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East Bay company's stock plummets 81% as drug for cystic fibrosis patients fails

Anthera Pharmaceuticals Inc., which hung its hopes on a two-time loser treatment for cystic fibrosis patients, said the drug failed in a late-stage trial.

The stock of the Hayward-based company (NASDAQ: ANTH) fell 81 percent Monday, from $2.64 per share to 50 cents at its close. It had dipped as low as 40 cents.

Early data from the 140-patient Phase III study of the drug, called Sollpura, showed that the majority of patients with exocrine pancreatic insufficiency who received the drug saw their…

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