Anthera Pharmaceuticals Inc (NASDAQ:ANTH) stock reacted positively after the company reported that the second pre-planned futility evaluation has been done on the Phase III RESULT trial assessing Sollpura targeting exocrine pancreatic insufficiency. The exclusive Data Monitoring Committee have provided its nod, paving the way for announcing topline report in Q1 2018. As per the update from company, Sollpura has the prospect to become the primary non-porcine pancreatic enzyme replacement treatment which may allow a reduction in pill size and count for EPI patients.
In unrelated news, Anthera Pharmaceuticals reported the outcome of the Special Meeting of Stockholders planned on January 5, 2018. Stockholders permitted all of the presented business matters which comprised approval of the second completion of company’s October 2017 “PIPE” transaction totaling total gross proceeds to $15 million; permission of the Stock Option and Incentive Program for this year; nod of the adjustment to the 2010 Employee Stock Purchase Program; and ratification of the engagement of BDO USA, LLP as company’s independent registered public accounting company for the fiscal year closing December 31, 2018. Anthera Pharmaceuticals anticipated to complete the second completion of the PIPE deal around January 9, 2018.
The company is a clinical-stage biopharma firm focused on developing products to cure life-threatening and grave diseases, including B-cell linked renal diseases and exocrine pancreatic insufficiency. Last month, Anthera’s common stock was listed on the Nasdaq Capital Market starting with the market open on January 26, 2018. The stock continues to list under the ticker “ANTH.” Anthera does not anticipate the transfer to have any impact on shares and trading.
The company reported on January 24, 2018 that it obtained formal notice related from the Nasdaq Hearings Panel. As per the update, Panel permitted Anthera’s request for addition in The Nasdaq Capital Market. The company’s continued listing is contingent to compliance with all pertinent requirements by May 14, 2018.