My earlier post on ANTH was more or less useless.
zzlangerhans has written this about ANTH recently.
My next selection: Anthera Pharmaceuticals (ANTH). Please enter a limit pick of 3.4.
Anthera is the Oliver Twist of baby biotechs. Their share price seems to have been jinxed from inception, and every turn is met with misfortune. The company was forced to reduce the price of their IPO by half in March of this year, raising only 42M. The share price muddled along humbly at 7 for a couple of months and then began to stagger, touching 4 in July before a pseudo-recovery took the share price back to 6. The upward climb was short-lived and the share price is now showing downward momentum at 3.2.
Throughout these valuation travails, Anthera has displayed a surprising absence of negative catalysts. The company has three compounds in clinical trials and thus far seems to be executing their development plan. The phase III VISTA-16 trial of varespladib in acute coronary syndrome was initiated in June and has an estimated completion date of February 2012 (although I suspect it will be later). The PEARL-SC phase IIb trial of A-623 B lymphocyte inhibitor for lupus has been initiated, but it is unclear if any patients have yet been enrolled. The estimated date of completion for this trial is May 2012.
My main question and concern about Anthera at this time is the disappearance of the IMPACTS phase II trial of secretory phospholipase inhibitor A-001 in sickle cell anemia. Clinicaltrials.gov reports that this study was completed in December 2009, yet the company issued their last press release about it in March 2009 ( to report encouraging preliminary data and continuance of the trial). Subsequent quarterly PR's do not mention IMPACTS and barely refer to A-001. If IMPACTS has failed and the company swept it under the rug I consider this to be a serious indictment of management's integrity and the company's long-term prospects.
Despite this concern, I believe the drop in share price is more reflective of stochastic movement in a thinly traded small cap biotech than true market pessimism. A market cap of 75M is low for a company with ongoing phase III and phase II trials of two compounds for diverse indications, even if A-001 and IMPACTS are completely discounted.
Hopefully Anthera is truly an Oliver Twist and not an Artful Dodger, and will eventually find their way to security and acceptance in a most Dickensian manner.
(from comment #21 here)
I have added a few ANTH shares to my portfolio today, making ANTH shares now a 6% position (see comment #89 here).
Buying a few shares at around 3.15 USD per share might be a very good idea.