541,219   31,729,152  


 
ANTHERA PHARMACEUTICALS, INC.
BALANCE SHEET DATA
(in thousands, except share data)
(unaudited)
             
 June 30
2016
 December
31, 2015
       
              
Cash and cash equivalents$28,500 $ 46,951        
Accounts receivable$261 $ 326        
Total assets$30,717 $ 48,125        
Total deferred revenue$- $ 138         
Total liabilities, excludes deferred revenue$10,181 $ 8,330        
Accumulated deficit  $(378,091
$ (352,031)       
Total shareholders' equity (deficit)$20,536 $ 39,657        
Common shares outstanding41,285,033 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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