Fresh start for Pharming, says Edison, initiating coverage of the Dutch firm
Initiating coverage of Netherlands-based Pharming, analysts at Edison Investment Research say that the company's Rhucin, recombinant human C1 esterase inhibitor, is now under European Union regulatory review and could receive approval in the second half of this year. It could be EU partnered in the first half and a US launch is possible in 2011.
Rhucin has potential in transplantation (possible Phase II studies in 2010 with direct sales possible by 2014-15) and use in cardiac surgery could be a blockbuster indication. In January, 7.5 million euros ($10.7 million) of convertible bonds plus 15 million warrants at 0.5 euros were issued giving convertible debt of 18.4 million euros. Liquid cash was 12.3 million euros; a 23.4 million-euro equity facility underpins the fiscal year 2010 cash-burn, the analysts note.
A leading EU position in hereditary angioedema
This article is accessible to registered users, to continue reading please register for free. A free trial will give you access to exclusive features, interviews, round-ups and commentary from the sharpest minds in the pharmaceutical and biotechnology space for a week. If you are already a registered user please login. If your trial has come to an end, you can subscribe here.
Login to your accountTry before you buy
Free
7 day trial access
- All the news that moves the needle in pharma and biotech
- Exclusive features, podcasts, interviews, data analyses and commentary from our global network of life sciences reporters.
- Receive The Pharma Letter daily news bulletin, free forever.
Become a subscriber
£820
Or £77 per month
- Unfettered access to industry-leading news, commentary and analysis in pharma and biotech.
- Updates from clinical trials, conferences, M&A, licensing, financing, regulation, patents & legal, executive appointments, commercial strategy and financial results.
- Daily roundup of key events in pharma and biotech.
- Monthly in-depth briefings on Boardroom appointments and M&A news.
- Choose from a cost-effective annual package or a flexible monthly subscription
The Pharma Letter is an extremely useful and valuable Life Sciences service that brings together a daily update on performance people and products. It’s part of the key information for keeping me informed
Chairman, Sanofi Aventis UK
Today's issue
Company Spotlight
More Features in Biotechnology
| Headless Content Management with Blaze