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Anthera Pharmaceuticals Estimates Pricing IPO In $13-$15 Per Share Range

2/3/2010 6:59 AM ET

In an amended filing made with the regulatory on Wednesday morning, Anthera Pharmaceuticals, Inc. disclosed that it estimates pricing initial public offering of 4.607 million shares of common stock between $13 and $15 per share.

Anthera is a biopharmaceutical company focused on developing and commercializing products to treat serious diseases associated with inflammation, including cardiovascular and autoimmune diseases.

The Hayward, California-based company said it has applied to list its common stock on The NASDAQ Global Market under the symbol "ANTH"

The company noted that the underwriters have a 30-day option to purchase up to 691,071 additional shares to cover over-allotments, if any.

The company said it plans to use this offering proceeds for clinical development and for general corporate purposes.

For the years ended December 31, 2009, and 2008, the company posted net loss of $12.2 million and $18.09 million, respectively. The company also specified in the filing that it expects to incur continued significant losses for the foreseeable future.

VantagePoint Venture Partners IV, L.P. and affiliated entities, Sofinnova Venture Partners VI, L.P. and affiliated entities hold a notable stake in the company.

by RTT Staff Writer

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