Pappas Capital Announces the Passing of…

Anthera Pharmaceuticals, Inc. (Nasdaq: ANTH), a biopharmaceutical company developing drugs to treat serious diseases associated with inflammation, today announced the completion of its initial public offering of six million shares of common stock at a price of $7.00 per share. The net proceeds of the offering to Anthera, after deducting underwriting discounts and commissions and estimated offering expenses payable by Anthera, were approximately $36.7 million. In addition, Anthera has granted the underwriters a 30-day option to purchase up to an additional 900,000 shares to cover over-allotments, if any. The sole book-running manager of the offering is Deutsche Bank Securities Inc. Piper Jaffray & Co. is a co-lead manager of the offering and Cowen and Company, LLC and Merriman Curhan Ford & Co. are co-managers of the offering.