Shares of Anthera Pharmaceuticals, Inc. (NASDAQ:ANTH) in the Tank Following Announcement of Blisibimod CHABLIS-SC1 Phase 3 Study Failure

Biopharmaceutical company focused on developing and commercializing products to treat serious and life-threatening diseases, Anthera Pharmaceuticals, Inc. (NASDAQ:ANTH), announces a failure of their Blisibimod CHABLIS-SC1 Phase 3 Study.

HAYWARD, Calif., Nov. 10, 2016 (GLOBE NEWSWIRE) — Anthera Pharmaceuticals, Inc. (ANTH) today announced that the CHABLIS-SC1 clinical trial with blisibimod for the treatment of systemic lupus erythematosus (SLE) failed to meet its primary endpoint based upon the SLE Responder Index-6 (SRI-6) at 52 weeks. Although 47% of patients in the blisibimod arm versus 42% of patients in the placebo arm achieved this endpoint, the difference was not statistically significant.  The SRI is a composite index comprised of SELENA-SLEDAI, BILAG and Physician Global Assessment criteria.  A SRI-6 response requires a decrease of at least 6 points in SELENA-SLEDAI.  The magnitude of blisibimod treatment effects for other SLE Response (SRI-4, and SRI-8) also did not achieve statistical significance.

Serum biological markers including B-cells, immunoglobulins, and complement demonstrated statistically significant treatment effects consistent with expectations and previous blisibimod clinical studies in lupus and IgA nephropathy. Adverse events between the blisibimod and placebo treatment arms were well balanced and blisibimod was generally well tolerated.

“We are disappointed that the results did not demonstrate a meaningful improvement in patients’ disease activity as assessed by SRI endpoints,” said William Shanahan, M.D., Anthera’s Chief Medical Officer. “We would like to thank the patients, caregivers, investigators and key opinion leaders who made the CHABLIS-SC1 clinical study possible. It has yielded significant amounts of data which we look forward to sharing with the scientific community in the future which we believe will help to further inform the development of treatments for severe lupus.” 

The Company will continue to analyze the data in the coming weeks from the CHABLIS-SC1 trial in consultation with key lupus disease thought leaders to expeditiously determine the future of the blisibimod lupus program including the on-going CHABLIS 7.5 clinical study.  As the pharmacological effects on immunological markers, such as B-cells and immunoglobulins, were as expected, the company is continuing the development of blisibimod for the treatment of IgA Nephropathy (IgAN) pending 48 week results from the ongoing phase 2 BRIGHT study.  IgAN has a very different pathogenesis than systemic lupus, and the pharmacological activity of blisibimod might prove effective in its treatment.  The Company expects to report 48-week data from the BRIGHT-SC IgAN study and topline data from the Sollpura™ SOLUTION phase 3 study later this year.

Anthera will host a conference call to further discuss the data from the CHABLIS-SC1 clinical study.

Conference Call Access:

Date: November 10, 2016

Time: 8:30 am Eastern Time

Conference ID: 18122260

Toll-Free Dial-In Number: (855) 226-3021

International Dial-In Number: (315) 625-6892

About Anthera Pharmaceuticals, Inc.

Anthera Pharmaceuticals is a biopharmaceutical company focused on developing and commercializing products to treat serious and life-threatening diseases, including lupus, lupus with glomerulonephritis, IgA nephropathy, and exocrine pancreatic insufficiency due to cystic fibrosis. Additional information on the Company can be found at www.anthera.com.

Original Source

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Anthera Pharmaceuticals, Inc. (NASDAQ:ANTH) shares are trading -31.65% on the news and in the range of $1.72 – 2.34 during the current trading session.  When taking a look at which direction the stock might be headed, investors often look to brokerage analysts who cover the stock.  Sell-side research firms on Wall Street currently have a consensus one-year price target of $9.80 on the stock.  This is according to brokerage analysts polled by Thomson Reuters First Call.

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Sell-side analysts are projecting earnings per share of $-0.37 for the next fiscal quarter.  For the current year, analysts are predicting earnings of $-1.55 per share according to First Call.

In looking at where the stock is trading on a technical level, the stock is trading -32.34% away from its 50-day moving average of $2.81.  Based on the most recent available data, the equity is -68.75% off of its 52-week high of $6.08 and +10.47% away from its 52-week low which is $1.72.

Today, the stock opened at $2.19 and the last bid at the time of writing stood at $1.90.  During the session thus far, the equity dipped down to $1.72 and touched $2.34 as the high point.  Anthera Pharmaceuticals, Inc. (NASDAQ:ANTH) has a market cap of $79.71M and has seen an average daily volume of 500,917 over the past three months.

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