Anthera Pharmaceuticals, Inc. ("Anthera" or the Company) is an American biopharmaceutical company focused on developing and commercializing products to treat serious conditions associated with cystic fibrosis, inflammation and autoimmune diseases.

According to the law firm press release, the complaint alleges that, among other allegations, throughout the Class Period, Anthera made materially false and/or misleading statements concerning the potential efficacy and success of its Solution Study and CHABLIS-SC1 clinical trials, as the Company failed to disclose that: (i) patients were not improving in the CHABLIS-SC1 clinical trial; and (ii) there were dosing problems inherent in the Solution Study design that created challenges to obtaining responses.

On November 10, 2016, the Company issued a press release announcing that the CHABLIS-SC1 clinical trial with blisibimod for the treatment of SLE failed to meet its primary endpoint. Following this news, shares of Anthera fell approximately 32% to close at $1.90 on November 10, 2016. Then on December 27, 2016, the Company issued another press release, announcing that the Solution clinical study in cystic fibrosis patients with EPI missed the CFA non-inferiority margin of the primary modified Intent to Treat. Following this news, shares of Anthera fell approximately 63% to close at $0.74 on December 28, 2016.

This case was voluntarily dismissed on July 17, 2017.