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Pharming Group NV (PHGUF.PK)

PHGUF.PK on OTC Markets Group - US Other OTC and Grey Market

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23 May 2017
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Latest Key Developments (Source: Significant Developments)

Pharming withdraws items related to amendment of articles of association from AGM agenda
Wednesday, 17 May 2017 07:30am EDT 

May 17 (Reuters) - PHARMING GROUP NV ::PHARMING ANNOUNCES WITHDRAWAL OF AGENDA ITEMS RELATED TO AMENDMENT OF THE ARTICLES OF ASSOCIATION FROM AGM AGENDA.  Full Article

Pharming Group Q1 operating result swings to EUR 3.9 mln profit
Wednesday, 17 May 2017 01:00am EDT 

May 17 (Reuters) - PHARMING GROUP NV :Q1 NET PRODUCT SALES INCREASED BY 794% TO €15.2 MILLION (2016: €1.7 MILLION),.Q1 TOTAL REVENUES INCREASED BY 605% TO €15.5 MILLION FROM €2.2 MILLION IN 2016.Q1 OPERATING RESULTS IMPROVED TO A PROFIT OF €3.9 MILLION FROM A LOSS OF €3.2 MILLION IN 2016.Q1 NET RESULT WAS A LOSS OF €5.7 MILLION, COMPARED WITH A LOSS OF €3.4 MILLION IN 2016.  Full Article

Pharming announces refinancing of its existing debt by single $100 million debt facility on improved commercial terms
Tuesday, 16 May 2017 01:00am EDT 

May 16 (Reuters) - PHARMING GROUP NV ::PHARMING ANNOUNCES REFINANCING OF ITS EXISTING DEBT BY A SINGLE US$100 MILLION DEBT FACILITY ON IMPROVED COMMERCIAL TERMS.REPAYMENT OF AMORTISING CONVERTIBLE BONDS ELIMINATES RISK OF APPROXIMATELY 24% DILUTION.IT HAS COMPLETED A NEW US$100 MILLION FINANCE AGREEMENT WITH ORBIMED ADVISORS.THIS HAS BEEN USED TO REDEEM AMORTIZING CONVERTIBLE BONDS DUE 2017/2018, AND TO REFINANCE COMPANY'S SENIOR DEBT FACILITY WITH SILICON VALLEY BANK AND KREOS CAPITAL.LOAN, INITIALLY STRUCTURED AS A BRIDGE FACILITY WILL BE REPLACED WITHIN 60 DAYS BY A FULL LOAN AGREEMENT WITH A MATURITY DATE OF JUNE 2021.SIGNIFICANT REDUCTION OF NEAR TERM CASH BURN (FROM AMORTISATIONS AND DEBT REPAYMENTS) OF APPROXIMATELY EUR 16 MILLION IN 2017 AND ALMOST EUR 8 MILLION IN 2018.  Full Article

Pharming Group FY net loss widens to 17.5 million euros
Thursday, 9 Mar 2017 01:00am EST 

Pharming Group NV : FY revenue from product sales 13.7 million euros ($14.43 million) versus 8.6 million euros year ago . FY revenue 15.9 million euros versus 10.8 million euros year ago . FY net loss 17.5 million euros versus loss of 10.0 million euros year ago . Cash position, including restricted cash, 32.1 million euros at year-end 2016 versus 31.8 million euros at year-end 2015 . For 2017 sees continued growth in revenues from sales of RUCONEST, mainly driven by the US operations .For 2017 sees achievement of positive quarterly operating results in the course of the year.  Full Article

Pharming Group announces additional conversions of its amortizing bonds
Friday, 3 Feb 2017 01:00am EST 

Pharming Group NV : Announces additional conversions of its amortizing bonds . Total number of shares issued in conversions is 7,558,479 ordinary shares . Amount of amortizing bonds outstanding is reduced from 45.0 million euros ($48.4 million) to 39.7 million euros .No cash payment was required in respect of first instalment of bonds due on Feb 1, 2017 and second installment due on March 1, 2017 has now also been mostly settled.  Full Article

Pharming Group announces issue of new stock
Thursday, 26 Jan 2017 03:23am EST 

Pharming Group NV : Announces issue of new stock as a result of conversion of amortizing bonds . Total number of shares issued in conversions is 10,823,881 ordinary shares . Amount of amortizing bonds outstanding is reduced from 45.0 million euros ($48.32 million) to 41.9 million euros .New shares represent 2.38 pct of issued share capital of company prior to issue, and 2.32 pct of enlarged issued share capital of company.  Full Article

EC amends marketing authorisation for Pharming Group's Ruconest to include self-administration
Monday, 16 Jan 2017 04:02am EST 

Pharming Group NV : European Commission amends marketing authorisation for Ruconest to include self-administration . European Commission adopted Commission Implementing Decision to amend marketing authorisation for Ruconest to include self administration using Ruconest Administration Kit . Decision allows for self-administration of Ruconest for acute hereditary angioedema (HAE) attacks by adolescents and adults with a new custom-designed Ruconest Administration Kit .Ruconest Administration Kit will become available for use in various EU markets, following approval of educational materials by local authorities, expected over coming 1-3 mths.  Full Article

Pharming Group announces completion of acquisition of all north American commercialization rights for Ruconest from Valeant
Thursday, 8 Dec 2016 01:00am EST 

Pharming Group NV : Pharming Group announces completion of acquisition of all north American commercialization rights for Ruconest from Valeant . Cash position after closing of deal and payment of all transaction costs strengthened to 34.3 million euros ($36.94 million) . Funding through a combination of new equity, straight debt and new convertible bonds of 104 million euros before costs . $125 million deal value, with an upfront fee paid to Valeant of $60 million, and future self-funding sales milestone payments up to a further $65 million in total . Immediate and substantial positive impact on Pharming's operational results and near-term profitability .Annualized run rate of sales, increased from $35 million in Q3 2016 to more than $40 million, based on average of most recent two months of sales (October and November).  Full Article

EMA says CHMP recommends approving Afstyla
Friday, 11 Nov 2016 07:11am EST 

EU Medicines Agency : Recommendations for November 2016 . Vemlidy, also known as tenofovir alafenamide received positive opinion from CHMP for treatment of chronic Hepatitis B .CHMP recommended granting marketing authorisation for Afstyla for prevention, treatment of bleeding in patients with Haemophilia A.  Full Article

Pharming Group expects to become profitable at operating level in 2017
Thursday, 27 Oct 2016 02:15am EDT 

Pharming Group NV : Pharming reports on financial results for the first nine months of 2016 . Sales in the US in the first nine months of 2016 were up by approximately 16 pct compared to the same period last year, and up 66 pct compared to the first half year of 2016 . 9 month gross profit increased by 15 pct relative to the same period last year, which was previously Pharming's most successful period, and up 67 pct compared to the first half year of 2016 . 9 month revenue 8.7 million euros ($9.5 million) versus 8.5 million euros a year ago . Operating loss at September 30 9.4 million euros versus a loss of 9.1 million euros a year ago . "We expect that both sales and gross profits will continue to improve during the remainder of the year" - CEO ."We would expect to become profitable at the operating level during 2017" - CEO.  Full Article

More From Around the Web

BRIEF-Pharming withdraws items related to amendment of articles of association from AGM agenda

* PHARMING ANNOUNCES WITHDRAWAL OF AGENDA ITEMS RELATED TO AMENDMENT OF THE ARTICLES OF ASSOCIATION FROM AGM AGENDA SOURCE TEXT FOR EIKON: FURTHER COMPANY COVERAGE: (Gdynia Newsroom:)