SOURCE: Pharming Group N.V.

August 17, 2010 12:39 ET

Pharming provides update on outstanding shares

LEIDEN, NETHERLANDS--(Marketwire - August 17, 2010) -


Leiden, The Netherlands, August 17, 2010. Biotech company Pharming Group NV ("Pharming") (NYSE Euronext: PHARM) today announced that its current number of outstanding shares has increased from 332,865,044 at August 5, 2010 to 341,243,169 as per today.

The increase of 8,378,125 shares stems from:

  * 4,166,667 shares issued under the Standby Equity Distribution Agreement
    ("SEDA") with YA Global Master SPV LTD ("YA Global") for a cash
    consideration of EUR750,000. As per today, approximately EUR22.7
    million remains available under the total EUR30.0 million SEDA
    facility with YA Global as entered into in 2009;
  * an aggregate number of 4,211,458 shares for the conversion of
    EUR0.5 million bonds at an exercise price of EUR0,12. This conversion
    relates to the EUR7.5 million January 2010 private bonds. As a result,
    the original nominal value of the bonds has decreased to
    EUR0.4 million today.

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™ (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. Recently, 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#1438504]

Press release (PDF): http://hugin.info/132866/R/1438504/382995.pdf

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Source: Pharming Group N.V. via Thomson Reuters ONE

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