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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Anthera Pharmaceuticals Inc (CE) | USOTC:ANTH | OTCMarkets | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 0.000001 | 0.00 | 01:00:00 |
Recent Developments and Business Highlights:
Sollpura™ (liprotamase) for the treatment of Exocrine Pancreatic Insufficiency (“EPI”)
The RESULT study of Sollpura in patients with EPI caused by cystic fibrosis completed dosing for the primary treatment period on February 2, 2018. The study was initiated in May 2017 and enrolled 140 patients in the United States, Europe and Israel. The primary efficacy variable will evaluate the change from baseline in coefficient of fat absorption (“CFA”) following 4 weeks of treatment with either Sollpura or Pancreaze. Patients randomized to Sollpura will then be followed for an additional 20-week extension period (total of 24 weeks on study) for longer term assessments of weight, height, BMI, and safety. Top line data will include the major primary and secondary outcome measures based on 4 weeks of comparative treatment and is expected in March.
In December 2017 and January 2018, we reported positive outcomes of two prespecified, sequential, and separately conducted interim futility analyses for the RESULT study after approximately 25% and 50% of patients, respectively, had completed the primary treatment period. Both analyses were conducted by RESULT’s Data Monitoring Committee which is comprised of experts appointed by the Cystic Fibrosis Foundation’s Therapeutics Development Network.
Management Update
On January 1, 2018, we strengthened our executive management team through the appointment of Patrick Murphy as our Senior Vice President, Manufacturing. In this role, Mr. Murphy will oversee the manufacturing and commercial scale-up of Sollpura.
Financing Update
In October 2017, we completed the first of two closings of a private placement with net proceeds of $2.2 million. In January 2018 the second closing yielded additional net proceeds of $11.1 million.
Subsequent to December 31, 2017, we received aggregate net proceeds of $3.1 million from the issuance of common stock pursuant to warrant exercises and the sale of common stock pursuant to an equity purchase agreement.
NASDAQ Compliance Update
As of February 28, 2018, we met the market capitalization requirement of at least $35 million for ten consecutive trading days for continued listing on the Nasdaq Capital Market. A formal compliance determination is pending from the Nasdaq Stock Market LLC.
Summary of Financial Results:
About Anthera Pharmaceuticals, Inc.
Anthera Pharmaceuticals, Inc. is a clinical-stage biopharmaceutical company focused on developing products to treat serious and life-threatening diseases, including exocrine pancreatic insufficiency and B-cell associated renal diseases, including 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 September 30, 2017. 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.
CONTACT:
Investor Relations of Anthera Pharmaceuticals, Inc.ir@anthera.com
For Media Inquiries:Frannie Marmorstein, 305-567-0821frannie.marmorstein@rbbcommunications.com www.twitter.com/antherapharmahttps://www.facebook.com/antherapharma/ https://www.linkedin.com/company/anthera-pharmaceuticals
ANTHERA PHARMACEUTICALS, INC. | ||||||||||||||||
CONSOLIDATED STATEMENTS OF OPERATIONS | ||||||||||||||||
(in thousands, except share and per share data) | ||||||||||||||||
(unaudited) | ||||||||||||||||
Three months endedDecember 31, | Twelve months endedDecember 31, | |||||||||||||||
2017 | 2016 | 2017 | 2016 | |||||||||||||
REVENUES: | ||||||||||||||||
License fee | $ | — | $ | — | $ | — | $ | 139 | ||||||||
Collaborative revenue | — | — | — | 6 | ||||||||||||
Total revenues | — | — | — | 145 | ||||||||||||
OPERATING EXPENSES: | ||||||||||||||||
Research and development | $ | 7,655 | $ | 10,825 | $ | 28,594 | $ | 46,512 | ||||||||
General and administrative | 1,600 | 3,754 | 7,938 | 11,071 | ||||||||||||
Research award | — | — | (100 | ) | (261 | ) | ||||||||||
Total operating expenses | 9,255 | 14,579 | 36,432 | 57,322 | ||||||||||||
LOSS FROM OPERATIONS | (9,255 | ) | (14,579 | ) | (36,432 | ) | (57,177 | ) | ||||||||
OTHER INCOME (EXPENSE): | ||||||||||||||||
Other income (expense) | $ | (11 | ) | $ | 19 | $ | (85 | ) | (90 | ) | ||||||
Fair value of warrant liability in excess of proceeds from financing | — | — | (600 | ) | — | |||||||||||
Change in fair value of warrant liability | (407 | ) | 1,575 | 10,243 | 1,744 | |||||||||||
Total Other Income (Expense) | (418 | ) | 1,594 | 9,558 | 1,654 | |||||||||||
Net Loss | $ | (9,673 | ) | $ | (12,985 | ) | $ | (26,874 | ) | $ | (55,523 | ) | ||||
Deemed dividends attributable to preferred stock | — | (2,107 | ) | (2,503 | ) | (10,914 | ) | |||||||||
Net loss applicable to common stockholders | $ | (9,673 | ) | $ | (15,092 | ) | $ | (29,377 | ) | $ | (66,437 | ) | ||||
Net loss per share applicable to common stockholders—basic and diluted (1) | $ | (0.73 | ) | $ | (2.84 | ) | $ | (2.86 | ) | $ | (12.87 | ) | ||||
Weighted-average number of shares used in per share calculation—basic and diluted (1) | 13,190,889 | 5,307,406 | 10,278,391 | 5,163,784 |
(1) | All share and per share amounts and shares of the Company’s common stock issued and outstanding for all periods have been retroactively adjusted to reflect the one-for-eight reverse stock split which became effective on April 28, 2017. |
ANTHERA PHARMACEUTICALS, INC. | |||||||
BALANCE SHEET DATA | |||||||
(in thousands, except share data) | |||||||
(unaudited) | |||||||
December 31, 2017 | December 31, 2016 | ||||||
Cash and cash equivalents | $ | 2,196 | $ | 20,843 | |||
Total assets | $ | 3,673 | $ | 23,471 | |||
Warrant liability | $ | 4,457 | $ | — | |||
Total liabilities, excludes warrant liability | $ | 4,711 | $ | 10,624 | |||
Series X contingently redeemable convertible preferred stock | $ | — | $ | 377 | |||
Series X convertible preferred stock | $ | 333 | $ | 8,614 | |||
Common Stock and additional paid-in capital | $ | 428,600 | $ | 411,410 | |||
Accumulated deficit | $ | (434,428 | ) | $ | (407,554 | ) | |
Total shareholders' equity | $ | (5,495 | ) | $ | 12,470 | ||
Common shares outstanding (1) | 13,854,491 | 5,745,536 | |||||
Series X convertible preferred shares outstanding | 430 | 9,499 |
(1) | All shares of the Company’s common stock issued and outstanding for all periods have been retroactively adjusted to reflect the one-for-eight reverse stock split which became was effective on April 28, 2017. |
1 Year Anthera Pharmaceuticals (CE) Chart |
1 Month Anthera Pharmaceuticals (CE) Chart |
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