HAYWARD, Calif., June 21, 2013 /PRNewswire/ --Anthera Pharmaceuticals, Inc. (Nasdaq: ANTH) (the "Company"), a biopharmaceutical company focused on developing and commercializing products to treat serious diseases associated with inflammation and autoimmune diseases, today announced that it received a Staff Determination Letter (the "Notice") on June 19th, 2013 from the Nasdaq Stock Market LLC ("Nasdaq").
As previously disclosed, on December 20, 2012, the Nasdaq notified the Company that the bid price of the Company's listed common stock was not in compliance with the continued listing requirements due to the bid price closing at less than $1 per share over the previous 30 consecutive business days. Nasdaq has determined to remove the Company's common stock from listing and registration on the Nasdaq Stock Market, at the opening of business on June 28th, 2013.
The Company plans to appeal the Nasdaq Staff's determination to a Hearings Panel ("the Panel"). A hearing request will delay the suspension of the Company's common stock pending the Panel's decision.
About Anthera Pharmaceuticals
Anthera Pharmaceuticals is a biopharmaceutical company focused on developing and commercializing products to treat serious diseases associated with inflammation and autoimmune diseases.
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. These forward-looking statements include statements about the Company's expectations with respect to its proposed offering, including its intention to offer and sell shares, its intention to grant the underwriters an option to purchase additional shares and its intended use of proceeds from the offering. Such statements are based on the Company'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 the risks and uncertainties associated with market conditions and the satisfaction of customary closing conditions related to the proposed offering, as well as those set forth in the Company's public filings with the SEC, including the Company's Annual Report on Form 10-K for the year ended December 31, 2012 and Quarterly Report on Form 10-Q for the quarter ended March 31, 2013. The Company 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: Dennis Lutz of Anthera Pharmaceuticals, Inc., dlutz@anthera.com or 510-856-5598.
SOURCE Anthera Pharmaceuticals, Inc.
