Is Anthera Dead in the Water?

Anthera Pharmaceuticals Inc. (NASDAQ: ANTH) saw its shares get absolutely crushed in Monday’s session following missed results in a late-stage study. Specifically, the company said that Sollpura did not meet the non-inferiority margin of the coefficient of fat absorption primary endpoint in the Result Phase 3 clinical study of exocrine pancreatic insufficiency due to cystic fibrosis.

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Although a proportion of patients randomized to Sollpura maintained or improved their coefficient of fat absorption from baseline in the study, a higher proportion of patients experienced a worsening. At the same time, Sollpura did achieve the secondary endpoint of coefficient of nitrogen absorption.

Looking ahead, the company plans to evaluate the full data outputs but will suspend further clinical development of Sollpura, including the 20-week extension period of the study.

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Craig Thompson, president and chief executive, commented:

We are greatly disappointed by the findings of the RESULT study. We would like to extend our deepest gratitude to the patients and their families, study investigators, and the cystic fibrosis community for the support they have provided in the clinical development of Sollpura.

Shares of Anthera were last seen down 81% at $0.50, with a consensus analyst price target of $3.79 and a 52-week range of $0.40 to $5.60.

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