Anthera Pharmaceuticals Announces 1-for-8 Reverse Split of Stock

       Anthera Pharmaceuticals Announces 1-for-8 Reverse Split of Stock

PR Newswire

HAYWOOD, Calif., July 12, 2013

HAYWOOD, Calif., July 12, 2013 /PRNewswire/ --Anthera Pharmaceuticals, Inc.
(Nasdaq: ANTH) announced today that it has filed a Certificate of Amendment to
its Amended and Restated Certificate of Incorporation to effect a 1-for-8
reverse stock split of its common stock, effective as of 5:00PM Eastern Time
today. A Certificate of Amendment to effect a reverse stock split was
approved by the Company's stockholders at its Annual Meeting of Stockholders
held on May 16, 2013, and the specific 1-for-8 ratio was subsequently approved
by the Company's Board of Directors.

At the effective time of the reverse stock split, every eight (8) shares of
the Company's issued and outstanding common stock will be automatically
converted into one (1) issued and outstanding share of common stock, without
any change in par value per share. The reverse stock split will affect all
shares of the Company's common stock outstanding immediately prior to the
effective time of the reverse stock split, as well as the number of shares of
common stock available for issuance under the Company's equity incentive
plans. In addition, the reverse stock split will affect a reduction in the
number of shares of common stock issuable upon the exercise of stock options
or warrants, and release of restricted stock units outstanding immediately
prior to the effectiveness of the reverse stock split. No fractional shares
will be issued as a result of the reverse stock split. Stockholders who would
otherwise be entitled to receive a fractional share will receive, in lieu
thereof, a cash payment based on the closing sales price of the Company's
common stock as reported on the NASDAQ Capital Market on the last business day
immediately preceding the effective date of the reverse stock split. The
Company's common stock will begin trading on the NASDAQ Capital Market on a
split-adjusted basis when the market opens on July 15, 2013. The new CUSIP
number for the Company's common stock following the reverse stock split is
03674U201.

The Company's common stock will continue to trade on the NASDAQ Capital Market
under the symbol "ANTH," with the fifth character "D" added to the end of the
trading symbol, beginning on Monday, July 15, 2013, for a period of 20 trading
days to indicate that the reverse split has occurred. The Company's common
stock will revert to trading under its original symbol "ANTH" after the 20
trading day period.

The reverse stock split will reduce the number of shares of common stock
issued and outstanding from approximately 153 million to approximately 19
million. Concurrently, the authorized number of shares of common stock will
be reduced to 100 million.

American Stock Transfer and Trust Company (AST) is acting as the exchange
agent for the reverse stock split. AST will provide instructions to
stockholders regarding the process for exchanging their pre-split stock
certificates for post-split stock certificates. Additional information
regarding the reverse stock split can be found in the Company's definitive
proxy statement filed with the Securities and Exchange Commission on April 5,
2013.

About Anthera Pharmaceuticals

Anthera Pharmaceuticals is a biopharmaceutical company focused on developing
and commercializing products to treat serious diseases associated with
autoimmune disorders.

Safe Harbor Statement

Any statements contained in this press release that refer to future events or
other non-historical matters, including statements that are preceded by,
followed by, or that include such words as "estimate," "intend," "anticipate,"
"believe," "plan," "goal," "expect," "project," or similar statements, are
forward-looking statements made pursuant to the safe harbor provisions of the
Private Securities Litigation Reform Act of 1995. Such statements are based on
the Company's expectations as of the date of this press release and are
subject to certain risks and uncertainties that could cause actual results to
differ materially, including but not limited to the risks and uncertainties
associated with market conditions, as well as those set forth in the Company's
public filings with the SEC, including the Company's Annual Report on Form
10-K for the year ended December 31, 2012 and Quarterly Report on Form 10-Q
for the quarter ended March 31, 2013. The Company disclaims any intent or
obligation to update any forward-looking statements, whether because of new
information, future events or otherwise, except as required by applicable law.

CONTACT:Dennis Lutz of Anthera Pharmaceuticals, Inc., dlutz@anthera.com or
(510)856-5598.

SOURCE Anthera Pharmaceuticals, Inc.

Website: http://www.anthera.com
 
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