Anthera Pharma (NASDAQ: ANTH)
Anthera Pharma is having an incredibly hard time in the market today, and for good reason. The company announced negative news with regard to a Phase 3 study. Below, we’ll talk about what we’re seeing from the stock, why, and what we can expect to see from ANTH ahead.
ANTH Takes A Dive
As mentioned above, today isn’t proving to be the best day for Anthera Pharma. Unfortunately, after releasing clinical results, the company’s stock fell dramatically, and there seems to be no way to make it to the green today. Currently (9:42), ANTH is trading at $2.24 per share after a loss of $0.54 per share or 19.39% thus far today.
Why The Declines Are Happening
Early this morning, the company released news with regard to a clinical trial. The trial was a phase 3 trial looking into Blisibimod CHABLIS-SC1 for patients with systemic Lupus Erythematosus. Unfortunately, ANTH announced that the study did not meet its primary endpoint. As we know, this is a recipe for disaster in the biotech space.
What We’ll Be Watching Ahead
While this is a big hit to Anthera Pharma, it’s definitely not the end of the world. The company does have a relatively strong pipeline, and I believe that’s what’s stopping the stock from diving any further. Nonetheless, after today’s fail, ANTH has a long, uphill battle to climb!
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