Anthera Pharmaceuticals completes initial public offering at $7.00 per share

Anthera Pharmaceuticals, Inc. (Nasdaq: ANTH), a biopharmaceutical company developing drugs to treat serious diseases associated with inflammation, today announced the completion of its initial public offering of six million shares of common stock at a price of $7.00 per share.  The net proceeds of the offering to Anthera, after deducting underwriting discounts and commissions and estimated offering expenses payable by Anthera, were approximately $36.7 million. In addition, Anthera has granted the underwriters a 30-day option to purchase up to an additional 900,000 shares to cover over-allotments, if any. The sole book-running manager of the offering is Deutsche Bank Securities Inc. Piper Jaffray & Co. is a co-lead manager of the offering and Cowen and Company, LLC and Merriman Curhan Ford & Co. are co-managers of the offering.

Concurrently with the closing of the offering, Anthera completed a private placement of an aggregate of 2,598,780 shares of common stock to certain of its existing investors at a price of $6.58 per share, which is the initial public offering price per share less underwriting discounts and commissions, which will result in net proceeds to Anthera of an additional $17.1 million.  Total net proceeds to Anthera of the initial public offering and the concurrent private placement totaled approximately $53.8 million.

In addition, Anthera issued an aggregate of 531,914 shares of common stock to Eli Lilly and Shionogi and Co., Ltd  in satisfaction of a $3.5 million milestone payment related to the initiation of the VISTA-16 trial for A-002, which Anthera expects to initiate in the near future.

SOURCE Anthera Pharmaceuticals, Inc