LEIDEN, THE NETHERLANDS--(Marketwire - February 28, 2013) - Biotech company Pharming Group NV
("Pharming" or "the Company") (NYSE Euronext: PHARM) announced that at
its Extraordinary General Meeting (EGM) of shareholders, held today, all
proposals were approved, including an amendment of its articles of
association effecting a 10:1 reverse share split and a reduction of the
nominal value of the combined shares.
Pursuant to the reverse share split, every ten shares of Pharming with a
nominal value of EUR 0.01 each will be combined into one share with a
nominal value of EUR 0.10 each, and the nominal value of these new shares
will be reduced to EUR 0.01 each.
Trading in the new shares with ISIN Code NL0010391025 will start on
Tuesday 5 March 2013. No actions from shareholders are required.
Following the reverse share split, Pharming will have approximately
118.9 million shares outstanding with a nominal value of EUR 0.01 each.
Any shareholders that have specific questions on the reverse share split
should contact their account bank.
About Pharming Group NV
Pharming Group NV is developing innovative products for the treatment of
unmet medical needs. RUCONEST® is a recombinant human C1 inhibitor
approved for the treatment of angioedema attacks in patients with HAE in
all 27 EU countries plus Norway, Iceland and Liechtenstein, and is
distributed in the EU by Swedish Orphan Biovitrum. RUCONEST® is
partnered with Santarus Inc (NASDAQ: SNTS) in North America where the drug
has completed Phase III clinical development. The product is also being
evaluated for various follow-on indications. Pharming has a unique GMP
compliant, validated rabbit platform for the production of recombinant
human proteins that, with the EU approval of Pharming's rhC1 inhibitor, has
proven capable of producing industrial volumes of high quality recombinant
human protein in a significantly more economical way through low upfront
capital investment and manufacturing costs, compared to current cell based
technologies. Pharming now plans to utilise this platform for the
development of rhFVIII for the treatment of Haemophilia A.
Additional information is available on the Pharming website,
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.
Press release (PDF):
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Source: Pharming Group N.V. via Thomson Reuters ONE