Anthera Pharmaceuticals, which is developing anti-inflammatory therapies for acute coronary syndrome and lupus, plans to raise $42 million by offering 6 million shares at a price of $7 per share, according to a post-effective amendment filed on Friday. Venture backers have indicated an interest in purchasing almost 37% of the deal, or 2.2 million shares. The biotech had originally planned to offer 4.6 million shares at a price range of $13-$15. Under the newly revised terms, Anthera Pharmaceuticals will command a market value of $151 million. Anthera, which was founded in 2004, has yet to generate product revenue and is set to launch a Phase 3 trial for its lead product candidate. The Hayward, CA-based company plans to list on the NASDAQ under the symbol ANTH. Deutsche Bank is the lead underwriter on the deal, which is expected to price on Monday, Mar. 1.
