SOURCE: Pharming Group N.V.

September 30, 2009 12:38 ET

Pharming provides update on outstanding shares

LEIDEN, THE NETHERLANDS--(Marketwire - September 30, 2009) - Biotech company Pharming Group NV ("Pharming" or "the Company") (NYSE Euronext: PHARM) today provided an update on its outstanding number of shares.

Pharming issued 2,927,230 ordinary shares under the Standby Equity Distribution Agreement with YA Global Master SPV LTD ("YA Global") for a cash consideration of EUR 1.5 million. In addition, the Company issued shares in private placements with existing shareholders in order to support the bond conversion transaction as announced September 21, 2009. As a result, Pharming's total number of outstanding ordinary shares is currently 120,850,520.

About Pharming Group NV

Pharming Group NV is developing innovative products for the treatment of genetic disorders, ageing diseases, specialty products for surgical indications, intermediates for various applications and nutritional products. Pharming has two products in late stage development - Rhucin® for Hereditary Angioedema and human Lactoferrin for use in food products and one product in early stage clinical development - Prodarsan® for Cockayne Syndrome. 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, as well as technology in the field of DNA repair (via DNage). 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.

This announcement was originally distributed by Hugin. The issuer is solely responsible for the content of this announcement.

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Contact Information

  • Contact:

    Ms. Marjolein van Helmond
    Pharming Group NV
    T: +31 (0)71 52 47 431 or +31 (0)6 109 299 54