Pharming Group N.V.
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Publicatie datum
26 apr 2006 - 07:00
Statutaire naam
Pharming Group N.V.
Titel
PHARMING ANNOUNCES FIRST QUARTER 2006 RESULTS-Reports on solid cash position and broadening product pipeline
Bericht
Leiden, The Netherlands, April 26, 2006. Biotech company Pharming Group NV (“Pharming” or “the Company”) (Euronext: PHARM) (PHARM.AS) announced today its first quarter (Q1) results for the period ended March 31, 2006. The Company reports on its solid financial position and broadening of its product pipeline.
Key Developments
Financial
? EUR 17.1 million raised to develop recombinant human C1 inhibitor (rhC1INH) for new indications
? Total costs lower at € 3.7 million compared to € 4.2 million in Q1 2005
? Net loss of € 3.7 million in Q1 2006
? Cash position of € 48.3 million (including marketable securities)
Products
? Clinical development of recombinant human C1 inhibitor (rhC1INH) for hereditary angioedema (HAE) expanded to 25 centers with over 150 patients enrolled
? Orphan drug applications for new indications of rhC1INH under review
? Filing on human lactoferrin (hLF) for Generally Recognized as Safe (GRAS) notification being reviewed by the Food and Drug Administration (FDA)
Corporate
? Heads of Agreement to acquire DNage BV (“DNage”), a private company based in the Netherlands
? Agreement with affiliates of Paul Royalty Fund II, LP (“Paul Royalty Fund) with a payment of US $15 million and US $5 million in equity
? Pharming added to the Euronext Amsterdam Midkap Index (AMX) as of March 2, 2006
“In the first quarter 2006, Pharming attained a solid cash position with well controlled costs and expenses,” said Dr. Francis J. Pinto, CEO of Pharming. “The Company is on the way to achieving its growth targets through the broadening of its technology platforms and product pipeline.”
Financial
In Q1 2006, total revenues of € 0.1 million were in line with revenues during the same period in 2005. Revenues in Q1 2006 have been generated from government grants and subsidies. The total costs and expenses were lower in Q1 2006 (including € 0.3 million IFRS 2
Datum laatste update: 15 februari 2025