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Anthera Pharmaceuticals Reports 2013 First Quarter Financial Results
Date:5/13/2013

HAYWARD, Calif., May 13, 2013 /PRNewswire/ -- Anthera Pharmaceuticals, Inc. (NASDAQ: ANTH), today announced financial results and business highlights for the quarter ended March 31st, 2013.

First Quarter 2013 Financial Results:

Loss from operations, which included a non-recurring and non-cash charge of approximately $1.5 million in stock-based compensation, was $6.9 million for the first quarter of 2013, compared to $20.1 million for the first quarter of 2012.  The decrease in loss from operations primarily resulted from a decrease in research and development expenses to $4.9 million from $17.7 million and a decrease in general and administrative expenses from $2.3 million to $2.0 million.  The decrease in research and development expenses in the first quarter of 2013 compared to the first quarter of 2012 was primarily the result of decreased direct and indirect clinical study costs as the Company focuses on the development of blisibimod for systemic lupus erythematosus, or lupus, and IgA nephropathy, an orphan disease.  The Company also experienced lower manufacturing spending as manufacturing of blisibimod for patient dosing in the on-going clinical studies was completed in 2012.  The decrease in general and administrative expenses for the first quarter of 2013 compared to the first quarter of 2012 was primarily due to reduced spending on consulting and professional services and reflects the Company's ongoing cost reduction efforts.

Net loss for the quarter ended March 31, 2013 was $7.6 million, or $0.06 loss per basic and diluted share, compared with loss of $20.9 million, or $0.51 loss per basic and diluted share for the quarter ended March 31, 2012. The decrease in net loss per basic and diluted share in the first quarter of 2013 as compared to the first quarter of 2012 was primarily the result
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SOURCE Anthera Pharmaceuticals, Inc.
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