HAYWARD, Calif., April 6 /PRNewswire-FirstCall/ -- Anthera Pharmaceuticals, Inc. , a biopharmaceutical company developing drugs to treat serious diseases associated with inflammation, today announced the closing of the underwriters' exercise of their over-allotment option to purchase an additional 604,492 shares of Anthera's common stock, at a price of $7.00 per share. The over-allotment option, which was exercised in part on March 31, 2010, was granted to the underwriters in connection with Anthera's previously announced initial public offering, which closed on March 4, 2010. The aggregate net proceeds to Anthera from the sale of the shares in the initial public offering and the exercise of the underwriters' over-allotment option was approximately $40.7 million, after deducting underwriting discounts and commissions and estimated offering expenses payable by Anthera.
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 initial public offering on March 4, 2010, 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 was the initial public offering price per share less underwriting discounts and commissions, which resulted in net proceeds to Anthera of an additional $17.1 million. Total net proceeds to Anthera of the initial public offering, including the over-allotment option, and the concurrent private placement were approximately $57.8 million.
The offering was made pursuant to a registration statement declared effective by the Securities and Exchange Commission on February 26, 2010. A copy of the final prospectus can be obtained by contacting: Deutsche Bank Securities Inc. by mail, Attn: Prospectus Department, 100 Plaza One, Floor 2, Jersey City, NJ 07311, by telephone at (800)-503-4611 or by email: prospectusrequest@list.db.com.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities, in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
About Anthera Pharmaceuticals
Anthera Pharmaceuticals is a biopharmaceutical company focused on developing and commercializing products to treat serious diseases associated with inflammation, including cardiovascular and autoimmune diseases. Anthera has one Phase 3 ready clinical program, A-002, and two Phase 2 clinical programs, A-623 and A-001. A-002 and A-001 inhibit a novel enzyme target known as secretory phospholipase A2, or sPLA2. Elevated levels of sPLA2 have been implicated in a variety of acute inflammatory conditions, including acute coronary syndrome and acute chest syndrome, as well as chronic diseases such as stable coronary artery disease, or CAD. Anthera's Phase 2 ready product candidate, A-623, targets elevated levels of B-lymphocyte stimulator, or BLyS, which has been associated with a variety of B-cell mediated autoimmune diseases, including systemic lupus erythematosus, or lupus. Anthera has worldwide rights to its product candidates, with the exception of Japan, where Shionogi & Co., Ltd. retains commercial rights to its sPLA2 product candidates.
CONTACT: Juliane Snowden of Burns McClellan, Inc., jsnowden@burnsmc.com or 212.213.0006.
Anthera Pharmaceuticals, Inc.
CONTACT: Juliane Snowden of Burns McClellan, Inc., +1-212-213-0006,
jsnowden@burnsmc.com, for Anthera Pharmaceuticals, Inc.
Web Site: http://www.anthera.com/
