Anthera Pharmaceuticals Inc. (ANTH) is a company with a market cap below $100M and plenty of cash. It is ready to go into phase 3 trials with a B-cell molecule product [A-623]. Yet the company appears to be misunderstood by the market.
Anthera's B-cell molecule product, targeting lupus, appears to be an improvement over GlaxoSmithKline's (GSK) Benlysta [belimumab]. Anthera's phase 2 dose-ranging data was complicated and lacked statistical significance. However, the company found that the drug candidate is very active in sicker patients. Anthera has designed the clinical trials and obtained sign-off from both the FDA and the European regulatory authorities to start phase 3 late this year or early next year. We should get some additional data at the American College of Rheumatology [ACR] meeting in November.
The phase 3 trials, the ACR meeting and a good management team provide excellent catalysts in the coming months.