Anthera Pharmaceuticals Provides Business Update and Reports 2017 Fourth Quarter and Fiscal Year Financial Results

Anthera Pharmaceuticals (Nasdaq:ANTH) today provided a business update and reported financial results for the fourth quarter and fiscal year ending December 31, 2017.

As quoted in the press release:

For the three and twelve months ended December 31, 2017, we recorded non-operating income (expense) of $(0.4) million and $9.6 million, respectively.  For the three and twelve months ended December 31, 2016, non-operating income of $1.6 million and $1.7 million was recorded, respectively.  Non-operating income (expense) is comprised primarily of changes in the fair value of warrants issued in connection with our equity offerings in 2016 and 2017, which are accounted for as derivative liabilities, with the change in fair value recorded as part of other income (expense).  The number of shares of common stock underlying the warrants issued in September 2016 became fixed in November 2016 and the related fair value was reclassified from liability to stockholders’ equity in 2016.  The warrants issued in March 2017 will continue to be accounted for as derivative liability until the warrants are exercised or expired.

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