Biotech company Pharming GroupNV ("Pharming") (NYSE Euronext: PHARM) has announced that its current number of outstanding shares has increased from 285,691,836 at June 18, 2010 to 304,953,323 as per June 30, 2010.
The increase reflects an aggregate number of 7,661,250 shares in relation to conversions of bonds and 11,600,237 shares in relation to the exercise of warrants issued upon entering into EUR7.5 million private bonds in January 2010. As a result, the original nominal value of the bonds issued in the amount of EUR7.5 million has decreased to EUR1.1 million today.
About Pharming Group NV
Pharming Group NV is developing innovative products for the treatment of genetic disorders, ageing diseases, 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. Prodarsan(R) - a product under development by Pharming's subsidiary DNage - is in early stage clinical development for Cockayne Syndrome and lactoferrin for use in food products. 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). Recently the partial spin off of DNage was initiated. Additional information is available on the Pharming website, http://www.pharming.com.