Jul 27th 2010 - Edison Investment Research today published a report on Pharming Group entitled "Oktober Cash Jacht". In summary, the report says:
Pharming's interim results have caused us to revise our forecasts further as Swedish Orphan BioVitrum paid a 3m upfront in H1 and, we speculate, will pay 5m on EU approval of Ruconest, now a formality, by early September. We feel that US partnering of Ruconest depends on ongoing FDA discussions so it may not complete till the regulatory position is clear. On 31 October, 10.9m of bonds become due. Pharming needs to hunt for cash to pay this plus c 12m H2 operating costs including starting trials in antibody-mediated rejection, the next Ruconest indication. The Yorkville SEDA is a likely source if liquidity holds up.
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