Leiden, The Netherlands, September 2, 2010. Biotech company Pharming Group NV
("Pharming" or "the Company") (NYSE Euronext: PHARM) today announced that it has
converted all of the remaining January 2010 bonds. The current number of
outstanding shares as per today is 355,781,497 from 347,979,345 at August
24, 2010.
The increase of 7,802,152 shares stems from:
* 5,259,652 shares issued under the Standby Equity Distribution Agreement
("SEDA") with YA Global Master SPV LTD ("YA Global") for a cash
consideration of €750,000. As per today, €21.2 million remains available
under the total €30.0 million SEDA facility with YA Global as entered into
in 2009;
* 2,542,500 shares for the conversion of the remaining €0.3 million bonds at a
conversion price of €0.12 .This conversion relates to the €7.5 million
January 2010 private bonds, which has now been fully cleared. The
outstanding number of cashless warrants related to these bonds remains at
12.2 million.
"We are pleased that the January 2010 private bonds have now come down to nil,"
commented Sijmen de Vries, Chief Executive Officer. "These latest announcements
demonstrate how the Company continues to make progress on improving the capital
structure."
About Pharming Group NV
Pharming Group NV is developing innovative products for the treatment of genetic
disorders, specialty products for surgical indications, and nutritional
products. On June 24, the European Medicines Agency adopted a positive opinion
for Ruconest(TM) (Rhucin®) for the treatment of angioedema attacks. Market
Authorization in the European Economic Area is therefore expected to be granted
in September 2010. The product is also under development for follow-on
indications, i.e. antibody-mediated rejection (AMR) and delayed graft function
(DGF) following kidney transplantation. The advanced technologies of the Company
include innovative platforms for the production of protein therapeutics,
technology and processes for the purification and formulation of these products.
In July, the partial spin-off of DNage was completed. Additional information is
available on the Pharming website,http://www.pharming.com.
This press release contains forward looking statements that involve known and
unknown risks, uncertainties and other factors, which may cause the actual
results, performance or achievements of the Company to be materially different
from the results, performance or achievements expressed or implied by these
forward looking statements.
Contact:
Ms. Marjolein van Helmond, T: +31 (0)71 52 47 431 or +31 (0)6 109 299 54
[HUG#1442199]
Press release (PDF):
http://hugin.info/132866/R/1442199/386480.pdf
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Source: Pharming Group N.V. via Thomson Reuters ONE
