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Published in Health and Fitness on Monday, June 8th 2009 at 23:38 GMT, Last Modified on 2009-06-08 23:39:04 by Market Wire
LEIDEN, NETHERLANDS--(Marketwire - June 9, 2009) -
Leiden, The Netherlands, June 9, 2009. Biotech company Pharming Group NV ("Pharming" or "the Company") (NYSE Euronext: PHARM) today provided an update on the increased number of outstanding shares following the purchase by YA Global Master SPV LTD ("YA Global") of newly issued Pharming shares.
In April, Pharming announced it had entered into a Standby Equity Distribution Agreement with YA Global. Under the agreement, Pharming is entitled to request YA Global to subscribe to and purchase shares up to a total of EUR 20 million at any time during the 36 month agreement. The newly issued shares include the previously announced one-time transfer of 800.000 Commitment shares and 777.265 shares for a total cash consideration of EUR 500.000. Following these transactions, the total number of outstanding shares increased from 98.960.156 per March 31, 2009 to 100.537.421 per 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, 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.
Contact:
Sijmen de Vries, Pharming Group NV, T: +31 (0)71 52 47 400
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