Pharming's six-month net loss improves slightly to €8.1 million

By Lisa Kerner

Charlotte, N.C., Aug. 4 - Pharming Group NV reported a net loss for the six months ended June 30 of €8.1 million, slightly better than the net loss of €8.2 million for the same period in 2005.

Total costs and expenses for the first half of the year were down at €8.1 million from €8.8 million in the year-ago period.

During the first six months of 2006, Pharming raised more than €30 million through a share placement with institutional investors and an agreement with Paul Royalty Fund.

The company's cash position, including marketable securities, was €41.6 million as of June 30, up from €20.3 million at the end of 2005.

Pharming's corporate highlights for the six-month period include submission of a Marketing Authorization Application for European authorization of rhC1INH for the treatment of acute attacks of hereditary angioedema as well as orphan-drug designations for rhC1INH in two additional indications.

"In the first half of 2006, Pharming attained a solid cash position through key transactions and well controlled costs and expenses," chief executive officer Francis J. Pinto said in a company news release.

Located in Leiden, The Netherlands, Pharming develops protein products for the treatment of genetic disorders, specialty products for surgical indications, intermediates for various applications and food products.

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