ANTHERA PHARMACEUTICALS, INC. (NASDAQ:ANTH) Files An 8-K Costs Associated with Exit or Disposal ActivitiesItem 2.05Costs Associated with Exit or Disposal Activities.
On April 12, 2018, the Board of Directors of Anthera Pharmaceuticals, Inc. (the “Company”) approved and commenced a management and administrative personnel reorganization plan furthering its on-going efforts to effectively align Company resources. In connection with this plan, the Company plans to eliminate non-essential salaried positions, with the majority of these eliminations occurring between April 15 and April 30, 2018. The Company expects to record exit charges, in the form of termination benefits of approximately $1.2 million in connection therewith.
The Company believes that the aforementioned exit costs currently represent its best estimates of the anticipated charges to be incurred; although there may be additional charges recognized as additional actions are identified and finalized. As particular actions are finalized and the Company is able to make good faith determinations of additional estimated costs and future cash expenditures associated with such actions, the Company intends to file amendments to the Current Report on Form8-K, as required by Item 2.05 of Form8-K, or report such costs or charges in its periodic reports, as appropriate.
Item 2.05Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On April 13, 2018, in connection with the personnel reorganization plan described above in Item 2.05 of this Form 8-K, the Company decided to eliminate the positions of Chief Medical Officer, held by Dr. William Shanahan, and Senior Vice President, Manufacturing, held by Patrick Murphy, effective April 15, 2018, and the position of Senior Vice President, Medical Sciences, held by Dr. Renee Martin, effective April 30, 2018.
About ANTHERA PHARMACEUTICALS, INC. (NASDAQ:ANTH)
Anthera Pharmaceuticals, Inc. (Anthera) is a biopharmaceutical company focused on developing and commercializing products to treat serious diseases associated with inflammation, including enzyme replacement therapies and autoimmune diseases. The Company has two Phase III product candidates, liprotamase also known as Sollpura and blisibimod. Sollpura is a non-porcine investigational Pancreatic Enzyme Replacement Therapy (PERT) intended for the treatment of patients with Exocrine Pancreatic Insufficiency (EPI), often seen in patients with cystic fibrosis and other conditions. Blisibimod targets B-cell activating factor (BAFF), which has been shown to be elevated in a range of B-cell mediated autoimmune diseases, including systemic lupus erythematosus (SLE), or lupus, Immunoglobulin A nephropathy (IgA) nephropathy, lupus nephritis and others.